When it comes time to payout lottery winnings, you’ll find that the governments and companies that run these lotteries prefer to do things their own way. That isn’t to say that there aren’t some industry standards, though. For example, just about any winnings you earn likely won’t be paid to you in one lump sum….
A typical annuity settlement comes slowly over time. This might seem like a good thing but life rarely waits. While a steady sum may build up over years, it isn’t always enough to handle situations that arise quickly and can spiral out of control. Annuity fees over a given year can be 3%, after all….