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.
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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