Mega Millions & Powerball jackpots top $400 million. What to do if you win?
By The Exchange Team
Two national lotteries offer lots of cash this week. The Powerball jackpot is $420 million for Wednesday night.
The top prize in Mega Millions is even bigger: $494 million for the next draw on Friday night.
A single ticket matching all six numbers drawn in Powerball or Mega Millions is 1 in 292 million or 1 in 302 million. Multiple tickets don't help much.
1. Push ‘the pause button’
Don't rush to the lottery office. Depending on where you got your ticket, you have 60 or 90 days to a year to claim your prize.
2. Keep your win a secret
Share your wealth with select individuals. Long-lost friends or family — or crooks — may pop up.
3. Tend to your ticket
Safeguard your ticket. Take a selfie of yourself holding the expensive paper and store it in a lockbox, say experts.
4. Build a team of advisors
Some heavy financial decisions lay ahead, so it's good to have a team of specialists assist you.