Lump Sum or Annuity for Lottery Winners?
Lump Sum or Annuity for Lottery Winners?
“From a purely financial standpoint, the advantage of taking the annuity is you don't have to pay taxes on winnings until you actually receive the money,”
While annuity payments can be bequeathed to family members in the event of a winner's death, winners without family or heirs might be better When weighing the decision of whether to choose a lump sum payout, individuals should also take into account the potential tax implications of
jackpot weekly lottery result Many people who win the lottery choose to receive annuities instead of a lump sum This option reduces the risk of excessive spending, but also limits cash The annuity option includes the amount in interest that would be generated over time and is therefore a larger amount than the lump-sum option If the winner
