What Is a Lump-Sum Payment, and How Does It Work?
What Is a Lump-Sum Payment, and How Does It Work?
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Immediate annuities are often purchased by people of any age who have received a large lump sum of money, such as a settlement or lottery win, and who prefer to
Depending on their state laws, they would still have to pay state taxes Typically, most winners choose the lump sum and can, in theory, start When you win the lottery jackpot, you're given a choice between a lump-sum payment or an annuity paid out over nearly three decades Most
ultimate lottery winners Those playing should know that while the jackpot advertised is $ billion, after taxes, the figure drops to $ million The lump sum Many people who win the lottery choose to receive annuities instead of a lump sum This option reduces the risk of excessive spending, but also limits cash
