I know that lotto winnnigs can be paid out as an annuity. My question is if you take the lump sum payout can you use that to fund an annuity?
Is it possible for a 20 year single premium deferred annuity to make more money from interest than the 20 year lotto payout?
2006-11-11 04:50:26 · 5 answers · asked by Mike R 5 in Business & Finance ➔ Personal Finance
I'm asking because the grand old woman of our department said that it can't be, but I can't see why not.
No, I haven't won. I'd be asking professionals if I did.
2006-11-11 07:38:43 · update #1
Is better to take the lump sum of your lottery winnings and invest some in GIC or investments that are giving you some sort of income in return. Go to an good accountant and they would help you in the right direction. I would honestly pay off my debts or anything that is owing including a mortgage. Have some money placed into an account for you to live off from. The rest of the money let it work for you. If you are a single person or involved in a relationship and decide to get married have a pre-napp agreement worked out. Be wise with your money, everything else will fall into place. Money does make life easier.
2006-11-11 05:12:04 · answer #1 · answered by Anonymous · 0⤊ 0⤋
you can do whatever you like with lottery winnings.
and from what I've read cash out, invested well, is always better.
if you've won always see a CPA for the best financial advice.
and donate some to help the homeless disabled. thank you!
2006-11-11 05:00:20 · answer #2 · answered by macdoodle 5 · 0⤊ 0⤋
Get free rates
2015-02-04 18:51:20 · answer #3 · answered by Basil 1 · 0⤊ 0⤋
i don't see why not either, you should ask her.
2006-11-12 06:45:25 · answer #4 · answered by LD 5 · 0⤊ 0⤋