What if you don't win the Lottery?
(Spoiler: You’re Still in Control)
Who hasn’t imagined winning the lottery? The freedom, the fun, the “I’m never working again” moment. I’ve had that daydream more than once (and no, I’ve never had the winning ticket either). Sadly, the odds are laughably low. So instead of crossing our fingers and hoping for a miracle, what if we built a financial plan that made us feel like winners—without needing a windfall?
That’s what I call a lottery-proof financial plan. It’s not about luck. It’s about clarity, consistency, and making smart choices.
Step 1: What Does “Winning” Look Like for You?
First, let’s talk about what matters to you. Is it retiring early? Owning your home outright? Helping your kids through uni? Travelling more?
A lottery-proof plan starts with your version of success. Once you know what you’re aiming for, we can build a roadmap to get there—no jackpot required.
Step 2: Build Your Safety Net First
Lottery winners often burn through their winnings because they skip the boring-but-essential stuff. I’d suggest:
- Having and emergency fund: 3–6 months of living expenses, tucked away in a separate account.
- Insurance: Make sure you’re covered for the unforeseen.
- Debt: Pay down debt. It’s like giving yourself a raise.
These steps are the foundation.
Step 3: Automate Your Wealth Building
You don’t need millions—you need momentum. Set up automatic transfers to:
- Superannuation: Maximise contributions where you can.
- Investments: Shares, ETFs, managed funds—whatever suits your goals.
- Savings goals: For holidays, renovations or future plans.
Think of it as your personal wealth engine. It hums along in the background, quietly building your future.
Step 4: Focus on Assets That Grow
Lottery winners often splurge on things that lose value—cars, clothes, parties. A lottery-proof plan is about building long-term value:
- Property: Your home or an investment property can build equity.
- Shares or alternative investments: For those with a higher risk appetite, these can offer strong returns.
- Education: Investing in yourself or your family’s skills pays off in earning potential.
Step 5: Plan for Joy, Not Just Survival
Financial planning isn’t just about bills and budgets—it’s about living well. So include:
- Fun money: A set amount each month for guilt-free spending.
- Giving: Whether it’s charity or helping family, generosity feels good.
- Experiences: Travel, hobbies, time with loved ones—these are the real riches.
Step 6: Get Advice You Can Trust
Even lottery winners need guidance. A financial adviser (hello!) can help you to stay on track with your goals, avoid costly mistakes and adjust your plan as life changes.
Final Thoughts: You’re Already Winning
Building wealth slowly and steadily is more reliable—and often more satisfying—than hitting the jackpot. So next time someone asks, “What would you do if you won the lottery?” you can smile and say, “I’m already working on it.”
Michelle Sanchez ADFS(FP)
Representative (No 325471)
