No doubt about it, winning the lottery dramatically changes a persons life. That means your winnings are taxed the same as your wages or salary. Match all five of the main winning numbers, plus the Lucky Ball, and you win the top prize. Without doing the math, but rather going with an off the cuff, educated guess, I suspect 30 years is the threshold of coming out ahead. It is important to understand how these methods work before deciding what route you want to take. How to Play Lucky For Life Each Lucky For Life play costs $2. Choose five white balls (1 - 48) and one Lucky Ball (1 - 18) or select Quick Pick to let the computer randomly select your numbers. On the other hand, cash value could drop significantly over time. Some states dont impose an income tax while others withhold over 15 percent. Otherwise, the chances are that you can hope for a less significant increase. After taxes, you can expect to receive only about $20,000 per year (assuming tax rates are about the same in the future as they are now). The overall odds are 1 in 7.8, based on a $2.00 wager. LUMP SUM: Winners can accept a one-time cash payout. Date game started: January 27, 2015. Additionally, some state and local lotteries could have what is called a retailer fee. To win anything on Lucky for Life, you need to match 5 numbers. Everybody has to pay taxes irrespective of their age or physical condition. If youd like to be the next player from Michigan to win a huge lottery prize, takea look at these tipsfrom lottery expert Richard Lustig. The top prize of $365,000 A YEAR FOR LIFE is paid weekly and the second prize is $25,000 a YEAR FOR LIFE paid yearly. Do You Pay Taxes on Lump Sum Lottery Winnings?If taxes apply to that lottery, they will be applied to lump-sum payments. People tend to pick the latter option. You can spend the cash as you see fit, and no one can stop you. In 1992, the first year with complete statistics available, the prize fund was $4 million with $1,000,000 given away in cash prizes. Frequently Asked Questions. If you match all five main numbers but miss out on the Lucky Ball, you still win $25,000 a year for life. If they elect to receive the $1,000 a day, the payment is guaranteed for 20 years or the remainder of their life, whichever is greater. The increased number of drawings will help the lottery players to bet on their favorite numbers every day thereby increasing your possibility to win the lottery prizes. Rules [ edit] Each game costs $2 per drawing. Refer to your states official game rules fora detailed explanation. Most carriers retain the right to accept or reject any offer they wish. That is unless your regular household income already places you in the top tax bracket prior to winning. Yes, the Internal Revenue Service (IRS) can take your lottery winnings. If all your numbers match those that are drawn, you win the jackpot. Some states don't impose an income tax while others withhold over 15 percent. It is believed to bring forth a balance of power, spiritual strength, and good luck. USA Lucky for Life Payout and Taxes If you were lucky enough to win, you shouldn't miss your chance to claim the prize. If you're reading this article online, there's a good chance that any money you receive will be reduced to an income last known address (LUAA) figure that's used for calculating federal income tax. Generally, payments are guaranteed for the first 20 years. Choose the number of drawings you want to play. Gross Payout: The total prize awarded to a winner before federal and state taxes are applied. Smaller Lucky for Life prizes can usually be claimed from any authorized lottery retailer in your state. The same is true, however, if you take a lump-sum payout in 2022. Edward Pevos is the Mlive entertainment reporter for Detroit and Southeast Michigan. Do the Elderly Pay Taxes on Lottery Winnings?The elderly pay taxes on lottery winnings. You can calculate the exact tax rates on your prize to discover how much money youll actually receive. Generally, the money is paid in one lump sum and then the winner is responsible for taking care of the payments by depositing them into an account of their own, such as a checking or savings account. Most states dont withhold taxes when the winner doesnt reside there. It could be a savings method and ensure that you have enough money in the long run. Here is an overview of exact tax rates by state: Local taxes are the ones that your municipality or county might charge on the winnings. And this is a different kind of luck - it lasts a LIFETIME. This means that if you live in Canada or Mexico, one-third of any winnings over $125,000 ($250,000 for couples) will be withheld from your check. However, you'll have to pay income tax on the payments each year. It varies on your exact location, so make sure to consult the local regulations. For instance, if youre receiving a settlement from an insurance company or from a lawsuit, you may receive a lump sum, and youll need to consider if it makes more sense to get a lump sum or to receive payments. US Federal Law necessitates the Lottery to report winnings of $600 or more to the IRS and withhold 25 percent of any claim of more than $5,000. var cid='5508749140';var pid='ca-pub-9596898681999353';var slotId='div-gpt-ad-remodelormove_com-box-3-0';var ffid=1;var alS=1002%1000;var container=document.getElementById(slotId);var ins=document.createElement('ins');ins.id=slotId+'-asloaded';ins.className='adsbygoogle ezasloaded';ins.dataset.adClient=pid;ins.dataset.adChannel=cid;ins.style.display='block';ins.style.minWidth=container.attributes.ezaw.value+'px';ins.style.width='100%';ins.style.height=container.attributes.ezah.value+'px';container.style.maxHeight=container.style.minHeight+'px';container.style.maxWidth=container.style.minWidth+'px';container.appendChild(ins);(adsbygoogle=window.adsbygoogle||[]).push({});window.ezoSTPixelAdd(slotId,'stat_source_id',44);window.ezoSTPixelAdd(slotId,'adsensetype',1);var lo=new MutationObserver(window.ezaslEvent);lo.observe(document.getElementById(slotId+'-asloaded'),{attributes:true});The lump sum payout for Lucky for Life is the cash equivalent of the annuitized prize which is currently set at $7,000,000. Lottery games usually require you to match a certain number of numbers in order to win a prize. An example of data being processed may be a unique identifier stored in a cookie. If you win the second prize, you receive $25,000 a year for life. Lucky for Life's unique $1,000 a day for life top prize is guaranteed to be paid to winners for a minimum of 20 years. These are usually yearly installments that allow you to spread the payment over several years or decades. It certainly appears that taking the lump sum might be in someone's best interest.". Only 1 in 50,000 people will win the lottery. But the winner also could have opted to annuitize their payout, receiving 30 payments over 29 years. These prizes stick around for a minimum of 20 years or even longer - as long as you're around! Twenty three lotteries across the country sell Lucky for Life and each contributes money back to their local areas, supporting valuable services like education, public health & safety, and environmental protection. The 3 luckiest numbers are said to be 3, 7, and 9. It doesn't matter how many times you win or lose; the prize keeps growing until it reaches its maximum value of $250,000. Cash4Life is an American multi-jurisdictional lottery drawing game; as of April 2021, it is offered by ten state lotteries, and is drawn nightly. The player will now have the option of receiving $1,000 a day for the rest of their life -- paid out as an annual payment of $365,000 -- or a one-time lump-sum payment of $5.75 million. This is computed as federal taxes + state taxes. There are 10 ways to win cash. Continue with Recommended Cookies. The rate is set to 24%, which means that almost a fourth of your winning will go to the national government. Thanks to our simple tool, you only need to enter a couple of variables and check out your tax. If a family member is less than 18 years old, then he or she cannot accept the check on their behalf. Lucky for Life tickets are $2 each and can be purchased at . If you live outside the participating states but are curious about this great game and want to join in on the fun, then why not take a road trip and buy a ticket from an authorized retailer? ", "That would total $2,846,435. You need to have the right tools and knowledge to increase your chances of getting the jackpot. The winners should contact the Michigan Lottery Public Relations Division at 517-373-1237 to schedule an appointment to collect their prize. Didnt get all numbers correct? YouTubes privacy policy is available here and YouTubes terms of service is available here. Most lottery games also provide chances for bonuses or for additional prizes in other ways, such as if you match certain amounts of numbers or if you match certain bonus numbers. Drawings are held every day of the week at approximately 9:38 p.m. CT. Tax Tip: Before you receive one dollar, the IRS automatically takes 25 percent of your winnings as tax money. The tax rate for lottery winnings represents the portion of your winnings that goes to the government. In this article, we are offering a detailed explanation of how to calculate your exact winnings after taxes. Say you make $60,000 yearly and win $100,000 in the lottery. Lucky for Life has 10 ways to win a prize. Other winnings include second prize of $25,000 a year for life; $5,000 for matching four out of five numbers plus the Lucky Ball; $200 for matching four out of five numbers; $25 for matching three out of five numbers plus the Lucky Ball; and $5 for matching three out of five numbers.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[468,60],'remodelormove_com-large-leaderboard-2','ezslot_16',158,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-large-leaderboard-2-0'); Additional smaller prizes are also offered for matching two, one, or none of the numbers plus the Lucky Ball. Drawings are held at approximately 10:38 pm ET every Monday and Thursday. Lets illustrate the tax rate with an example. The third prize is won by matching 4 of the numbers plus the Lucky Ball number. 2023 Advance Local Media LLC. You don't just win once with Lucky for Life, you win FOR LIFE. Lucky For Life is the only game in the country to offer TWO lifetime prizes! On average, winners can expect to have their luck last for at least 20 years. Depending on the game terms and conditions, the prize could be spread in several annuities or across several decades. Related story: 10 quick facts about the $1 billion winning Mega Millions ticket sold in Michigan. Wearing a nine can also be a way to tap into inner resources of strength, courage, and determination. Either way, the decision is a good "problem" to have. These could be monthly or yearly installments, but it is usually the latter. Tax on Lucky for Life Payout. Lucky for Life draws take place twice a week and players from all states (except California) are eligible to play. A quick call to OLG this afternoon confirmed that you do actually receive the money for life (some lottery programs offer "for life" payouts that last as little as 20 years) and that if you win the Cash For Life prize at the age of 71 or older, you can will the prize to someone else and it will pay out until what would have been your 91st birthday. If you are living outside the United States, you might be subject to taxes in your home country. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[580,400],'remodelormove_com-medrectangle-3','ezslot_2',155,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-medrectangle-3-0');In the game of Lucky for Life, players must choose 5 numbers from 1-48 and an additional Lucky Ball number from 1-18. Heres a quick guide on how to use our lottery tax calculator: All lottery winnings are subject to tax. The consent submitted will only be used for data processing originating from this website. Lucky for Life All prize amounts based on a ticket cost of $2. That might lead to spending all the money and going broke without even realizing it. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'remodelormove_com-mobile-leaderboard-2','ezslot_26',168,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-mobile-leaderboard-2-0');if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'remodelormove_com-mobile-leaderboard-2','ezslot_27',168,'0','1'])};__ez_fad_position('div-gpt-ad-remodelormove_com-mobile-leaderboard-2-0_1');.mobile-leaderboard-2-multi-168{border:none!important;display:block!important;float:none!important;line-height:0;margin-bottom:15px!important;margin-left:auto!important;margin-right:auto!important;margin-top:15px!important;max-width:100%!important;min-height:250px;min-width:250px;padding:0;text-align:center!important}You can also use the lump sum to invest or create a plan to cover your expenses for the rest of your life. You can follow him on Twitter @PaparazzoPevos. How much is the lump sum to be set for life? This means your taxable income for the whole year is $160,000. Since the game began in June 2014, Cash4Life has had 15 top-prize winners and 22 second-tier winners. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[728,90],'remodelormove_com-leader-4','ezslot_24',166,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-leader-4-0');Therefore, having only one number doesnt provide enough of a chance of matching the necessary numbers to win a prize. There are pros and cons to both options and its important to talk to a financial advisor or tax expert to discuss the options and get advice on which may be the best option for you. Can You Put Lottery Winnings in a Trust Fund & Not Pay Taxes on Them?You cant avoid paying taxes by putting your lottery winnings in a trust fund. The use of cash prizes has since become standard in most Keno games manufactured by IGT and its competitors. Instead of a one-off jackpot, the grand prize is $1,000 a day for life. Generally, the top prize, when you match all 5 winning numbers plus the Lucky Ball, is the Jackpot Prize of $1,000 a day for life. IGT retained the right to give out cash prizes as part of its new Keno game, while other companies were forced to offer prizes in kind, such as cars, houses, and money cards. It means you wont have it available at once. The ticket matched the first five numbers but missed the Lucky Ball in last night's Lucky for Life drawing to win the game's second prize of $25,000 . The initial happiness starts to fade once you realize that applicable taxes will take away a portion of your prize. Therefore, they do not affect your Social Security benefits. YouTubes privacy policy is available here and YouTubes terms of service is available here. Matching just the 5 numbers without the Lucky Ball will win you $25,000 a year for life. The top prize of $365,000 A YEAR FOR LIFE is paid weekly and the second prize is $25,000 a YEAR FOR LIFE paid yearly. Material Copyright 2023 Lottery.net. The game also typically includes additional prizes and other small awards, such as travel vouchers and gift cards. All you need to do is visit an authorized retailer for your state lottery. About Lucky For Life: For $2, the Lucky For Life lottery gives players a chance to win prizes ranging from $3 to a lifetime of cash. It is important to note that the odds of winning may be impacted by the number of tickets sold or the number of winners, which can vary from one game or lottery to another. If Win the Lottery, How Much Can You Give Away Tax-Free?According to the latest laws, you can give someone up to $15K annually as a gift without having to pay taxes. Additionally, lump-sum jackpots might be smaller than prizes paid in annuities. These jackpot prizes vary by state, the main jackpot prize is typically $1,000 a day for life. "Unclaimed life insurance proceeds are paid out over time in the form of interest charges. They might be able to help you to find a way to qualify for deductions and not end up paying such large sums. But becoming a Mega Millions or Powerball jackpot winner doesnt change everything. So if you invest $100,000 then your award would be $250,000. The top prize is $1,000 a day for life. You dont just win once with Lucky for Life, you win FOR LIFE. In this case, it may make more sense to receive regular payments since they will provide a guaranteed stream of income. In some cases, the money may also be invested, allowing the winner to enjoy interest income and potentially other earnings. Ticket sales began on June 13, 2014, in New York and New Jersey; the first drawing took place three days later. That is why you could end with 20% less sum than what was specified in the promised jackpot. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. No, you do not win anything if you have only one number. For individual odds by prize, visit our Odds & Prizes page. This can be calculated using a tax calculator. Lucky for Life is "The Game of a Lifetime" with a top prize of $365,000 a YEAR FOR LIFE (that's $1,000 per day!) Therefore, you wont pay the same tax rate on the entire amount. So, it looks like Yaldo made the right decision, assuming he lives a long, healthy life and invests his money wisely. You must match the 5 numbers drawn plus the Lucky Ball number. If you manage to match all five main fields plus Touching All Lines, you will win an award known as a "Perfect Game". If multiple players match all 6 of the numbers, they will split the Grand Prize equally. This is the first time a Michigan player has won the game's top prize. Deadlines for making a claim can vary between states, so check how much time you have to come forward and make sure to contact lottery officials while your ticket is still valid. 3. It will take 8.82% of the entire sum. $1,000 a day for life is paid for a minimum of 20 years. Net Payout: The remaining prize awarded to a winner after federal and state taxes are applied. Here is what you should know about the fees you will pay in the United States and worldwide! Here are the top lotteries with the highest jackpots. Players are encouraged to check the Lucky for Life website or state lottery websites for additional details on the rules and payouts of the lottery.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'remodelormove_com-banner-1','ezslot_13',157,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-banner-1-0'); In order to win anything on Lucky for Life, you need to match at least three out of the six numbers that are drawn. 1. Related story: How state of Michigan will hit tax jackpot after $1B lottery winner sold here. Federal tax is applicable on the national level in the United States. LFL's slogan is "The Game of a Lifetime". Several other states, including Wyoming, Washington, South Dakota, Texas, Tennessee, New Hampshire, and Florida dont apply an income tax on the state level. The top prize is $1,000 A Day For Life. There are two conditions attached to this guarantee: first, you must be alive to collect your payment; second, there can be no taxes due on the award. You will find big countries that choose to tax modern rates. Moade. Mega Millions cash jackpot values are listed on the drawing details pages for previous draws and on the main game page for the upcoming draw. Can you take a set for life as a lump sum. The prize options have a minimum payment period for the top and second prizes which is 20 years. If a winner does not come forward in the state where the ticket was purchased within 180 days, the prize is redistributed for use in state programs. Current Powerball Jackpot Wednesday, Feb 22, 2023 $100,000,000 Federal Tax Withholding (24%) Select your filing status. The grand reward is $1,000 each week for the rest of your life. The calculator will display the taxes owed and the net jackpot (what you take home after taxes). So if there are 2 winners, each of the winners would receive $500 a day for life. The list includes Alabama, Utah, Nevada, Mississippi, Hawaii, and Alaska. People who win the Set for Life award can choose between a weekly payout of $1,000 and a lump sum payment of $675,000. Federal Income Tax: 24% The CT Lottery is required by law to report and withhold federal income tax (currently 24%) on all gambling winnings valued at more than $5,000. If you take your money in a lump sum, you'll receive a single payment of $620,000this is equal to the present cash value of the 30-year . Lastly, if you match four of the drawn numbers you will win $100 a week for life. Life settlements are agreements between a company or individual and an insurance carrier where the latter agrees to pay out a certain amount each year for as long as they live. What is the Tax Rate for Lottery Winnings? Prev Draw Date Mon, Feb 27, 2023 Important Notes Ticket costs Some lottery games, especially daily numbers games like Pick 3 and. To date, there have been more than 40 million Lucky for Life winners. If you end up in the top bracket, and that is often the case when jackpots are won, you might pay up to 37% on taxes. People who win the Set for Life award can choose between a weekly payout of $1,000 and a lump sum payment of $675,000. Tickets are sold by 23 different lotteries check out the complete listhere. All Rights Reserved. That is a for-life prize, as the name of the. Lucky for Life (LFL) is a lottery drawing game, which, as of June 28, 2021, is available in 22 states and the District of Columbia. The fact that you have that much money at your disposal is attractive to anyone. If there are more than 14 top prize winners, all winners are required to take the cash option. If the prize includes the purchase of an annuity, then it must be claimed within 60 days of being notified by the Lotteries Commission (Internet Entries) that it has been awarded. However, if you wait until after you die to sell your policy, you might not see as much of a return. However, you will receive that sum in multiple installments. However, the second prize of $1,000 a week for life and/or $1,000,000 cash might have numerous winners. . Win Type. Ticket sales from draw games like Lucky for Life make. Be sure to weigh all the pros and cons with a financial advisor or tax professional to ensure that the decision you make is best for you. The author of Learn How To Increase Your Chances Of Winning The Lottery has won more than $1 million in Florida by winning top jackpot prizes in smaller games. Additionally, if you are a foreigner, you might need to pay taxes in your home state. An annuity also offers more stability and protection against the potential to overspend. Is it possible to win the lottery in Persona 5? As a top prize winner in the Win $1,000 A Week For Life scratch-off game, the lucky Sheepshead Bay resident will get $52,000 a year - $32,398 after taxes - every year for the rest of his life. For example, lets say you elected to receive your lottery winnings in the form of annuity payments and received $50,000 in 2022. Any gain on the sale of assets within the fund (such as premium car titles) will be taxed at your normal income tax rate. If they don't want the check any longer than one year after your death, they can cash it in full. Those who select the weekly payout receive $20,000 per year for five years then the amount decreases to $10,000 per year forever after. In fact, most claimants do not even know they are entitled to the money because it requires filing a claim with the insurer. The tax brackets are progressive, which means portions of your winnings are taxed at different rates. If you match all five main numbers plus the Lucky Ball, on the day of the drawing, then you have won the Jackpot. Lucky for Life is a multi-state jackpot game played in 26 states, including Connecticut. New York is the state with the harshest approach to taxes. The first one is a lump sum cash payment. Lucky for Life is great game that offers incredible, life-changing prizes, but you'll need to be the minimum age to take part. The amount is typically pre-tax and payable annually, and the winner will likely receive the same amount of money each year, with some minor fluctuations due to inflation and other factors. Will winning the lottery influence my tax bracket?Yes, it is possible that what you win in the lottery will influence your tax bracket. The player purchased their ticket online and matched all five white balls and the Lucky ball for the drawing Thursday night -- 7-9-15-31-39 LB: 01 -- to win the jackpot prize. The Deal's rewards have earned them a high ranking once again. Pros: Taxes favor taking the lump sum because rates are . You can easily waste the entire sum without any long-term planning. To get started, you may want to consider some of the more popular ways to pick lucky numbers. A ticket bought at online at MichiganLottery.com matched the five white balls and Lucky ball drawn Thursday night - 07-09-15-31-39 LB: 01 - to win $1,000 a day for life. Many lottery winners who chose lump-sum as their payout option have just ended up blowing the money in a couple of years. In most cases, they will be from 1% to no more than 5%. Password Reset in REST API -8- Trying how it works. In some cases, these prizes may be paid on asplit-prize liabilityand will be lower than these published prize levels. The winning Lucky For Life ticket purchased by 31 year old Donovan Yaldo, of Commerce Township. 39% - $390,000 lump sum. You can choose to invest it into a retirement account or other stock option to generate a return. Decide how many drawings in advance to enter. If you match all 5 numbers plus the Lucky Ball number, you win $1,000,000. Is It Legal to Buy Lottery Tickets Online? More Local News to Love Start today for 50% off Expires 3/6/23. The money instead went to the states School Aid Fund. State and local tax rates vary by location. However, the odds of winning are very low. Cookie Settings/Do Not Sell My Personal Information. Get inside information at your fingertips today! The top prize is $1,000 a day for life. In addition to the weekly, daily, and lifetime awards, some games may also include an award known as "Touching All Lines". He won $25,000 a year for life and chose to take the lump sum of $390,00. Some states may also have additional taxes on lottery winnings, so it is important to investigate the rules in your state before claiming your winnings. To play Lucky for Life, follow the steps below: 1. Whether its better to take a lump sum or to receive payments depends on your individual preference, financial situation, and the type of payment or lump sum youre receiving. We are happy to help you! We have drawings every night, and you can check the numbershere anytime. Winners have one year from the drawing date to come forward to claim the prize. Winning the jackpot price automatically qualifies you for the top tax bracket, which means you may have to pay as high as 37 percent of your winnings as federal taxes and up to 8.82 percent as state taxes. Any profit on your investment is taxed as ordinary income. Jackpot Annuity Payments Jackpot Amount (ex. So if you sell an asset for $20,000 then you would have to include the amount you received ($20,000) in your income. As of 2016, the median age at death was 80 years old, so individuals who sell life policies before they die will usually receive their full reward within ten years. This may not be so bad if you win a $15,000 Ford Fiestayou get a brand new car by paying $5,000 to the IRSbut if you win a sports car that retails for over $100,000, the tax bill would be . Annuities involve paying the prize in installments. In addition to the main jackpot prizes, there are winning tiers below the jackpots, which includes matching 4 numbers plus the Lucky Ball with a prize of $5,000. Also, some states have withholding rates for non-residents, meaning even if you dont live there, you still have to pay taxes to that state. Obviously, everyone's financial situation's are different, but here is what Jeffrey concludes. That sum is calculated per person, so you can give up to $15K to as many people as you see fit. Most lotteries use total funding allocated to the jackpot when calculating this prize. ", "If that same person took the $390,000 lump sum and invested it over 39 years at a growth rate of 8%, withdrawing $25,000 per year, they would accumulate $1,871,435. The exact odds of winning $1000 a day for life will vary depending on the specific game or lottery in question, but typically the odds of winning a top prize are in the range of 1 in 10,000,000 (1:10M). Generally, the top prize, when you match all 5 winning numbers plus the Lucky Ball, is the Jackpot Prize of $1,000 a day for life. Players must. The biggest advantage of annuities is that you will receive a bigger prize sum in total. Lucky for Life Prizes Options The prize options have a minimum payment period for the top and second prizes which is 20 years. This prize earns players a $200 cash prize. In the Spanish El Gordo de Navidad lottery, the most commonly drawn numbers are 54, 8, 38, 19, 28 and 6. The winner will have a choice to receive $1,000 a day for life, paid in annual installments of $365,000 (before taxes), or a one-time payment of $7 million (before taxes). Not having to wait until you receive future installments, The prize sum could be smaller compared to the sum paid in annuities, If you are not sensible about spending money, you could end up losing it, It prevents you from wasting money at once, Bigger prize sums than in lump sum payments, The cash value can drop significantly over time. What is the lump sum payment for cash for life?