When you win the lottery, odds are you will receive regularly scheduled payments throughout your lifetime. By having a series of payments for your winnings, you will have a payment stream that continues throughout your lifetime.
After you have won the lottery, you can sell your long-term payment stream for a lump sum amount that you can spend and control now. By doing this, you can make the most of all your winnings now while also preparing for your future and the future of your loved ones.
You may wonder why you should even consider selling your winnings for a lump sum, but there are actually many advantages to doing so. If you have a huge winning, it will be paid out over a 20-year to 25-year timeframe after having been rolled into an annuity. Often these are life contingent payments, meaning that if you die, no payments will be made to your heirs.
There are a few reasons to consider selling your long-term payout for a lump sum. Just look at the history of inflation. If you look at it during the more recent years, which has been 3% to 4%, and you also consider the increased cost of living and taxes, there could be numerous advantages to investing a lump sum payout now.
If you sell your winnings for a lump sum payout, you can actually grow it into a sum that is larger than the original winning amount. When applied or invested wisely, the amount of the funds can exceed the original winning amount. Selling your lottery winnings can be done in a flexible manner that is most convenient for you.
In order to ensure you are making the right choice for your situation, you need to consult with an attorney and/or a financial advisor. Companies that buy structured settlements also have experienced, straightforward team members on staff who can help you throughout the process. Working closely with them, you can make the right decision for your particular needs and the given situation.
Remember, deciding to sell your lottery payments or winnings can be a difficult decision. You need to look closely at the situation, study the offer made by the buyer and then look at how you will use the lump sum. Regardless of whether you choose to sell or keep your lottery payments, you need to make the decision that is best for your current and long-term needs as well as the needs of your family.
These are just a handful of the possibilities. The ways you can use your funds are virtually endless. Jot down notes of bills you plan to pay or purchases you need to make so you can keep a running tally of how much money you need to get for selling a portion or all of your future lottery payments.
The cash surrender value is the amount of money you will be paid for your lotto payments. This is the amount you can expect to be paid for selling your lottery payments.
To learn more about selling your structured settlement or lottery winnings, call AnnuitySold. As one of the nation’s leaders in the purchase of annuities, lottery winning, and structured settlements, we have the experience it takes to get the transaction completed quickly and to ensure you are fairly compensated for your future or current payments. Contact us now to learn more about our services and how we can help you.