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Winners of a $33.5 million Lotto jackpot are being urged to put their mind-boggling new fortune into short-term savings while they “catch their breath”.
The winning Powerball ticket was bought from a Fresh Choice supermarket in Christchurch’s Merivale Mall, but the owners took more than a week to claim their life-changing millions.
The prize, which Lotto NZ said on Sunday had now been claimed, was the largest Lotto win of the year, eclipsing the $23.5m won by a ticket bought in Quay St, Auckland, on January 18.
Company spokesperson Lucy Fullarton said they were thrilled for the winner and very pleased to have the prize safely claimed.
“We will have more [information] to share over the next couple of days,” she said.
Financial adviser Nick Crawford, author of Sudden Money and How to Handle It, said people coming into money could find themselves struggling to know what to do with it.
“In the short-term, with interest rates being so high currently, investing in a term deposit will allow them to catch their breath and figure out what their long-term goals and objectives are.
“Once the person is becoming more comfortable with their new financial situation, they can start to make changes.”
ASB’s term investment calculator suggests $10m invested for six months could earn an average income of about $32,000 per month with an interest rate of 5.65%.
George Heard/Waikato Times
Owners of the winning Powerball ticket have finally come forward, claiming a life-changing $33.5 million.
The winning numbers in the Powerball First Division were drawn on Wednesday, June 28, making it the ninth Powerball win of 2023.
Most big wins this year have gone to the North Island, with four in Auckland, one in Porirua and one in Hamilton.
But in March, a $15.5m jackpot went to a Canterbury winner, and an Invercargill player won $17.25m in April.
A payday of $33.5m will give the winners a lifetime of financial freedom – but possibly cause a few headaches over what to spend it on.
If they are feeling generous, they could buy 3.8 million McDonald’s Big Mac burgers at $8.80 a pop – one for every New Zealander living outside Auckland – or bail out Victoria University as it tries recoup a $33m deficit.
If they’re feeling a little more lavish, they could splash out on this Matakana mansion, with an estimated value of $5m, or buy 775 luxury Kawasaki jet skis for their friends.
TradeMe
This luxurious home on the market in Matakana has million-dollar views overlooking the Sandspit Marina.
Lotto NZ follows processes to guide new multi-millionaires after the life-changing sums are paid in full to their accounts, Fullarton said.
“For big wins like this one in Christchurch, our winners experience team gets in touch as soon as the winner claims their prize, so they have the support and guidance they need.
“We meet with them as soon as possible to talk through what they need to think about – including how to go about finding financial advice and the importance of setting priorities.
“We also put our big winners in touch with a private banker at their bank, who can help them manage the money in the immediate term.”
They are also given a book containing tips from past winners.
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