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A Canadian teenager who bought her first lottery ticket to celebrate her 18th birthday took home a jackpot prize from the Gagnanta Vie lottery. Charlie Lagarde opted for a weekly lifetime pension of C$1,000 over the option of receiving C$1 million.

Lagarde, who lives in Montreal's southeastern Monterezi region, decided  to celebrate her entry into adulthood by purchasing a bottle of champagne and a scratch lottery ticket for the Gagnanta Vie lottery. The $4 lottery ticket I bought at a convenience store turned out to be lucky. She won the grand prize and was given the opportunity to receive a lump sum of $1 million or $1,000 a week for the rest of her life.

According to an announcement released by Lotto Quebec, the young winner took weeks to decide on the best option for her and met with a financial adviser. The expert told her that considering her age, she should choose a weekly salary of $1,000. She made this choice because this way, the amount is not taxed. Patrice Lavoie, a spokesperson for Crown Corporation, said that since there is no tax, the monthly payment will amount to more than $100,000 in annual salary.

The teenage girl won the award at the headquarters of Roto Quebec in Montreal . When asked about his plans and what he intends to do with the money, Lagarde said he wanted to travel and study photography, although his dream was to work at National Geographic one day.

How many of us would choose a weekly pension over an attractive $1 million lump sum? Most winners choose a large lump sum without thinking too much. Interestingly, many financial experts will give the same advice, despite the fact that in most countries lottery prizes are taxed when paid at once. In the United States, winners have to pay taxes on both options. So why did Charlie Lagarde's financial adviser ask her to choose a weekly salary?

Most financial experts argue that a successful asset allocation portfolio is a much better option than pension lifetime income, although it is reasonable to always pay in cash rather than a weekly or annual salary that can increase taxes over time.

In fact, most people are always at risk of losing all their money due to poor and bad investment decisions in wealth management, spending on luxury goods, and giving big money to family and friends. This is why Lagarde's choice of a weekly pension is a wise decision, especially given her age. But the tax shortfall of this option is all the more important.