Is your imagination up to it?

If you won $34 million in Lotto's Powerball jackpot tonight, could you spend it in a week?

The scenario has left many Dunedin residents rubbing their wallets or purses, looking for inspiration as their imaginations run wild at the possibilities.

Most of those quizzed in Dunedin yesterday said "no", but quickly added they would "give it a good go".

Lamborghini sports cars, jumbo jets, islands off the coast of Dubai, a monkey, high-rise apartment buildings, a personal concert with Mick Jagger, investment in research and development, and "roses for my wife" were just some of the things they said they would buy to get the ball rolling.

But to spend $34 million in a week would not be easy. So, what's on the market to tempt a new multi-millionaire?

What about your own vineyard? A Central Otago property is ripe for the picking with negotiations over $1.95 million.

There is also an uninhabited tropical island in Fiji, aptly named the romantic Honeymoon Island, complete with gold sand beach and swaying palm trees, available for $1.88 million.

Or you could buy a Wild West-themed township near National Park in the central North Island, complete with bank, blacksmith shop, saloon and bathhouse at a bargain price of $4.5 million.

One of Auckland's most expensive homes - 533sq m of luxury living, with five bedrooms, five bathrooms, temperature-controlled wine cellar, pool and sauna complex - is also for sale for just $7.5 million.

Even with all this real estate added to your personal portfolio, there would still be money in the bank for the latest 2011 Lamborghini Aventador (top speed 350kmh with a V-12 engine) at a mere $675,000; a six-carat princess-cut diamond set in platinum for $259,000; and even a corporate hospitality package to the Rugby World Cup semifinals and finals with category-A seats at Eden Park - a snip at $10,995.

If you invested all $34 million in a five-year term deposit with a New Zealand bank at the present interest rate of 6%, you would earn $2.04 million a year in interest.

NZ Lotteries chief executive Todd McLeay said adjusting to the unexpected arrival of a large amount of money could be tricky.

"Getting professional advice is essential in the early days of winning. For many of our winners, their emotions go on a rollercoaster and they can't believe what's happening ...

"We recommend seeking good financial and legal advice before making any life-changing decisions."


Winning tips
• Write your name on the back of the ticket.
• Have your ticket validated by calling NZ Lotteries on 0800 MYLOTTO.
• A NZ Lotteries representative will then advise how you can claim your prize in privacy and will offer both practical and emotional advice.
• Be careful with whom you share information about your win.
• Deposit your winnings into an interest-earning account.

 

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