High on luck, low on bucks

Caution against lump sum in lottery winnings

Even though the American dream has always been if you work hard enough, you can achieve your biggest dreams, who would pass up a chance at millions by just picking numbers? The lottery industry has been scrutinized, banned, promoted, and praised in different areas across the US and remains a glimmer of sudden riches to the common man. Unfortunately, many don't realize that even if you win, large lump sums are often squandered just as quickly as they were acquired. Evelyn Adams won the New Jersey lotto TWICE, totaling $5.4 million dollars. She now ekes by day to day in her old trailer-park home. The key is wise money-management skills if and when the numbers happen to match up right. It's often much better to leave the sum to annuities where it has less of an overwhelming effect and can be wisely budgeted and invested as compared to purchasing all of life's luxuries. It wouldn't hurt either to have your settlements analyzed against the tax system to see what option leaves the most cash in your pocket. It's often said easy come, easy go, but with wise budgeting and safe investment options (even in the current economic mayhem), it doesn't have to be the case.

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