If you are one of the 50% of Americans who play the lottery you have probably heard it all from friends and family before:
- You have a better chance of getting hit by lighting, twice!
- You Are wasting your money!
- No body ever wins!
Baring all the objections in mind have you ever thought about what you would do if you actually did win? Many people might not be aware that if you win the lottery, it is only the beginning of the process. For example the local and state government both take out taxes from the winnings right off the bat.
Lump Sum Versus Annuity
Assuming you were to win Mega Millions, the lottery payments would be paid out yearly over the course of 29 years with the payments being incrementally more each year. If you
Winning a structured settlement can be a great source of steady, regulated income over the next few decades. These settlements, which are typically awarded in life insurance payouts and employee lawsuits, allow you to get your compensation over time rather than all at once.
Yet financial situations change all the time, and what may have seemed like a sound source of income for the future might now be putting your finances in jeopardy, because you could be using that money to pay for your current unexpected financial obligations. If this is the case, don’t worry — you always have options. And one of the best options to help you avoid a financial crisis might just be to sell structured settlement payments in exchange for a lump sum.
Completely new to the idea of getting your Continue Reading No Comments