(WXYZ) — The Mega Millions jackpot is now over $1.1 billion and with millions of hopeful players dreaming of hitting it big, the question on everyone's mind is: What should you do if you actually win?
I spoke with people who were getting their lotto tickets on Thursday and a financial expert to find out the essential next steps if you win the lottery, and the big responsibilities and complexities of sudden wealth.
"Over a billion dollars when the lottery amount is that much it is life-changing," financial expert Bill Dendy said.
Dendy is a financial advisor lawyer and CPA about the best steps to take after winning it big. He's represented many lottery winners and knows form experience.
"One of the first steps people should take is to contact their CPA, their attorney and their financial advisor," he said.
Another piece of advice is to be cautious about spreading the news far and wide.
"Maintain your anonymity and that is important because people you haven't talked to in 50 years are going to show up when they hear you won the lottery," he said.
But I wanted to know what lottery players do and who they would contact first, and what you would buy.
"Probably call my wife. We just moved into a new house on Friday so I would pay that off," Andrew Hatch said.
"Call my husband first and then I would call my kids and tell them we won," Debbie Nowak said.
"My wife. I better call her or I would have to leave out the house," Kirk Lanford said.
"Just try to live life and share as much as I could," Amena Holley said.
Kirk has played the lottery in the past and has won several thousand dollars, but with a large amount like the Mega Millions, he said he would set up his family for generational wealth.
"All of my deserving grandchildren, I would set up a trust fund and an IRA for them," Langford said.
