Lump Sum vs Annuity: Which Lottery Payout Is Best? -

should you take lump sum or annuity lottery
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The IRS taxes lottery prizes differently depending on how the winner chooses to get paid You have two choices: lump sum payout or annual

If the jackpot is $500 million, that means the cash option would yield a one-time lump sum payment of $ million The annuity option would

should you max bet on a slot machine To illustrate how lump-sum and annuity payments work, imagine you win $10 million in the lottery If you take the lump-sum payment, the entire winnings would be

should i buy a lottery ticket 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