Ohio’s Lottery Prizes Yet to be Paid….

We were reviewing the State of Ohio’s financial statements for the fiscal year ended June 30, 2017, and saw this interesting statistic…….well interesting to me, but I have no life….

Did you know that the State is obligated to pay out to lottery winners through the year 2047 the tidy sum of $558,114,000 .  Here is a list of the payouts by year:
State of Ohio Lottery Prize Payouts

However, since they get to hold on to your money they have projected that they will earn $109,945,000 in interest income, so the net amount that they will pay out is $449,169,000!  That’s only a savings of 19.7%.

It reminds me of the “Golden Rule” (government edition)…..He who has the gold, makes the rules…..

Word to the wise….if you win, take a lump sum…..I know we will…

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