Lotto Question

I'm planning on winning the lotto soon and I have a question. people always say to take the cash instead of the payouts. What is the logic here?

I'm guessing it's because you can invest the money vs just sitting there doing nothing. Is it actually worth it?

Example: Powerball winning would be 50 mil, but if you take the cash you get "only" 29.3 mil. Seems like a lot to trade. You give up about 40%.

Only reason I can think of is the possibility of insolvency in the future, and them getting out of paying your payments. Phone Post 3.0

I have always thought you should take the payments. That way if you are stupid with your money, at most you can only be broke for about 10 months til you get your next payment.

The theory is that you can invest the lump sum and get a higher rate of return than if you were to get payments. Phone Post 3.0

I would probably take the annuity to keep myself in check. You'd still get 1.25 million a year for 40 years.