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In the midst of the uncertainty and panic surrounding the global health crisis that is COVID-19, the financial market is similarly volatile.

" ["fulltext"]=> string(2760) "

Managing director of Trilogy Funds Philip Ryan joins host David Stratford on this episode of The nestegg Podcast to discuss how hysteria affects the market, the implications of declining interest rates, and the types of assets that are considered safer investments.

Philip reflects on the potential for finding investment value even in unpredictable times, the ongoing importance of portfolio diversification, and how panicking investors should respond to current headlines.

Thanks Philip, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Trilogy Funds are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

Trilogy has issued a Product Disclosure Statement for each of the managed investment schemes mentioned within this podcast. The PDSs are available at www.trilogyfunds.com.au or by contacting us. You should obtain a copy of the relevant PDS, understand the risks, and seek personal advice from a licensed Financial Adviser before investing. Investment in the Trust is subject to terms and conditions, and risks which are disclosed in the PDS. These risks include the risk of losing income or principal invested. Applications will only be accepted on the current application form that accompanies the PDS. These managed investment schemes are not a bank deposits and Trilogy does not guarantee their performance. Trilogy provides only general financial product advice on its own products and does not consider your objectives, financial situation, or needs in providing such advice. Past performance is not a reliable indicator of future performance.

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Thursday, 09 April 2020

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Financial planner reveals what lotto winners should do with $50m

By Cameron Micallef · September 20 2019

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Financial planner reveals what lotto winners should do with $50m

By Cameron Micallef
September 20 2019

Reading:

Financial planner reveals what lotto winners should do with $50m

By Cameron Micallef · September 20 2019

Reading:

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.”

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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