Can you afford to win an expensive prize? Many people don't realize that some prizes aren't free. Taxes and the ongoing costs of ownership can quickly turn some windfalls into major burdens.
This is just the introduction from my latest article over at Investopedia, which discusses the financial obligations that come with winning major prizes such as a house, a car, a vacation, gambling money, or the lottery. If you've ever fantasized about winning such a prize (or have stumbled across this post because you just won something and are trying to figure out how to deal with the taxes) check out Winning the Jackpot: Dream or Financial Nightmare?
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