By Heather Brown

MINNEAPOLIS (WCCO) — There is no harm in dreaming a little dream of a big lottery win.

Financial adviser Mike Kojenen says if you do strike it rich, the very first thing you should is to put the ticket in a safe place.

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Next, he says you should assemble a team.

“You want to meet with a retirement planner, a financial advisor, an attorney, a CPA,” Kojenen said. “You need to put some roadblocks up to protect yourself and your privacy.”

They can also help you choose between talking a lump sum or an annuity.

“I’d take the lump sum payout,” Kojenen said.

(credit: CBS)

Which, if you win Wednesday’s $460 million Powerball jackpot, would be about $163 million after taxes in Minnesota.

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The annuity, after taxes, would average about $9 million over 30 years.

“Seventy percent of people do lose, you know, the winnings,” Kojenen said.

Only six states allow people to remain anonymous. Minnesota is not one of them.

Your name, city and how much you won is made public here. Having a press conference is your choice.

The last 15 Powerball winners in Minnesota have taken the lump sum. And, if you join them, the new tax plan would make you even richer.

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You would pay $6-million-to-$7-million less in federal taxes than you would have last year.

Heather Brown