Financial guidance advised for winners
IF you won Lotto’s mammoth Powerball jackpot of $32 million, an investment expert would warn against putting all your eggs in one basket.
If claimed tonight by a single player, it will be the thirdlargest in Lotto history.
The first tip Matt Henry, head of wealth management research at Forsyth Barr, would give a Lotto winner was simply to get advice.
‘‘It’s pretty cliche that people who come into money end up broke, so getting advice from qualified people is the first step,’’ he said.
‘‘You can get some ideas thrown at you that sound pretty exciting and promising but often those sort of getrichtype schemes come with elevated risks.
‘‘What you’re looking for is a
prudent, sensible, diversified portfolio that’s going to stand you in good stead over a long period of time.’’
About 1 million tickets were sold for Wednesday’s draw but Lotto expects about 1.5 million to be sold ahead of today’s Powerball jackpot.
A $1 million Strike Must Be Won draw will also be running tonight.
At present sitting at $32 million, the jackpot could extend to as much as $50 million — and be on offer around the same time as the Rugby World Cup final.
All Powerball winners were invited to visit Lotto NZ’s Auckland office to claim their prize, spokeswoman Kristen Robinson said.
There, winners were given advice from Lotto NZ about adjusting to life as a Powerball winner.
They would receive a copy of Lotto NZ’s winner’s book, filled with things to think about over the coming months.
When it came to investing money, putting it in the bank was a safe option but did not offer much of a return nowadays, Mr Henry said.
Seeking advice from an investment expert would be ensure winners were getting the best financial help possible.
This year, 31 Kiwis became overnight millionaires after winning with Lotto’s games, including 12 who have won big with Powerball.
In order of frequency, the luckiest number Lotto numbers have been 1, 7, 19, 22, 18 and 13.