No one won the last Mega Millions drawing, which means that tonight’s $1 billion jackpot is up for grabs.

Ok, so realistically it’s not the full $1 billion that a winner actually collects, but the cash option is over $739 million.

What would you do if you won the Texas Lottery Mega Millions?

It’s exciting to daydream about winning the lottery. For a moment, we can easily imagine paying off debt, renovating our home space, and a million more wonderful ideas. It takes only one ticket to win any lottery, and right now is probably the most exciting time to play (responsibly).

As exciting as it can be to win the lottery, it has also uprooted many a winner’s lives only to end up penniless after mismanaging their winnings.

According to Forbes, these are the 10 things that you need to do when you win the lottery:

  • Remain anonymous
  • Visit a tax professional before you cash the winning ticket
  • Avoid a spending spree
  • Pay off all your debt
  • Handpick and assemble a team of individual legal and financial advisors
  • Invest
  • Set a budget for yourself
  • Protect your assets
  • Plan out your charitable gift donations
  • Review your estate plan

You may think that you don't need anyone's help but having the right people manage your money is imperative.

Winning the lottery will surely change your life forever and with $700 + million dollars at stake, knowing what steps to take to welcome your new life as a millionaire should be as seamless and stress-free as possible.

The last time an El Pasoan won a Mega Millions drawing was 2006, when Martha L. Cuellar won $94 million.

 

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