You’re rich! Now what?
Every Mega Millions jackpot winner has the option to take cash now in a one-time, lump-sum payment or to receive a chunk of the winnings annually for 30 years. For the $1.02 billion jackpot, the cash option is $602.5 million
If you took the annuity option instead, you could get roughly $15.3 million for the first payment. Then each one after that increases by 5%. If you die before all of the annual payments are made, the rest will be sent to your heirs.