Interesting that very few Lottery winners chose to take their winnings in yearly payments.
Interesting observation.
I wonder if the money depends on the financial solvency of the state or are they “insured” by some financial organization like an annuity.
I’d just take the lump sum and live off the interest.
One must assume the lottery or bank holding the funds will remain viable to take the monthly payments. One crook in charge or bad luck bank and you could get little to nothing.
I think this is the main reason people take the lump sum payment because it’s guaranteed money.
Considering the direction the dollar is going, that’s quite understandable. How would you feel having won a billion German Marks, payable over 20 years, about a century ago? What would once have made you wealthy beyond compare wouldn’t buy a sandwich much less than 20 years later.
even those who do take yearly payments soon find themselves selling future payments to structured settlement companies for a lot less than cash value
It can and has been done.