An example on double taxing...............................I win big in the mega millions. Next I go to a Tax attorney to set up a trust fund............(although I hate attorneys) but believe me, I would shop around.
I already have paid my taxes on the lump sum the rest goes into trust......it is a generous trust. It leaves me much spending money per year. I don't need that much money; I am very comfortable now. I invest the money in some stocks or municipal bonds, something.........................well, two years from now I need to get that money out of stock and bonds because I am having a serious operation. I cash in the stocks and bonds...........I have made a profit...................taxed again.
First, with the lump sum and again when I take a capital gain. ====twice taxed on the same source of money.
Could be the same with an annuity but you will have less money to work with.
VisionDude had it right in his post............I think digging a hole somewhere and burying it so you don't have to pay anymore taxes but in my other post, I talked about digging a hole. The other option is that LLoyds of London insurance company........insure the money......it would cost a lot but probably well worth it.
Beside that all, if I won big............believe me who cares about interest and taxes? I might even maybe even give Vision Dude a vacation to the ocean so we can go fishin' together. It would be interesting to see who would feel the most successful................him with his 1 big fish or me with my 20 medium sized fish.....lol
