The Powerball jackpot soared to an estimated $1.4 billion as of Oct. 6, 2023, according to the Multi-State Lottery Association.
The Powerball jackpot has soared to an estimated $1.4 billion ahead of Saturday night's drawing — and financial experts have tips for the lucky winner.
As the third-largest prize in the game's history, the winner will pick between a lump sum worth $614 million or an annuitized prize of $1.4 billion.
The biggest pitfalls for lottery winners are excessive spending, poor investment choices and family members asking for money, said Andrew Stoltmann, a Chicago-based lawyer who has represented several lottery winners.
"Saying 'no' to family might be the toughest thing that lottery winners have to do," he said.
Persons:
Andrew Stoltmann
Organizations:
State Lottery Association
Locations:
Chicago