Quebec woman chooses $1,000 weekly for life over $1M lottery lump sum
A Laval resident, Maria Caroli, has won the top prize in Loto-Québec’s Gagnant à vie game. She chose to receive CAD$1,000 per week for life instead of a one-time lump sum of CAD$1 million. Loto-Québec keeps winners’ identities private unless they are already public figures.
Caroli secured the Grand Prize, which offered two payout options: a guaranteed CAD$1 million upfront or weekly payments of CAD$1,000 for as long as she lives. She opted for the lifetime payments, ensuring a steady income without immediate tax deductions—Canada does not tax lottery winnings.
Had she taken the lump sum and invested it at a 3% annual interest rate, she could have earned roughly CAD$600 per week in interest alone. To match the total value of the weekly payments, she would need to live until around 78 years old. If she passes away within 20 years, the remaining payments can be transferred to her heirs. Online reactions have been mixed, with many social media users arguing that the lump sum would have been the smarter financial choice. The CAD$1 million option, equivalent to about US$730,084, would have provided immediate flexibility for investments or large purchases.
Caroli’s decision ensures a fixed weekly income without investment risks. The payments will continue for her lifetime, with provisions for her heirs if she dies within two decades. The choice highlights the trade-offs between long-term security and the potential growth of a lump sum.
