Getting More Cash From Your Lottery Winnings
Hitting the lottery is every persons dream. With the money you’ll win you’ll be able to do many things you were never able to do before. At least that’s the way it seems. The truth is that many lottery winnings are awarded through a structured settlement which only pays a small portion of the total amount of the winnings per month. There is, however, a way to get more of your cash now.
Instead of waiting for those monthly payments to arrive, and then saving them up until you have what you need, you might consider selling your rights to all or some of those future payments to a third party. Be sure you’re dealing with a reputable company, though, that has the capital to back up the sale. The Better Business Bureau is a good place to start looking.
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A Lumpy Deal When it Comes to Lottery Winnings
Yes, winning a $1 million is fantastic. But it loses some of its appeal when you find out the annual payment is $22,000 plus or minus some dollars and is paid out over 20 years. Isn’t that less than poverty income level? The annual lottery payment is nice, but a lump sum would be much better.
Read moreWhat is the Lottery Secret?
If you want the full advertised amount of the Lottery Jackpot you have to take the payments over time. To get the full 180 million you will have to take the lottery payments in a form like an annuity or structured payment stream.
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