What are good things about getting annuity payments?

[Mike_25]

When I win a lot of lottery money, I have a choice between getting all money now or getting payments over time. I think getting payments over time is better for me because:

I don't get all money at one time, so less chance I spend all money fast. The payments I get go up little by little each year with costs getting higher.I keep getting payments for long time, so I have money coming in for future.The payments I get are safe from stock market going up and down.

I would like to hear from people who chose to get their lottery winnings over time. Did the good things I mention happen for you?

 

[James108]

Annuity payments can provide a steady stream of income over a long period of time. This can be helpful for budgeting and planning for the future. Second, annuity payments are often tax-deferred, which means that you won't have to pay taxes on the money right away.