You want somebody to look after and monitor your bank accounts, your investments, but also professional security to protect your safety.Īn accountant to give you a recap every month or every week on your money, where it's going, your spending, how your investments are looking, because you're going to want to grow your money.Ī financial advisor to help you build and create your wealth so you can pass it on to future generations. The first would be a lawyer, who would help you structure a legal entity trust that protects your money. You're going to want to look into hiring six different professionals. these are time-stamped items of proof that you actually own the ticket. Make digital copies (on encrypted storage) or print copies of your ticket. What actions should lottery winners take? And get a new phone number and email address, because it can be easy to find both online. You'd want to delete your social media or make it private until you figure things out. Go private until things get under control. This leads back into the first point because you could become the victim of robbery, or people can try to extort you. I would say put it in a safe place, and depending on the state you're in, you can claim it anonymously (Delaware, Kansas, North Dakota, Ohio, South Carolina or Maryland). (Darron Cummings/AP) Someone just won the lottery jackpot, what should they refrain from doing?Īndrew Lokenauth: One: Don't sign the ticket, because once people know who claimed it, everyone is going to be rushing after you. Some answers have been lightly edited for length and clarity.Ī Hoosier Lottery employee holds Mega Millions tickets at the Indiana State Fair in Indianapolis on Thursday. Yahoo News spoke to Andrew Lokenauth, a personal finance expert and founder of, for some tips on what to do, and not to do, if you are the jackpot winner. In fact, compared to the average American, lottery winners are more likely to declare bankruptcy within three to five years, due to a lack of financial planning. While securing the golden ticket is all a matter of luck, holding onto one’s newfound fortune after such a windfall requires some strategy. "At this level, jackpots are hard to predict with complete accuracy," a Mega Millions news release said. If won, this jackpot could be the largest in the game's history, potentially beating out the 2018 record jackpot of $1.537 billion won in South Carolina. Use our Mega Millions payout and tax calculator to find out how much taxes you need to pay if you win the Mega Millions jackpot – for both cash and annuity options.There’s still a chance - 1 in nearly 303 million – for a lucky winner to score the Mega Millions jackpot, which climbed to an estimated $1.55 billion after no ticket matched all six numbers after Friday's drawing. How much tax do you pay on Indiana Mega Millions winnings?īy law, Indiana lottery will withhold 24% of winnings for federal taxes and 3.23% for state income taxes. Indiana Mega Millions ticket sales stop from 10:44 p.m. How late can you buy Mega Millions tickets in Indiana? Mega Millions drawings are held every Tuesday and Friday at 11:00 p.m. Indiana is one of the states that offers MegaPly ®, which can increase the non-jackpot prizes by 2, 3, 4, or 5 times for an additional $1 per play. You can also win non-grand prizes ranging from $1 to $1 million by matching one or more numbers as detailed in the Indiana Mega Millions payouts and prize amounts chart above. You win the Mega Millions jackpot by matching all six numbers in the drawing. Indiana Mega Millions FAQs How do you win the Indiana Mega Millions? Powerball Calculator: Payout, Tax & Annuity Explained.Mega Millions Calculator: Payout, Tax & Annuity Explained.Lottery Odds Calculator: Calculate Your Odds of Winning The Lottery.
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