Would it be worth it to get a financial advisor for winnings under 2m?

Can I ask why you wouldn't tell them you won the lotto? What are you worried about?

Lol no "logic" to it, just call it my irrational paranoia. I guess my thinking is that finance professionals deal with people who receive windfalls via inheritance all the time. So me telling them I got $2mil from a rich uncle after he passed would probably elicit a shrug from them. And as soon as I'm out their office door, they'd probably just forget me asap, as one of their money appointments dealing with inheritance advice.

But my silly, over-imaginative brain tells me that by telling the financial advisor that I won lotto, I'd somehow "stick out" in their brain and they might blab about me to co-workers, and eventually word would somehow leak that I'm a lotto winner.

I know, I know, illogical, nonsensical and silly. But that's my goofy logic. Part of the reason I love being in Aus is that our winnings are 100% anonymous and tax-free.

how much money would you need to win in order for you to consider moving to a tax haven on the other side of the world (like Panama) even if it means moving away from family/friends?

Short answer: Probably no amount would make me move. Well, not permanently, and def not someplace as means to evade taxes or hide wealth.

I love living in Aus and our quality of life. And, as controversial as this may sound: us paying taxes is part of what makes it so great. I'm happy to do my part.

It's also great that lotto winnings are already paid out tax-free. So any winnings has me starting out ahead right away.

So when I win my windfall, I'd be happy to pay whatever annual taxes-on-interest I owe. And if I won one of the bonkers $50mil+ jackpots, me staying local (and anonymous) wouldn't be something I'd think twice about. Sure, I'd travel the world (first class, naturally) on various dream holidays, but I'd always return here (well, maybe not to Syd lol; but def someplace downunder).

/r/Lottery Thread Parent