The biggest mistake lottery winners make

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Dig into the pros and cons of annuity and lump sum lottery payouts, and find out the most common mistakes lottery winners make. -- After winning the lottery, one of the first decisions you’d have to make is how you want your winnings to be paid out. You can choose the full jackpot amount, paid out in annual installments over 30 years. Or you can take a much smaller lump sum paid out immediately. So, which is the better option? Explore the financial implications of annuity and lump sum payments. Directed by Anton Bogaty. This video made possible in collaboration with Gifted Savings Learn more about how TED-Ed partnerships work: https://bit.ly/TEDEdPartner Support Our Non-Profit Mission ---------------------------------------------- Support us on Patreon: http://bit.ly/TEDEdPatreon Check out our merch: http://bit.ly/TEDEDShop ---------------------------------------------- Connect With Us ---------------------------------------------- Sign up for our newsletter: http://bit.ly/TEDEdNewsletter Follow us on Facebook: http://bit.ly/TEDEdFacebook Find us on Twitter: http://bit.ly/TEDEdTwitter Peep us on Instagram: http://bit.ly/TEDEdInstagram ---------------------------------------------- Keep Learning ---------------------------------------------- View full lesson: https://ed.ted.com/lessons/the-biggest-mistake-lottery-winners-make Dig deeper with additional resources: https://ed.ted.com/lessons/the-biggest-mistake-lottery-winners-make/digdeeper Animator's website: https://antonbogaty.com Music: https://www.workplaywork.com ---------------------------------------------- Thank you so much to our patrons for your support! Without you this video would not be possible! Thomas Mungavan, Jaron Blackburn, Venkat Venkatakrishnan, ReuniteKorea, Aaron Henson, Rohan Gupta, Begum Tutuncu, Brian Richards, Jørgen Østerpart, Tyron Jung, Carsten Tobehn, Katie Dean, Ezgi Yersu, Gerald Onyango, alessandra tasso, Doreen Reynolds-Consolati, Manognya Chakrapani, Ayala Ron, Eunsun Kim, Phyllis Dubrow, Ophelia Gibson Best, Paul Schneider, Joichiro Yamada, Henrique Cassús, Karthik Cherala, Clarence E. Harper Jr., Vignan Velivela, Ana Maria, Exal Enrique Cisneros Tuch, Tejas Dc, Khalifa Alhulail, Martin Stephen, Jose Henrique Leopoldo e Silva, Mandeep Singh, Abhijit Kiran Valluri, Morgan Williams, Devin Harris, Pavel Zalevskiy, Karen Goepen-Wee, Filip Dabrowski, Barbara Smalley, Megan Douglas, Tim Leistikow, Ka-Hei Law, Hiroshi Uchiyama, Mark Morris, Misaki Sato, EdoKun, SookKwan Loong, and Bev Millar.