As a matter of economics, $25 million in one lump sum is always better than the same $25 million spread out over more than one year. With the lump sum, you can

As a matter of economics, $25 million in one lump sum is always better than the same $25 million spread out over more than one year. With the lump sum, you can do whatever you wanted to do, now. With the "annuity", you must continue earning the annuity each year, which significantly limits your options.