28
Sep

The Difference Between Lump Sum and Annuity Payments

Written by Best Financial Magzine. Posted in Sell my structured settlement for cash, Sell my structured settlement payment, What to do when you win the lottery

Selling a structured settlement

You and your coworkers decided to go in on a lottery pool. You never actually thought that you would be a winner. However, you soon learned that one of the tickets actually hit, and you are one of the lottery winners. You wonder how this will work. You turn in the lottery ticket, and you are given two options for payments. You can, one, choose to receive a lump sum payment, all of your funds at once. You can also, two, choose to receive monthly structured settlement payments. You decide to go with the second option, so that you are not tempted to spend your winnings all at once. There are a lot of things present when it comes to the difference between lump sum and annuity payments.