Wednesday’s Powerball lottery jackpot has reached a whopping $700 million, the second-largest in U.S. history

People all over the Garden State have been rushing to their local lottery retailers to purchase tickets in the hopes of becoming the country’s next millionaire.

People all over the Garden State have been rushing to their local lottery retailers to purchase tickets in the hopes of becoming the country’s next millionaire.

Certified financial planner Nahum Daniels says that lottery winners should be cautious of all of those who will want to share in the good fortune.

"Family members, friends and especially strangers who hear that you have suddenly come into great wealth [will] come up with some great ideas for how you can part with it,” he says.

Daniels also says any amount of money can be squandered away without planning, saving and sound financial advice.

“It's amazing how hard it is to accumulate and how easy it is to burn through,” he says.

The Powerball drawing will be at 11 p.m.