Although it might be one of the toughest decisions you’ll ever have to make in your entire life, it’s also one of the best ones: do you choose a lottery annuity settlement or a lottery lump sum payout after you hit the jackpot? The Annuity Option. If you choose an annuity, you’d your winnings over…
Category: Sell my annuity payments lump sum
3 Lottery Winners Who Lost It All
What you may not know is that after you win the lottery, you can get your winnings in one of two ways. You can get a lottery annuity settlement, which pays out the fortune in yearly lottery payments for decades, or you can get a lottery lump sum payout, which pays out the entire sum…
How to Recoup the Taxes Lost When Winning the Lottery
Nobody likes paying taxes, especially not lottery winners. The lottery withholds about 25% right off the top of a prize amount for federal tax, and then — depending on the state a winner lives and his or her tax bracket — another 6-9% for state taxes. That doesn’t seem like too much, but when you…
