Tobacco settlement?

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tom4018

Dumb Old Farmer
Joined
Jan 2, 2004
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Location
Kentucky
Anybody going to take the lump sum settlements that are going to be available? Would it be better to wait out the other 9 payments? Wanting to build a small barn/shed this year and thought about taking the lup sum to do it this year. Really hate to give up the 20% but what is the best chice?
 
You can give up the 20%, but get the lump sum and put the money to work in another way.Beats waiting for a check all those years.
 
We're taking the lump sum. It's worth it to us to lose a percentage.

Tom- South Central Bank in Owensboro has been great to work with on the lump sum- there might be branches down your way - not sure.
 
I can not find anyone to give me a straight answer as to what it will cost me. I get an in general 20% but no set figure. There are several (Farm Bureau, 1st Citizen's bank, ect..) that want the business. My thinking is it depends on the total you will receive. A 10,000 a year income for 10 years is worthwile but a 750 dollar a year for the next 10 would not be. I think if you get less than 10,000 all total, take the lump sum, build a shed, buy a cow, pay off credit card or take the wife to cancun. 8,000 or so dollars can do something in a lump but not hardly fill the truck up with fuel when spread out over 10 years.
 

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