Lump sum or annuity?

Quote: beachbumbabs

Hopefully pissed off at yourself for twice being an idiot. First to take the annuity if you won, second for selling to them. They're not in business to profit or help you.

Depending on jackpot size, taking an annuity may make the more sense tax-wise. I knew someone who won a jackpot in the millions, and after consulting his tax attorney elected for the annuity. He was very business-savvy, and for his goals and lifestyle, the annuity made the most financial sense.

Also, as I understand, many legal settlements are paid out as annuities, so you may not have much of a choice there. I think this is JG Wentworth's target market, more so than lottery winners.

Buy, yeah, I wouldn't be a bit surprised if JGW's offers gouge you with pay-day/title/wiseguy loan interest rates.

Quote: Joeman

Buy, yeah, I wouldn't be a bit surprised if JGW's offers gouge you with pay-day/title/wiseguy loan interest rates.

Of course they do, that's how they pay those singers in their commercials!
Similar to reverse mortgages.
Similar to APs hiring someone to work for them....... (just teasing, Axel...)