Lump Sum or Annuity? What the Illinois Lottery Winners Chose for

lottery lump sum
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Most lottery winners have the option of receiving their money as a lump sum payout or in the form of an annuity Advice from a financial advisor

Pros: Taxes favor taking the lump sum because rates are so low right now In 25 years, who knows? Financial pros also point out that with a

lottery sambad 662023 Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments

lottery sambad 19_09_23 Opting for the lump sum entails immediate access to a discounted amount of the total prize after taxes In contrast, the annuity option