Financial advisors usually recommend lottery winners spread their winnings out over several years to avoid temptations of spending the money too quickly. But with the fiscal cliff threatening to shrink the prize money through a bundle of new tax hikes, advisors are recommending the winner takes the lump sum as soon as possible. “A lump sum could save you millions in taxes,” Matthew Goff, a financial adviser in Houston, told Marketwatch.
- Read more at Marketwatch
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