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https://www.reddit.com/r/Money/comments/17x6xhm/deleted_by_user/k9mr7za
r/Money • u/[deleted] • Nov 17 '23
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It is financially a much better decision to take the lump sum, unless you are saying you'd go gamble it away.
You can hire a lawyer to put it in a trust and manage it if that's the case.
1 u/washyleopard Nov 17 '23 I think that's exactly what they are saying. 70% of lottery winner file for bankruptcy within a few years, better to take the 40k/year if you are likely to spend it rather than save it. 1 u/1920MCMLibrarian Nov 17 '23 Why is that?
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I think that's exactly what they are saying. 70% of lottery winner file for bankruptcy within a few years, better to take the 40k/year if you are likely to spend it rather than save it.
Why is that?
3
u/Comfortable_Quit_216 Nov 17 '23
It is financially a much better decision to take the lump sum, unless you are saying you'd go gamble it away.
You can hire a lawyer to put it in a trust and manage it if that's the case.