Congratulations – You Won the Lottery
I read an interesting article the other day in regards to Lottery Winners, did you know that 90% of Winners take the lump sum vs the monthly installments / 30 year annuity? Taking the lump sum basically reduces the publicized Jackpot by 50% or more, but then you have to pay income taxes on the 50% that you received, so a $2 Million lottery prize could net an individual $650,000 – $700,000 or less based upon state and local income taxes. Besides that, we’ve all Continue reading →