Lottery winnings: Should you take lump sum or annuities?

annuity for lottery winners
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As mentioned, the annuity option means you'll receive a check every year with another, slightly larger portion of your lottery winnings While

Annuity payments allow lottery winners to collect an initial payout, followed by smaller portions of their winnings over the course of 20 or 30

annuity calculator lottery While the lump sum provides a full prize up front, the annuity offers one immediate payment, followed by 29 annual payouts that increase 5% each

annuity lottery The annuity option is a protection against blowing through the winnings and allows you to enjoy the benefits of your winnings in a stable