A $1.5 Trillion Opportunity: How to Turn Inheritance into a Better Life

Over the next two decades, Australians will inherit unprecedented amounts of wealth as older generations pass on their assets.

The Productivity Commission estimates $1.5 trillion changed hands between 2002 and 2021, and that figure is only set to grow.

While it can be tempting to make quick financial moves, rushing risks turning a once-in-a-lifetime opportunity into a missed one.

An inheritance can be life-changing, but only if it is handled with a clear head and a plan that reflects your values.

Senior Wealth Adviser Dawn Thomas from The Wealth Designers, recently featured in The Sydney Morning Herald, says the best first step is often to do nothing.

“Sometimes people feel they have to make a decision really quickly when they receive an inheritance, but it is OK for funds to stay in a high-interest account for 12 months to two years while you make up your mind,” she said.

She encourages people to use this time to clarify their goals, whether that is paying off debts, investing for the future, or supporting family. She also notes that receiving a lump sum does not automatically change poor money habits, making self-awareness and strategic advice essential.

It is an approach that reflects our belief in what we call Return on Life, using your wealth to create a better life now and in the future for you and those you love.

If you are expecting or have received an inheritance, our advisers can help you turn it into a lasting opportunity to Live Well. Book a chat