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ClaudetteCC

(106 posts)

12. I always assumed that PCH and similar prize givers bought an annuity

Tue Sep 16, 2025, 03:07 PM

Tuesday

from a 3rd party to pay out rather than financing it themselves. That said, I'm surprised at $5000/week all he has saved up is a trailer and jet skis.

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Publishers Clearing House's bankruptcy means 'forever' winners will no longer get paid [View all] BumRushDaShow Tuesday OP

If he had invested just half of that annual $260,000 check for ten years Fiendish Thingy Tuesday #1

Sure, but he was promised he didn't have to. yardwork Tuesday #3

He had every reason in the world to believe it was a possibility. NoRethugFriends Tuesday #7

Yes. He should have treated the annuity like stock in the company exboyfil Tuesday #14

Most of the magazine business has dried up. IbogaProject Tuesday #25

But couldn't that happen to somebody even with a regular annuity? raccoon Tuesday #16

Sadly, he was a fool not to think of the possibilities. From what I niyad Tuesday #23

I absolutely agree w/ you. Put some money aside until you build your own nest egg, and then truly celebrate/live. SWBTATTReg Tuesday #4

I have had plans in mind for decades of what to do if I were ever to come into niyad Tuesday #6

And THAT is exactly the reason I would take a cash payout up front niyad Tuesday #2

You are so right. Always get moniss Tuesday #20

I intended to wait for 70 to get Social Security for largest payout, now I think I should take it sooner. (n/t) thesquanderer Tuesday #38

I expect full blown "means testing" to moniss Tuesday #42

Industry squeeze's a way out from under responsibility Torchlight Tuesday #5

Yes. yardwork Tuesday #9

Ed McMahon is at fault. twodogsbarking Tuesday #8

If they do come to your house don't answer the door. They want their money back. twodogsbarking Tuesday #10

If I was a prize winner I would talk to a lawyer. Mosby Tuesday #11

Bankruptcy for corporations needs to be done away with. The Mouth Tuesday #17

I think PCH was a family operation IbogaProject Tuesday #27

It should be about NO ONE having ANY way to avoid obligations they willingly undertook The Mouth Tuesday #30

May you receive everything you deserve. niyad Tuesday #34

I have no idea of what you are talking about The Mouth Tuesday #41

remdi95 niyad Yesterday #43

I always assumed that PCH and similar prize givers bought an annuity ClaudetteCC Tuesday #12

That is what Steve Young had the USFL do exboyfil Tuesday #15

BTW, tsf destroyed the USFL. rubbersole Tuesday #35

5k/week for the last ten years. niyad Tuesday #28

I remember looking at the REALLLLLLLLY FINE PRINT on one of niyad Tuesday #31

One less worry for me, since I never won PCH! LeftInTX Tuesday #13

So, buyout outfits like J.G. Wentworth are left holding the bag? PSPS Tuesday #18

On the other hand, maybe Wentworth went out of business along with PCH? FakeNoose Tuesday #19

All "forever" payments are never guaranteed. Companies often will screw you over. Oneironaut Tuesday #21

Sort of like how social security recipients and disabled veterans will feel Mysterian Tuesday #22

Slight difference being that Social Security is OUR MONEY that they niyad Tuesday #24

Unless the terms of the winning angrychair Tuesday #26

Ummmmm, do you remember Hostess? Went "bankrupt", was "bought out", niyad Tuesday #32

I had forgotten angrychair Tuesday #40

Isn't/wasn't one of the midwest states that had annuity lottery winners in default? 3Hotdogs Tuesday #29

The only thing forever under capitalism is the rich will get richer forever. nt ImNotGod Tuesday #33

exactly niyad Tuesday #36

I had no idea that was still a thing! Initech Tuesday #37

He thought he'd get $ the rest of his life. I thought I'd be living in a democracy. Life is full of disappointments. nt thesquanderer Tuesday #39

Unfortunately like with a lot of sports players that got super wealthy quickly fujiyamasan Yesterday #44