readers Digest Draw - I know I won't win but

[ShannaraTiger]

Have to decide how to split the £250,000 first prize:
a) £1,042 / mnth for 240 months
b) £125,000 cash + £1,042 / mnth for 120 months
c) £250,000 lump sum cash.

Considering current economic climate not feeling very secure about the lump sums but will have to pay tax on monthly pay outs.
Need to make a decision asap and post the letter.

Personally I would go for option B, pay off my mortgage and then have a nice income (even after tax) for the next 10 years - should get you through the recession quite nicely!

I too have entered a readers digest draw but didn't get the option of how I wanted the prize divided up. Probably won't win but then someone has to don't they? I normally just throw them in the bin but you don't lose anything by entering!

becklespeckle, thanks for your reply. Problem is we live in a rented council flat so the money would have to be invested somewhere safe.

Ooh yes Shannara, houses are cheap at the mo too!

If you're a bit worried about investing it, send it to me and I'll look after it...

Good luck, btw, you do know that you're signing up for the Reader's Dig for the rest of your life...

Well you don't actually have to sign up for the Digest, although I do suspect that makes you less likely to win the major prizes. Mind you, with the current economic climate even a tenner would be a bonus!