by admin
29. November 2011 09:06
Hello everyone. J.G Wentworth here and I'm here to discuss options for lottery and jackpot winners.
Most people rarely come in contact with people lucky enough to hit the jackpot or win the lottery, but in my line of work, I have worked with many winners after they "hit for the big one."
Many clients will be faced with the option of receiving lottery payments over time or receiving a lump sum of cash for their winnings. This lump sum will often seem like a lot less money than the payments over time. For example, the lottery could agree to pay you $750,000, or $1,000,000 over an allotted time period in payment increments. People often see the numbers and immediately take the payments over time.
What people tend to overlook is the value of money over time. For example, look at the cost of a gallon of milk today in comparison to ten years ago. As you know, the value of the dollar declines as time passes. So depending on your situation, lump sum payments are often the better option. With a lump sum payment, the money is yours immediately.
For those that have already accepted lottery payments in installments, but have come to realize that they would have received a better value with a lump sum, don't panic. We can buy some or all of your future lottery payments for a lump sum of money. Receiving a lump sum payment can especially come in handy when the opportunity to make a make a major life purchase arises. Whether you need a large sum of money for college tuition, a new home mortgage, or a dream vehicle, we can help.
Contact us today and learn more about your lottery options. We will discuss receiving a lump sum payment now, as opposed to future lottery payments, and then you can decide which option is better for your particular financial needs.