Gen Z woman won a $1 million lottery but rejected it — for something better
The woman shocked the internet with her decision to refuse the lump sum that could have been a life-changer
You may have come across the question, “Would you rather have a million dollars or a smaller amount in intervals?” This is far from reality and is often just used to understand financial preferences. However, for a Montreal 20-year-old, Brenda Aubin-Vega, it became a jaw-dropping reality, per MTL Blog. The woman bagged the opportunity of winning 1 million dollars at the Loto-Québec jackpot and had the complete freedom to walk away from a rich queen. However, to the dismay of many, she turned down the offer. Titillating the feathers of many on the internet, Vega didn’t want to receive the entire amount and opted for something else instead.
According to a press release shared by Loto-Québec, the woman often buys lottery tickets for Gagnant à vie, one of her favorite games. During her work break, she decided to pick up two tickets at random as a treat for herself. When she scratched the tickets, she saw matching symbols and realized she’d won. On confirming, it was revealed that the ginormous amount was hers to take home if she wanted. Vega was beyond excited and took the rest of the day off from work. She called up her dad to discuss the win. “I couldn’t believe my eyes! I checked my ticket over and over again,” she remarked.
To everyone’s surprise, when it was time for the woman to accept the amount, she refused the lump sum. Instead, she took up the second offer. The website reported that the Gagnant à vie, if won, rewards the winner with a $1 million lump sum or $1,000 every week. Vega made the decision to get $1,000 every week for the rest of her life. According to Motley Fool Wealth Management, the question of whether to opt for a lump sum or annuity arises in many cases. These include pensions, business, annuities and even lotteries.
When deciding what to pick, it is wise to look at certain factors. Firstly, tax. In most cases, taking a lump sum means exposing yourself to a higher tax bill which can defeat the actual value of the lottery. In this case, it would be wiser to take consistent payouts and reduce the tax on them. However, this depends on each individual case’s details as well. Another factor to dwell upon is what the payout looks like. In Vega’s case, the payout is for life; she receives $1,000 for life and in a way, that can be a nice way to keep steady finances coming in. On the other hand, as another factor, life expectancy points out, there’s no telling what comes tomorrow!
A few other aspects included personal goals, other sources of income and so on. At the end of the day, the decision depends on the person’s unique case and unique winning amount. The woman didn’t reveal why she made the decision or what factors motivated it. However, she did mention that she plans to purchase a house with the money. Her story was shared by Diario La Capital on Facebook, inviting the internet to share their opinion. There too, there were mixed views.
Bola Viva Charanga said, “It was the best future assured decision, and with the possibility to continue investing with what is collecting weekly successes.” Maria Laura added, “It's okay, so you avoid dilapidating your money, and receive more, you have to take care of your health to live long.” Antonio Eduardo Silva said, “Ignorance is its finest, gentlemen, I’d take the million invested and generate more profit than a thousand weekly.” Gerado Matias Rolfo remarked, “A bird in hand is better than a hundred flying.”
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