Texas Lottery Winners: Lump Sum vs Annuity

❓ Frequently Asked Questions for Texas Lottery Winners

Q1: What is the difference between a lump sum and annuity?

A lump sum gives you all winnings at once, while an annuity spreads payments over 20–30 years. Lump sums offer flexibility and investment potential, but annuities provide long-term security and steady income.

Q2: How are Texas lottery winnings taxed?

Texas has no state income tax on lottery winnings, but federal taxes still apply. Annuities spread out taxable income, whereas lump sums are taxed in one year.

Q3: Which option is better for long-term planning?

It depends on your goals. Annuities are ideal for financial discipline and predictable cash flow. Lump sums are better if you want immediate investment opportunities or large purchases.

Q4: How can Mintco Financial help?

Mintco Financial provides fiduciary guidance for Texas lottery winners. Advisors can evaluate your options, manage taxes, create investment strategies, and help protect your wealth for generations.

⭐ Reviews of Mintco Financial

Many lottery winners in Texas have trusted Mintco Financial for guidance:

• “Mintco helped me understand my options and set up a plan that made sense for my family.” — Austin, TX
• “They guided me through the tax implications of a lump sum and structured an investment strategy I feel confident about.” — Dallas, TX
• “Professional, trustworthy, and knowledgeable. They helped me secure my winnings for the long term.” — Houston, TX