Don’t take your lumps. A windfall of cash could run out pretty quickly if the recipient takes the payment in a lump sum. According to author Don McNay, the vast majority of lottery winners who take their winnings in a lump sum blow through the money in five years or less. The same holds true if someone is taking their retirement funds all at once or has received a hefty cash settlement. It’s better to put that money in an immediate annuity that spaces out payments over time

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