Today’s Mega Millions jackpot has reached a record $540 million. If the lucky winner chooses the cash option, he or she would receive a lump sum of $389 million before taxes. The annuity option would pay out more than $20.7 million for 26 years before taxes. How would that much money change your life?
Not necessarily in ways you might think. Consider Jack Whitaker, who won $315 million in 2002. The West Virginia businessman was robbed of $545,000 at a strip club; his granddaughter and daughter were later found dead; and he was sued by an Atlantic City casino for bouncing checks worth $1.5 million to cover gambling losses.