A Lumpy Deal When it Comes to Lottery Winnings

Who can explain the joy of winning big bucks in a lottery? The thrill of seeing the numbers pop up on those little balls as you look at your ticket is indescribable. Some people find out they won by reading the numbers reported in the newspaper or on the internet. The thrill is still the same. Until…..

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.

Though you could have taken a lump sum payment at one point, once you choose the annuity, you’re stuck. Or are you? You can sell your lottery payments through a structured settlement broker and get the lump sum payment you now want. You are not stuck with that lumpy deal any longer. You can take the money and re-invest it or buy some real estate or pay college tuition or do a hundred other things that the annual payment the lottery is paying you won’t accommodate.

You can turn a lumpy deal into a smooth one that works for you.

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