Newspaper article The Observer (Gladstone, Australia)

What Would You Do If You Won $100K?

Newspaper article The Observer (Gladstone, Australia)

What Would You Do If You Won $100K?

Article excerpt

MOST Australians say if they won lotto or inherited $100,000 they would invest in term deposits, high interest accounts, property or take a holiday but only one in five would put the money towards superannuation.

BT Financial Group superannuation general manager Melinda Howes said it was understandable travel and holidays would be high on the list, but the reality is Australians may be disappointed when it comes time to retire.

"Actively contributing to super is one of the best ways Australians can take control of their financial futures and make sure their retirement is the one they deserve," Ms Howes said.

"Many people currently nearing retirement are under-funded - they don't have enough super to last their lifetime.

"Investing an inheritance in super in your 50s or 60s could be what makes the difference between a frugal and a comfortable standard of living in retirement."

The BT Australian Financial Health Index revealed the most popular investment following a windfall is term deposits and/or high interest accounts, with 40% of Australians saying this would be where they would place the money. …

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