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He also plans to seek advice "from people who know about money" about whether to take the jackpot in 30 payments over 29 years or the lump-sum amount of $124,875,122.
Here's some good advice if you ever win a lottery, TAKE THE LUMP SUM!
There's companies out there that actually bail out people who take payments... They buy their winnings because they're government backed annuities. VERY safe and very high earning... They then resell those annuities to investors and take points off the top.
Very lucrative business but what ends up happening with these people is once they're "the guy who won the lottery" to all their neighbors, friends, family... they're expected to pay for everything everywhere they go. They buy a new house, new cars, etc... but usually people playing the lottery have no experience managing money. They over spend, get themselves in debt and companies like Stone Street sweep in for the bailout.
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