What to do if your client wins the lottery
Jeffrey Concepcion, CEO, Stratos Wealth Partners
From a financial perspective, it almost always makes sense to take the lump sum. Despite the heavy bite from federal, state and local taxes in most cases, having control of the money and relying on the long-term performance of a diversified portfolio will ultimately result in a larger bucket of funds in the end. That said, taking into account behavioral factors, one could argue that the annuity option provides 'protection' from self-sabotage.