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This lottery winner chose $7-million lump sum over $1K each day for life (globalnews.ca)

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[–] WhiteOakBayou 5 points 1 month ago

Money now is worth more than money later. Especially since it would take almost 20 years to make 7 million at 1000 a day(7000000/1000/365 please correct me if I did that wrong). Also, in that 20 years you'll make about 11 million at 5% compounding interest on 7 million capital. That's without spending anything. Taking out low interest loans to pay yourself back for your expenses shouldn't eat up too much though.

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