Description
This article shares some good tips on how to manage a windfall. Everyone deals differently when this happens so this article provides seven options and recommends professional guidance.
Introduction
Lottery prize pools now amass huge amounts, regularly turning everyday Aussies into instant multi-millionaires. But being ‘struck rich’ is not only based on luck. There is more than $2.2 trillion worth of assets invested in superannuation in Australia.
A multi-million dollar inheritance can be a life-changer. Regardless of the source, most people who receive unexpected money are launched on an emotional roller coaster ride.
Let’s use a big lottery win as an example for this article:
1. The first emotion is usually sheer delight – Woohoo! Aren’t I lucky! (although if it’s a massive win, the first feeling might be utter shock!).
2. Relief generally follows quickly – I don’t have to worry about money anymore.
3. Then indecision – What should I do with it?
Regardless of how your windfall landed, here are some ideas to help you make the most of it.
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