Take the money! Don’t you want to just scream that to anyone who will listen? Now that the first billion dollar lottery has been claimed by at least three different individuals from three different states, don’t you want to just tell everyone who will listen that you would take the money instead of a lottery annuity if you had the chance.
You just have to know that this is the topic of conversation around every water cooler and lunchroom in every place of business today. After holding out hope that you might actually have a winning ticket yourself, you have to face the reality that you did not win this time. You can still, however, imagine what you would have done if you had indeed been the lucky winner. If you are really bored you could start creating a list of reasons for each of the two options should you win next time.
Reasons to Take the Cash Instead of a Lottery Annuity Settlement

• You can pay off all high interest credit card debt.
• You can pay to get a new college degree and pursue a new career.
• You can pay for your children or grandchildren’s college tuition.
• If you opt for a lump sum you can earn interest on your winnings, instead of the holding company earning interest.
• You can take your dream vacation.
• Nearly 90% of the winners who sell their annuity are happy with their decision.
• If you sell your lotto win for a lump sum you can pay off your home mortgage or buy a vacation home.

Reasons to Take the Lottery Annuity Settlement

• The annuity agreement for the Powerball includes 30 annual payments that actually increase over time.
• Selling off an annuity and taking cash, you can be charged a surrender fee of up to 10%.
• Taking your money over time means that you can not spend all of your winnings at once.
• Spreading your winnings out over several years means that you will have a nice retirement income.
• As indicated by the 37,000 Americans who use structured settlement money every year, it is a reliable arrangement.

You may only be standing at the water cooler or in the lunchroom right now, but with some major luck you could be the next winner of a big cash settlement. Perhaps it will be through a lottery payment, or perhaps it will be the result of a medical or personal injury lawsuit. No matter what the source, making the decision to take the money up front in a major lottery or legal win is often the best decision.
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