Our financial advisory is experienced and specializes in working with lottery winners.
Whether it's from winning the lottery or receiving a notable inheritance, we can help you balance your priorities, discreetly.
Book a confidential conversationTop 5 suggestions as you begin to think through everything .
Our advisory will provide you with a highly personalized strategy to ensure your money remains a generational legacy.
Take your time, work through the emotions.
Wait until you're comfortable; don't be pressured.
Consider a short-term, safe investment.
Work on a list of needs and future goals.
Create a long-term plan with a experienced advisor.
No pressure, no rush.
Contact us for a confidential consultation.It can be overwhelming, don't rush anything.
Coming into a significant amount of money changes things quickly, and most people need time to adjust before they can think clearly about it. There is no benefit to making permanent decisions in the first few weeks.
Holding off on major purchases and commitments costs you very little. Parking the money somewhere safe and liquid, such as Treasury bills or GICs, keeps your capital intact while you get your footing and assemble the right people around you.
Expect solicitations. Family, friends, and charities may all reach out, sometimes with genuine need and sometimes not. Having an advisor and a plan in place gives you a considered answer instead of an immediate one.
Start simple, make a list.
Before anything else, write things down. Which debts would you like cleared? What purchases have you been putting off? Who in your family would you like to help, and how much would that take?
Add the causes you care about and the goals that sit further out. A written list of needs, wants, and future goals turns an overwhelming amount into a set of decisions we can plan around together.
Consider the taxes.
- Income tax should be built into your planning from the very beginning.
- Lottery winnings and inheritances are generally tax-free in Canada, though there are exceptions.
- A lump sum and an annuity are treated differently, so the choice deserves careful thought.
- Investment income earned on your new capital is taxable, and how it is earned matters.
- For education savings, an RESP and a non-registered account carry very different tax outcomes.
“It's not about beating the market, it's about protecting and preserving your wealth so it's positioned to last for generations.”
Contact the financial advisor that's right for you.