Make sure you vet anyone you hire, as you’re likely to be approached by hordes of advisers looking to guide you. A reputable team of experts can help you manage your investments, help guide your philanthropic interests, and help you achieve other financial life goals. With your lottery jackpot winnings, one of the best ways to protect against financial loss is to hire a team that can help preserve and grow your new-found wealth. That’s not necessarily the best financial choice in terms of investment return, but it may help you remain organized and limit any potential financial losses. This is based on classic financial wisdom on the time value of money that says: “A dollar today is worth more than a dollar tomorrow.” That said, if you're concerned about spending your money too quickly, then choosing the annuity payments may be more prudent. Why? You can invest your winning upfront and earn a stable return that could exceed the amount of the annuity payments. Which option is better? Financially, the lump-sum payment is preferable. Alternatively, you could choose 30 payments of approximately $15 million each over 29 years (and you’ll be responsible to pay taxes as you receive annuity payments). For Powerball, for example, the upfront, lump-sum cash option is $331.6 million (minus withheld taxes). If you're the next Powerball or Mega Millions winner, you must choose between an upfront, lump-sum cash payment or annual payments. Choose between the lump sum and annuity payments
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