The winner of the R72 million Powerball jackpot – the first millionaire Ithuba has made in 2023 – has come forward to claim her prize.
The 28-year-old call center agent from Pretoria is one of the SA Lottery’s youngest millionaires and he is already considering retirement.
Here’s a plan for your newfound financial freedom.
Powerball jackpot winner
Spending R72 million
Although the lucky Powerball jackpot winner definitely wants to pursue a career in law, he says his top priority is upgrading his family’s lifestyle.
“I will definitely buy a car that suits my new life better, and I will buy a house for me and my family,” he said.
The 28-year-old said she now wants to live a “good lifestyle”, which includes traveling to France and other European counties with her family.
The winner, who grew up in Limpopo, has two brothers and is married. He now wants his family to enjoy “the best soft life”.
Lotto spam almost spelled disaster
The winner, who for obvious reasons preferred to remain anonymous, said he was in disbelief when Ithuba’s agent called him to process his winnings.
At first, he thought the phone call was a scam because he “couldn’t believe someone had won millions”.
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“He was always anonymous and his identity was hidden when he took the photo with the cheque”, he added.
However, winning the R72 million jackpot convinced him that it is possible to change people’s lives in the blink of an eye, adding: “This morning I woke up a millionaire”.
How to live as a millionaire
Win the lotto – especially the R72 million jackpot! – is a major psychological shock and many new millionaires are struggling to adjust to this new identity and lifestyle upgrade.
In this case, Ithuba provides counseling for all jackpot winnings above R250 000, and so that the transition period from wage earners to rich people is as smooth as possible.
Many jackpot winners also instinctively withdraw from perceived dead-end jobs – not necessarily a bad idea, they do, after all, have other means to pay their bills.
Keep up the day’s work!
However, experts recommend making some changes in your life, at least for the first six months.
This includes keeping the family dynamic and even staying at your current workplace (if you can afford it).
We are a strange species, and work gives us purpose, even if it is not obvious.
A study conducted among winners in America shows that those who keep their jobs do better than those who make drastic changes.
Don’t believe in yourself
Elizabeth Glascow, a partner at McDermott Will & Saben who works with high net worth clients, said lottery winners must decide “what they believe in themselves”.
Bad (a and deeply engrained money habits) can throw a spanner at work, and you can end up losing a chunk of your winnings.
When deciding how to invest or spend money, you must decide “whether you trust to manage your affairs at that level”.