What should you do if you win Lotto?
With the Powerball jackpot reaching $40 million, financial experts are offering advice on how to manage a sudden windfall. Recommendations include maintaining privacy, clearing debt, and seeking professional financial planning.
Why it matters
Sudden wealth can lead to poor decision-making; expert guidance helps winners preserve their capital and improve their long-term financial health.
Powerball has jackpotted to $40 million, but what should you do if you win the big prize?
Although the chance of winning is small - about one in 38 million per line, many people will be buying tickets in the hope of being one who beats the odds.
RNZ collected some expert advice on what you should do if you strike it lucky.
It may be wise to keep your excitement under wraps.
Lotto New Zealand advises: "Be careful who you tell…you can't un-tell them." It says most winners only tell their immediate families.
If you win playing online, you'll be given a prize claim form, so it wouldn't be hard to submit your win without being detected.
If you have a physical ticket, you can go into a shop to claim, or to Lotto NZ head office if you don't want to be spotted.
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