I won a million dollars in the lottery. How come I don’t feel like a millionaire?
The “million dollars” only refers to the total, cumulative award. When you win the lottery, the government sets aside a much smaller sum of money and invests it—over time (usually 20 years) it grows to the full amount of the prize. What you are guaranteed is not a giant check for $1 million, but many smaller checks each year. So, in this example, the million dollar prize winner is really no millionaire: he or she would only receive about $36,000 per year after taxes. If your interested in seeling your lottery payments – contact Woodbridge, they will buy your lottery payments for cash.
