Powerball and Mega Millions players I have some good news for you! You have a chance to WIN in tomorrow nights drawing. There was no winner over the weekend so the amount has gone up to $363 million. Head on out and pick out your lucky 6 numbers. Going into 2021 RICH is not a bad idea.
According to CNBC ...Annuity or lump sum?
You get to choose between taking your winnings as either a lump sum or an annuity paid over 30 years. For the Mega Millions $376 million jackpot, the cash option is $287.4 million. For the $363 million Powerball prize, that amount is $279.2 million.
Experts usually recommend getting the money all at once — which is what most winners go with.
“Taking the lump sum distribution would be the preference,” Boneparth said. “Doing that puts you in greater control of the money.”