Feeling lucky? You’ll need luck — and lots of it — to win the Powerball lottery jackpot. The odds of taking the grand prize are 1 in more than 292 million, according to Powerball. While those chances are pretty slim, someone has to win. It could be you, right?
Let’s daydream for a moment and say you do hit it big. One of the many decisions you’d have to make is whether you’d take your winnings in a Powerball annuity or a lump sum. Most people want their money now, but don’t cash that check quite yet. You’ll want to think through the two options wisely to make the right choice.