LogFAQs > #966934375

.....people realize that lump sum means you get vastly less cash overall right? Not to mention that incremental payments is guaranteed income for the next 25 years.

You go for a lump sum payment and all of a sudden everyone and their mother comes out of the woodwork asking for hand outs.

I would rather take the incremental payments, which is guaranteed living. It allows me to put a down payment on a property, guarantee I have money to pay for said property for the next 25 years which brings me up to my 60s, at which point I have a nice retirement home, if I don't decide to sell it at some point.

I have the option of refinancing the home at a later date if I renovate to make it more favorable to the current market (don't ask me how that works, I just heard about it from a Graham Stephan video), which in turn means I either get money back, or I pay less on mortgage payments overall.

So that 2k I spend per month could turn into 1k at a later point in time. Possibly less.

But for me, I would use that time to build a tiny home on a piece of land that I own. The most expensive cost is wiring the internet.