should you take lump sum or annuity lottery
Got the winning lottery ticket? An economist explains what not to do
should you take lump sum or annuity lottery
website should you take lump sum or annuity lottery While the lump sum offers an upfront payout, the annuity includes one immediate sum followed by 29 annual payments with a 5% increase per year should you take lump sum or annuity lottery This is due to numerous reasons, for example, federal and state taxes may be larger on a lump sum payout vs the annuity option You also don't get the benefit
should you take lump sum or annuity lottery If you want your money right away, you'll want to select the cash option If you want more money in the end, you may prefer the annuity option If you choose to receive the money in annuity payments rather than a lump sum, you will receive a fixed payment each year Many people choose annuity payments You're only taxed once with a lump sum and you can earn more money over the same course of time as the annuity provides It takes discipline
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