I read the fine print on a recent episode of America’s Got Talent and part of it is about the money awarded to the winner.
As you can see, the winner will not be an instant millionaire. From what I could find (like on this site), the prize is awarded as an annuity in the form of $25,000 per year for 40 years or they can take a lump sum if they don’t want to spread out the payments, which would be in the high $600k range, closer to $700k.
Whatever the winner picks, they are a lot more rich than when they first auditioned.
Would you rather take the payment over the course of 40 years or deposit a hefty $700,000 into your bank as soon as possible? Regular income would be nice but having over half a million in the bank definitely offers a feeling of security.
Thanks for dropping in…
-Out of the Wilderness