What to do if you win the Mega Millions Jackpot according to a financial advisor

LAFAYETTE, La. (KLFY) – And the winning Mega Millions Jackpot numbers are…. 15,23,53,65 and 70 with a Mega Ball of 7.
It’s the game’s largest winnings ever, and the second largest lottery grand prize in United States history!
The odds of winning are around 1 in 302 million.
But if you did win, financial experts are advising you to not blow through all that money at once.
Excitement in the air, as 6 winning numbers could potentially change someone’s life forever…
“I normally don’t play the lottery that much, I mean but it’s the chance of a lifetime, so it’s just something you have to take a chance on,” said Doug Canday.
“Do things with family. I have pretty much what I need right now,” said Carolyn.
If you won, it would mean a cash value of more than $565 million after taxes.

The prize has grown so large because no one has hit the jackpot since July 24.
“Well number 1, I wouldn’t tell anyone you won for sure,” said John Blanchard, an advisor.
He says it’s smart to stay under the radar if you’re the lucky winner.
“When people find out you have that kind of money, the more money you have, the more relatives you have. So everybody comes out of the wood works,” said Blanchard.
With that kind of money, you could buy roughly 455 Mercedes Benz G Class SUV’s.

And a Caniac Combo, no slaw, extra toast and dipping sauce, you could get 41 million of those!
There is 3 things you should do if you win.
“Number 1, I would definitely pay off all my debt. If you have young children, allocate money to put towards their college. Number 3, allocate money to any other expenses that you have planned in the future. And from there, find a licensed professional that can help you manage the money for the long haul,” said Blanchard.
Financial experts can help you grow that money and reserve it and minimize taxes in the future.
“For sure look at what your goals are, and what you want to do and what you want to accomplish, there may be different foundations that you want to donate too,” Blanchard stated.

If you’re not the lucky winner, you may want to grab a Powerball ticket too.
As there’s now a $420 million dollar jackpot up for grabs when those numbers are chosen Saturday night.

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