![]() ![]() ![]() This should include a lawyer and a financial expert. Put together a top-notch team of trustworthy, well-vetted advisers who can help. For most of us, a lottery windfall is more money than we’ve ever had to handle. “If all you’re going to do is put it in safe, conservative state and federal bonds or a high-yield savings, under no circumstances should you take a lump-sum payout, because the lottery association will do that for you and you get to defer all of that taxation,” advises Matheson. Don’t take a lump-sum payout and put it in a high-yield savings: If you choose to take a lump sum, Mathseson advises against parking it in a high-yield savings.So what to do if you find yourself in those lucky shoes and are suddenly faced with such a dilemma? Do you take the money all at once? Take annuity payments? Invest it aggressively? Here are some do’s and don’ts to consider: Of those who do beat the odds and win, about 99% opt to take the lump sum payment, says Matheson.
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