
It’s more rare than being struck twice by lightning, but it’s happened to you. Winning the lottery (or coming into sudden significant wealth) in Australia is the stuff of dreams. Yet, without the right financial planning, it can quickly become a nightmare. Unexpected taxes, an inability to manage such large sums, and even opportunists taking advantage are all red flags.
As trusted Melbourne financial planners, ActOn Wealth brings an exceptional level of knowledge, expertise, and down-to-earth sensibility that is crucial in such overwhelming, exciting circumstances. It’s important to have fun and live your dreams, but at some point, it will be crucial to shift gears and implement growth and protection strategies.
You’ll likely be pinching yourself for months, and rightly so. What has happened to you is so incredible, so remarkable, that you deserve plenty of celebrating and splurging. But as your lottery financial advisor, we want your windfall to last well into the future. We don’t want it to be squandered and for you to become a statistic.
So, if you’ve just had the financial flush of a lifetime, we recommend taking the following steps:
Our financial advisor for lottery winners service includes:
ActOn Wealth is a boutique financial firm in Melbourne that is not aligned with any third parties or institutions. This means our advice is based on what our financial advisors deem best for each client. We will curate the ultimate team to support you and your specific goals.
Whether you’ve come into wealth through a win or any other means, contact our financial advisers today for a no-cost, no-obligation meeting. We can connect with you in person if you’re from Melbourne or arrange a video conference anywhere else in Australia.
No, you do not need to declare your lottery windfall in your Australian tax return. However, any income you make from the win must be declared. For this reason, we strongly recommend you seek advice from professional financial advisers such as ActOn Wealth.