MA: Financial Advice for Lottery Winners

Winning Powerball sounds great, but managing that new found wealth is just as important.

The $758 million Powerball jackpot was claimed on Thursday by 53-year-old Mavis Wanczyk of Chicopee.

Now that she has the jackpot, Chris Letendre, of Cape Retirement Wealth Advisors and host of Wealth Works on WATD, says she needs to find a financial advisor, specifically a fiduciary advisor.

While Wanczyk claimed her prize publicly Chris Letendre, a Retirement Planner with Cape Retirement Wealth Advisors and host of Wealth Works on WATD says it’s usually better to be anonymous.

And how does one go about claiming a lottery prize anonymously in Massachusetts?

Wanczyk chose to accept a lump sum payment of $480 million, or $336 million after taxes, something Letendre says he’d recommend.

Thursday’s drawing is the largest grand prize won by a single lottery ticket in U.S. history.

Mavis Wanczyk Powerball jackpot winner

 


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About Dan McCready

Dan McCready is a South Shore native who’s happy to be back working in his home region. After graduating from Catholic Memorial High School, GO KNIGHTS! Dan attended Suffolk University where he graduated Magna Cum Laude with a BA in Communications. After college Dan worked as a standup comic and actor appearing in several theatrical productions, independent films, and worked as a background extra in films and TV shows including Fever Pitch, Underdog, and Brotherhood while also working as a weekend overnight DJ on Easy 99.1. Eventually Dan began covering the Boston entertainment scene for Production Live Online and, after being bit by the journalism bug, decided to further his studies at Northeastern University, where he earned his master's degree. Since that time Dan has worked across many media platforms for organizations including the Patriot Ledger, Cape Cod Broadcasting, and 1420 WBSM in New Bedford. Dan is currently residing in Milton and enjoys hanging out with friends, candlepin bowling, playing video games, and making videos for his fledgling YouTube Channel.