If you just have just bought a USA Powerball lottery ticket and feel that the Lady Luck is smiling on you this day, read on. It might just be that you are in for luck and are getting to win the Jackpot amount. You can also go to Lottosend.com to buy lottery tickets online if you have yet to purchase a ticket for the upcoming draw, for your information the jackpot for the draw today is worth $193,000,000.
However, while there can be more than one winners of the top jackpot amount, yet one can expect to win anything around $400 million approximately. That just puts you in a great position and though a few people might be sure about the way they would like to invest the money, many might not even be sure about how to cash the money.
Those who are in the finance industry would advise you not to cash the ticket right away without consulting the professional financial advisors or tax planners. However, even otherwise, many people do not realize that there is a window of 30 days in which you can actually cash the money.
Ways to Cash the Jackpot Amount
There are two ways to cash the jackpot amount. One way is to go for cashing out the whole amount right away. The other way is the annuity method of taking the money in installment basis.
When it comes to the second option of cashing out in annuity basis, you would get an amount in the first year, and this would go on for the next 29 years.
Ensure that the winners do not miss on anything; they can get 5% increase on the second installment onwards. This means that they can go ahead and plan really well from there.
What makes the annuity work for the winners is that it shall end up in giving a lot more to the winners, and it shall be a steady way of earning for those who might not be sure of what to do with so much of money at the onset.
Easy Solution for the Lackadaisical Saving Person
Check out powerball.co.com for the latest Powerball lottery results if you want to check your ticket for any prizes. If you do not have the habit of saving any bit of money that you earn and more so now when you have hit the jackpot, opting for this annuity program shall be ideal. People who take the lump sum might actually not foresee the big slab of tax that they might end up paying.
The USA Powerball Lottery is a great dream for everyone and with the Annuity Certain plan, the lottery winners can remain assured that the entire jackpot money would definitely go to him in 30 installments. This is reassuring and is very much a necessity since people might plan to buy estates from this annuity and may have expenses based on this annuity amount.
What happens if the jackpot winner does not live for the next thirty years? If so, the money would continue to go to his or her estate or be redirected to the following surviving heir. That is to say, the Lady Luck which smiled on a person one fine day, giving him the amazing jackpot win, shall also be doing the same to the entire family for the next thirty years.