Mega Millions Jackpot of $1 Billion winner was declared to be one from Michigan. Experts came up with their views of the incapability of the human brain to imagine, handle and deal with such an amount of wealth. The prize money had been rising for the past few months with zero winners. This owed to the odds of bad luck and the COVID-19 pandemic. The chances of winning such a jackpot, though might be one in a million, it has finally happened.
After winning the Mega Millions Jackpot, what should one do? From getting the prize money to handling it in the most efficient way, it needs meticulous planning and execution. Several expert researchers have weighed in on that.
Experts’ Opinions On Mega Millions Win
Won $1 billion at the Mega Millions Jackpot? Now what? The most crucial thing is the safety of the winner. And the ticket that won. To ensure that, one must first make a copy of the ticket, sign it on the reverse, and put it in some safe space. Keeping the news to oneself is the best option for this till the prize amount is received.
Advice from attorneys, accountants, and financial advisors would help the winner see through the most profitable, viable, and wise options in handling the wealth. Their guidance will also help them protect the Mega Millions prize from giving it away to scammers, fraudsters, family, or friends.
The Mega Millions prize money offers a choice to the winner to opt for an annuity that will be paid over the next 30 years. Or a lump sum. With expert guidance, and the tax bills taken care of (24% Federal taxes and State taxes), one can go for a more realistic and profitable financial planning. Contributing to charity and donating can help one get a tax deduction as a bonus to one’s philanthropic aspect.