Full episode
329: Nice Work If You Can Get It
Act Two

Show Me The Annuity

This American Life producer Alex Blumberg talks with Ed Ugel, who had a very unusual dream job: He bought jackpots from lottery winners. When you win the lottery, your prize is often paid out in yearly installments. And Ed would offer winners a lump sum in exchange for their yearly checks. He's talked with thousands of lottery winners, and the vast majority, he says, wish they'd never won. Ed wrote a book about his years in the "lump sum industry" called Money for Nothing: One Man's Journey through the Dark Side of Lottery Millions. (19 minutes)

Song:

“Work Song” by Vince Gueraldi