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  • It's crucial to think about your preferences for receiving your winnings—as a lump sum or in yearly installments—as well as how this choice might affect your future financial situation. By taking these preliminary actions, you can make sure that you manage your newly acquired wealth wisely and position yourself for long-term financial security. It can be difficult to manage a sizable sum of money after winning the lottery, but you can use your newfound wealth to your advantage with thoughtful planning and assessment.
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