Mega Millions, Powerball jackpots soar
BOSTON - Lottery fever is heating up across the country. The jackpot for Friday's Mega Millions drawing is up to $560 million.
Saturday's Powerball jackpot is even higher. The prize is sitting at a whooping $875 million.
Numbers like those have some Americans rushing to buy tickets and dreaming of what their lives could be if they win. But financial experts say if you are the lucky winner, do not tell anyone right away.
"Take a step back and think about how you're really going to receive this money," said Jennifer Streaks, senior personal finance reporter from Business Insider. "Protect your ticket. Don't rush to claim your prize and also hire a team of professionals before you claim your prize, that are in place to help you with this money."
Streaks suggests it's always best to take the lump sum payout.
While both jackpots are life-changing amounts of money, they're still a far cry from the record-breaking $2 billion Powerball jackpot from last November.