Save
Financial planner reveals what lotto winners should do with $50m
The three lucky recipients of last night’s $150 million jackpot have been warned to do very little with their money until they can take the emotion out of last night’s result.
Financial planner reveals what lotto winners should do with $50m
The three lucky recipients of last night’s $150 million jackpot have been warned to do very little with their money until they can take the emotion out of last night’s result.
Speaking to nestegg, financial planner Adele Martin has explained that winners of such large windfalls need to get themselves a good team around them that includes accountants, lawyers, financial advisers and, potentially, life coaches.
“If you’ve suddenly have this wealth and you haven’t created it along the way, you might not necessarily have the skills,” Ms Martin said.
And while the rest of us only dream of what we could do with such a large amount of money, she advised that despite not being the most interesting way to spend $50 million, recipients could simply put money into a bank account and live off the interest.
“You don’t necessarily have to go and invest it. When you win the lotto often, it can be about protecting the capital,” the financial planner argued.
As a word of caution, Ms Martin cited a US statistic that around a third of lottery winners end up in a worse financial position after winning the lotto than they were in previously.
Plan and set targets
Ms Martin said planning and setting targets would ensure last night’s winners protect the capital they have luckily won.
To ensure the capital remains, Ms Martin advised setting a target “for how much you can give each year or put away”.
And while an immediate resignation is what many people dream of, the financial planner also advised winners to continue on with daily life, until they have set up their plans.
For her clients who have suddenly found themselves responsible for large windfalls, she advises: “Don’t rush in, don’t make any big decisions straight away.
“Take your time, still turn up to work and keep everything normal and really think about this before rush[ing] into doing anything.”
What should winners do with the money?
Despite three winners last night, Ms Martin explains if one person had won the money, they would likely be eligible for $3 million in interest a year just by banking the money, meaning they do not need to invest the money.
She said that “this is where lotto winners get in so much trouble”.
“They go out and they do these development or start these businesses and they split it to all these investments thinking it’s what they have to do and they don’t.
“If you won the $150 million and you could get 2 per cent a year from it, you’d get $3 million a year from it in interest before tax.”
The financial planner concluded: “They should have a proportion to play with and have a large majority of capital protected because you could just live off the interest.”
RELATED ARTICLES
About the author
About the author
How to budget
Australia’s first-home buyer reset: how policy, rates and competition will shape the rebound
After a flat first half of 2025, first-home buyer (FHB) activity is set to lift—nudged by a five per cent deposit guarantee and the Reserve Bank’s first rate cut since 2020. But a rebound won’t be ...Read more
How to budget
Australians Seek Bargains to Stretch Christmas Budgets Amid Rising Costs
As the festive season approaches, Australians are preparing to spend more on Christmas gifts and festive feasts compared to previous years. However, despite larger budgets, many are still on the hunt ...Read more
How to budget
Australians grapple with stubborn cost of living in 2025
In a year marked by persistent financial strain, only a meagre 7% of Australians believe that the cost of living has improved, according to the 2025 Household Budget Barometer released by Compare the ...Read more
How to budget
How to take control amid rising electricity costs
Energy bills are increasing for almost nine in ten Australians, forcing many to think outside the box when it comes to keeping costs and electricity usage down. While some are resorting to showering ...Read more
How to budget
Aussies get savvy with energy hacks as costs surge
As energy costs continue to climb across Australia, a recent study commissioned by Zip Co (ASX: ZIP) reveals that 91% of Australians are actively seeking innovative ways to reduce their energy billsRead more
How to budget
The psychology behind saving: Understanding and overcoming common barriers
Saving money is a fundamental aspect of financial security, yet many people find it difficult to set aside a portion of their income regularly. Read more
How to budget
Smart saving tips for first home buyers in Australia
Purchasing your first home is a significant milestone, but the path to homeownership in Australia can seem daunting due to the high property prices and competitive market. However, with the right ...Read more
How to budget
Crafting your safety net: Building an emergency fund in Australia
In uncertain times, having an emergency fund is more than a financial buffer—it's peace of mind. For Australians looking to start their journey towards financial security, building an emergency fund ...Read more
How to budget
Australia’s first-home buyer reset: how policy, rates and competition will shape the rebound
After a flat first half of 2025, first-home buyer (FHB) activity is set to lift—nudged by a five per cent deposit guarantee and the Reserve Bank’s first rate cut since 2020. But a rebound won’t be ...Read more
How to budget
Australians Seek Bargains to Stretch Christmas Budgets Amid Rising Costs
As the festive season approaches, Australians are preparing to spend more on Christmas gifts and festive feasts compared to previous years. However, despite larger budgets, many are still on the hunt ...Read more
How to budget
Australians grapple with stubborn cost of living in 2025
In a year marked by persistent financial strain, only a meagre 7% of Australians believe that the cost of living has improved, according to the 2025 Household Budget Barometer released by Compare the ...Read more
How to budget
How to take control amid rising electricity costs
Energy bills are increasing for almost nine in ten Australians, forcing many to think outside the box when it comes to keeping costs and electricity usage down. While some are resorting to showering ...Read more
How to budget
Aussies get savvy with energy hacks as costs surge
As energy costs continue to climb across Australia, a recent study commissioned by Zip Co (ASX: ZIP) reveals that 91% of Australians are actively seeking innovative ways to reduce their energy billsRead more
How to budget
The psychology behind saving: Understanding and overcoming common barriers
Saving money is a fundamental aspect of financial security, yet many people find it difficult to set aside a portion of their income regularly. Read more
How to budget
Smart saving tips for first home buyers in Australia
Purchasing your first home is a significant milestone, but the path to homeownership in Australia can seem daunting due to the high property prices and competitive market. However, with the right ...Read more
How to budget
Crafting your safety net: Building an emergency fund in Australia
In uncertain times, having an emergency fund is more than a financial buffer—it's peace of mind. For Australians looking to start their journey towards financial security, building an emergency fund ...Read more
More articles
OUR PLATFORMS AND BRANDS
EVENTS AND SUMMITS
- ACE25 The Accounting Conference and Exhibition
- Australian Accounting Awards
- Australian AI Awards
- Australian Aviation Awards
- Australian Aviation Summit
- Australian Broking Awards
- Australian Cyber Awards
- Australian Cyber Summit
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Law Forum
- Australian Space Awards
- Australian Space Summit
- Better Business Awards
- Better Business Summit
- Broker Innovation Awards
- Broker Innovation Summit
- Budget Summit
- Corporate Counsel Summit
- Defence & National Security Workforce Awards
- Lawyers Weekly 30 Under 30 Awards
- Commerical Finance Awards
- New Broker Academy
- Partner of the Year Awards
- Partner Summit
- REB Awards
- Rising Star Awards
- SME Bootcamp
- Women in Finance Awards
- Women in Finance Summit
- Women in Law Awards
- Women in Law Forum
PODCASTS
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
STAY CONNECTED
Make your nest egg grow. Register now for nestegg updates.