A self-made billionaire's advice for lotto winners: Cash or annuity?

A self-made billionaire's advice for lotto winners: Cash or annuity? annuity or lump sum lottery Why? Lottery wins are subject to income tax in the year you receive the money If you take the lump sum option, the entire $10 million is annuity option lottery Each payment is 5% bigger than the previous one This helps protect winners' lifestyle and purchasing power in periods of inflation For a typical jackpot of

annuity option lottery No, the lottery does not stop making annuity payments if a jackpot winner dies before the full prize is paid out The remaining prize money will

annuity for lottery winners Basically, lump sum payout really means “one chance payout”, whereas annual payout means “multiple chance payouts” Depending on the state and lottery rules, Once you're ultimately ready to come forward and claim your prize, you'll have a big decision to make: take the annuity option or a lump sum