Lotto player wins $42m - is that too much money for one person?

Leah Panapa 21/10/2021

LISTEN: A lucky Pokeno Lotto player is $42 million richer after claiming one of New Zealand's biggest Lotto Powerball prizes.

But is that far too much money for one person to win?

Money Mentalist co-founder and coach Lynda Moore believes it is a lot of money for one person to handle but if the right level of support and advice were given to them they should be able to manage it.

"You can do an awful lot of good with $42 million and you can have a lot of fun as well," she told Magic Talk.

Moore says it's all about "getting the balance right" and depends on the type of person the winner is.

Money experts believe getting people familiar with money and the impacts it can have in both positive and negative ways should be taught at a young age.

Moore says people's money beliefs are "preprogrammed" before they're even born.

"Someone living in New Zealand is going to be born into a very different society with very different beliefs about money than, for example, a child who is born in Ethiopia," she explained.

"So even before we enter this world there are already some beliefs that are programmed in us from the environment and society we live in."

Moore says as we get older experiences start to change our views on money.

"We either reaffirm those money beliefs or some of them drop away and we replace them with new ones," she told Magic Talk.

She says people should be thinking consciously about money, especially with their partners and families.

Listen to the full interview with Lynda Moore above.

Magic Talk | Mornings with Leah Panapa, weekdays from 9am.

Missed an interview on Magic Talk? Subscribe to the Daily Dialogue now.