Every year, those dollar amounts lose buying power. When you think about it, that can have a lot of impact on what a big winner is able to accomplish with the prize money, in terms of long-term security. An alternative to waiting for cash winnings paid out over time is to contact Thompson Funding Group. Something slightly less than the face value of the award would be paid out, but the winner, through proper planning, could invest the money and live off the interest. Then, after the end of the award pay-out time, the winner would still have that lump sum amount in investment accounts to rely on.
Financial planning is the key.
This would also work for any contest or casino jackpot winnings. You can sell all or part of your payments, whatever is in your best interest. There is absolutely no cost or risk to convert your winnings into a single payment. All legal, administrative, and closing costs are paid by us. This isn t a requirement, this is only if you opt to do so.