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Mega lotter fever | Boston Herald

With no winner of Friday's giant Mega Millions lottery jackpot, the big prize for next Tuesday will grow to a…

With no winner of Friday’s giant Mega Millions lottery jackpot, the big prize for next Tuesday will grow to a record $ 1.6 billion, announced the lottery game yesterday.

“It’s really amazing to think that now the jackpot has reached world record world time,” said Gordon Medenica, Managing Director of Mega Millions in a statement yesterday. “It’s hard to overstate how exciting this is – but now it will be really fun.”

If a Hub resident wins the jackpot, here’s what you should do, according to experts: First, a person holding the winning ticket must “keep the ticket safe at all costs,” said Michael Baker, a lawyer who specializes in lottery planning in Massachusetts.

“Keep the news as secret and confidential as possible,” Baker said. “Some of my customers do not want their neighbors or family members to be aware of the profits.”

Baker also recommends hiring a team consisting of an experienced lottery attorney, financial advisor, tax lawyer and accountant. “It’s 1

.6 billion reasons to have teamwork in your best interests,” he said. “These planners can help to prioritize a lottery business needs and develop an investment plan.”

Some people have thrown their jackpot winnings or had friends and relatives coming out of the woodwork and demanding a part of the circle or buckled under the pressure of a financial stormfall that they were not prepared to handle.

“In my experience, most of my customers take the one-off payment and used it smart to invest in retirement or buy homes,” says Baker. “They are excited and incredible.”

For people who are big in Massachusetts, it’s a way for the winners to keep anonymous when they claim their prize at the state lottery headquarters in Braintree, known as trust. “19659002]” I would meet the customer and create confidence, “Baker said. The massacre in Massachusetts will then” take winner’s social number and surname for tax purposes. I decided to pick up the ticket and would open a bank account and transfer the money to the recipient the next day. “

According to the consumer finance website, Americans spend an average of $ 223 per year on the lottery in 2016. Hub residents spent the most nationwide on lottery per capita, at $ 763 per year, reports the site.

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