Mega Millions is one of the United States’ top lotteries and it has recently touched the $372 million mark and is waiting to be won.
The last draw was on 13 December which no one won and the next draw is scheduled for 17 December.
The only barrier to winning that amount is matching six numbers. The odds are pretty tough to hit a $372 million jackpot but there will eventually be a winner.
Here’s a quick primer for those who are dreaming of winning this jackpot and could end up being lucky enough to win it.
# Don’t Announce It to The World
The first thing that you should do is to keep quiet about the win. The fewer people who know about your win, the better it is for you. If you let everyone know that you have won millions, you could create trouble for yourself as you might get ‘relatives’ appearing out of nowhere asking for money and might make yourself a mark for criminals.
This is why many experts advise anonymity. The problem is that some state laws require disclosure. For those who can’t hide their win, the advice is to change phone numbers or even move somewhere hard to locate.
# Take Care of Your Ticket
The winning ticket is the only proof that someone won. This is why experts recommend that the owner sign the back of the ticket. This is mainly because whoever signed the ticket is considered the winner.
Take note that you should protect the ticket as much as possible. As for claiming the win, you should review your state laws. If possible, you might want to hide behind a trust or other legal entity so that you can maintain your anonymity.
# Don’t Rush To Collect
A common mistake that many winners make is that they are in a rush to claim their prize. The best thing to do is to relax. Whoever is holding the ticket is already the winner. Take your time and prepare before you go to collect your winnings. This is why, it is a good idea to have a lawyer, an accountant, and a financial planner ready before you lodge your claim.
# Think About Taxes
The biggest decision the Mega Millions winner has to make is how to claim the prize. They can either get a lump sum or wait for a three-decade payout. They have to remember that 24 percent of the money is already earmarked for the IRS and another 24 percent goes to federal taxes. Winners may also pay more taxes depending on their state. This is why a good financial plan should be ready so that winners can pay all those taxes and still enjoy their wealth.