READER REPORT:

If I won Lotto: Here's my windfall plan

ROBERT YOUNG
Last updated 05:00 18/01/2013

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Once the hangover cleared, the following process would be implemented:

1. 95 per cent of the cash would be placed on a six-month term deposit.

2. 5 per cent of the cash would be available for prioritised and discretionary self-indulgence (home improvement, vehicle upgrade, debt discharge, family assistance, charitable giving, travel, etc).

3. The following six months would be spent gathering advice from a planner, accountant and solicitor.

4. A trust would be established to protect and distribute.

5. A written plan would be created outlining the investment objectives factoring in the age of the beneficiaries, income requirement, risk tolerance, influencing factors.

6. A diversified portfolio of equities, bonds and property would be constructed.

7. The old adage would be kept in mind: "You make a living by what you get... you make a life by what you give". 


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