If the winner is older, the lump sum may be the better choice, Love said. “If you accept the lump sum, you get all the money at one time, you get to invest the money however you want it to be invested, and you’re paying tax at a time when the effective tax rate is the lowest in a generation,” he said.

As the Mega Millions jackpot continues to rise to higher and higher numbers, here is what you need to know ahead of the next drawing.