Latest news with #financialwindfall
The Australian
6 days ago
- Business
- The Australian
Gold Coast Suns weigh future of lucrative Darwin deal amid finals push
The $1 million-per-game agreement to play two matches a season in Darwin is due to expire at the end of 2026 and although they are committed to seeing it out, what the partnership looks like beyond next year is still up for discussion. The club could ask to lower the number of games per season or withdraw entirely as it sets sights on prioritising contending for premierships and playing more games in front of fans on the Gold Coast. Although the Suns receive a not-insignificant financial windfall to shift two of their home games from the Glitter Strip to the Top End each year, they believe it comes with a competitive disadvantage cost in the form of additional travel. That cost is particularly felt late in the season, where they traditionally fade out of finals contention. On face value the annual pilgrimage to Darwin looks like a slam dunk competitive advantage for the Suns, given they are eight wins and zero losses since striking the deal ahead of the 2022 season. But Gold Coast believes it would just as likely win those games at People First Stadium, which for a two-month stretch of this season sat empty while Damien Hardwick's side travelled the width and breadth of the country. The $1 million per game payment is also not a net gain for the Suns. A portion of that money goes back into hosting the matches at TIO Stadium and all associated costs. If those two home games in Darwin were instead replaced by blockbuster fixtures against high-drawing opposition such as Collingwood, Carlton, Essendon or Hawthorn at People First Stadium, the Suns could recoup some – though not all – of the money lost by not playing in the Top End. For the Suns, who are staring down a potential top four berth and knocking on the premiership window, striking the on-field and off-field balance is now more crucial than ever. Last year, CEO Mark Evans presented a long list of checks and balances to the AFL in the midst of its competitive balance review, highlighting what the Suns felt were comprehensive disadvantages that they and the likes of GWS faced in comparison to more established clubs. Evans' 'Summary of Advantage and Disadvantage' featured 14 key metrics and 13 of those, by his rule, the Suns were on the wrong end of. Only their Northern Academy got his tick of approval. Chief among those disadvantages was travel. By season's end the heavyweight Victorian clubs will have enjoyed 16-plus rounds of football within their home states while at the same time, the Suns are running on fumes after travelling every second week. A small portion of West Coast and Fremantle's travel burden was alleviated this year with North Melbourne taking two home games to Western Australia in rounds 13 and 14, while Adelaide and Port Adelaide ostensibly gained an extra home game each season due to Gather Round. But the clubs in Queensland and New South Wales do not have similar mechanisms to minimise their travel and in the case of the Suns, theirs is exacerbated by being further from Victoria and the annual trip to Darwin. By distance covered, the West Australian clubs comfortably clear the rest of the competition each season. But for time spent in the air, West Coast and Fremantle's chartered flights to Melbourne are roughly 3.5 hours compared to the 2.5 hours from Gold Coast to Melbourne. To that end, the Suns still feel more can be done limit their time in the sky across the season. Evans has previously asked the AFL to consider not fixturing the Suns to play in Perth, while their deal with Darwin is in place, however that request was knocked back. Another alternative, which Evans posited on Tuesday, was for Darwin to host an 'AFL Round' in a similar vein to Gather Round. That, he said, would keep football in the Top End while allowing Gold Coast to retain its home games at a time the Suns want to cash in on their strong form. When the Gold Coast board met in June, People First Stadium had hosted just three home games to that point in the season and the question was asked: what are we doing? With big brother Brisbane boosting its membership base by another 10 per cent off the back of a successful premiership campaign, the Suns are waging a war for new fans within Queensland and taking home games out of the state does not help. With the Lions' rapid growth soon to be handicapped by their outdated Gabba home, which will not be replaced until 2032, and NRL rival the Gold Coast Titans' on-field struggles, the time is now for the Suns to go all-in on growing their local supporter base. AFL In February, Brad Green fiercely defended Simon Goodwin. In August, he told Goodwin he was done. So what changed from the summer of love? Jay Clark goes inside the Dees' dysfunction. AFL Travis Boak could have jumped ship and won a flag with Geelong, but instead showed loyalty to Port Adelaide when they were in dire straits - and the Power will forever be in debt.
Yahoo
13-07-2025
- Automotive
- Yahoo
I'm 26 and recently came into $50K. I've got a $27K car loan — should I pay that off or invest all the money?
A financial windfall in your 20s presents both a challenge and a powerful opportunity to build wealth early. Let's say you're 26, with no credit card debt, a $27,000 car loan at 8% interest, and minimal monthly expenses beyond rent and insurance. After taxes, you have $36,000 left over from the windfall to do what you want with. The decisions you make now could shape your financial future. So, what should you do with the money? I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Since you have $27,000 in car loan debt, paying off your $27,000 car loan might feel like the most obvious choice to make — especially since you have a fairly high interest rate at 8%. It makes good financial sense. Eliminating the debt would earn you an immediate 8% return on your money with zero risk. That's especially appealing since auto loan interest isn't tax-deductible. Let's say that you originally borrowed $32,000 on your car at 8% using a 48-month loan, and you have 40 months left to pay with a balance of $27,348.42. If you paid off your full balance next month, you'd save around $3,899.01 in interest. Getting the definite 8% ROI from avoiding auto loan interest is likely worthwhile. You could then redirect your former monthly car payment into savings or investments. Given how high the interest rate is on the auto loan, paying off the car loan might be the best decision, but you could choose to keep making payments on your vehicle and instead invest all $36,000 of the windfall. Alternatively, you could pay off the car loan, and then invest the remaining $8,651. Either way, putting at least part of the windfall into the market can help your money grow. Although the stock market isn't risk-free, you can generally expect around a 10% average annual return over the long term by investing in an S&P 500 index fund. Read more: Americans are 'revenge saving' to survive — but millions only get a measly 1% on their savings. Whether you choose to pay off the car or invest part of the money, there are other important financial considerations, too. For example: Retirement contributions: If you haven't maxed out your 401(k) or IRA for the year, consider using the windfall to boost your long-term savings. Emergency fund: Having three to six months of living expenses in a dedicated fund can protect you in case of a job loss or unexpected expense. Short-term savings goals: If you're planning to buy a home or make another big purchase in the near future, you may want to keep some of the money in a high-yield savings account.* It may also be worth speaking with a financial advisor to create a personalized strategy, especially when dealing with a large sum of money at a young age. With the right approach, a $50,000 windfall could be more than just a lucky break — it could be the foundation for a stronger financial future. This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Here are the 6 levels of wealth for retirement-age Americans — are you near the top or bottom of the pyramid? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Money doesn't have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
10-07-2025
- Business
- Forbes
The Playbook For Financial Gains: Plan Like The Pros
Scott Underwood, Founder and CEO, Socium Advisors. Whether from a multimillion-dollar sports contract, an unexpected inheritance or a lottery jackpot, an unforeseen accumulation of wealth presents both incredible opportunities and significant challenges. From anxiety surrounding money management to the changes in relationships when friends and family learn of the newfound wealth, people can feel pressured into making uninformed, rushed decisions. Hearing from our clients, we know that Americans, in general, admit to overspending. According to NerdWallet, 83% of Americans admit to overspending, and 84% of those who follow a budget report exceeding it. This pattern of overspending becomes even more problematic when combined with heightened anxiety, which can impair decision-making, either by causing delays or prompting impulsive choices. When emotional stress intersects with poor spending habits, even a financial windfall can quickly vanish, leaving individuals in a difficult financial situation despite their temporary gains. Without a solid plan, emotional decision-making, overspending and poor investments can quickly erode even the most substantial gains. The First Move: Pause And Assess One of the biggest mistakes people make after receiving significant financial windfalls is acting too quickly. The urge to upgrade homes, cars and lifestyles, or to help family and friends, can be overwhelming. But before making any major financial decisions, the smartest move is to take a step back. Take the breathing room needed to evaluate the next steps. It's crucial to understand the tax implications of this new wealth—whether it's income tax on a signing bonus, estate tax on an inheritance or capital gains tax on investments. Miscalculating tax obligations can create significant financial headaches down the line. Building A Winning Team Trying to manage a large sum of money alone is a risky strategy. Even those who are financially savvy benefit from surrounding themselves with a team of professionals who can offer expertise and long-term perspective. A strong financial team typically includes a financial advisor to create a comprehensive plan, a tax expert to navigate obligations and opportunities and a legal advisor to protect assets and ensure proper estate planning. Professional athletes, for example, often earn the bulk of their lifetime income in a short window of time. Without careful management, that wealth can evaporate quickly. Individuals can create a financial strategy that extends beyond their peak earning years by working with advisors who understand the unique challenges of high earners. From Gain To Long-Term Wealth: Creating A Plan Thinking long-term is the key to turning a sudden influx of money into lasting financial security. That starts with defining clear financial goals. For some, that may mean paying off debt and securing an emergency fund. For others, it may involve building a diversified investment portfolio, purchasing real estate or setting up charitable foundations. A thoughtful financial plan isn't just about protecting wealth—it's about making it grow. Diversifying investments across asset classes can help mitigate risk while ensuring long-term financial health. Establishing estate plans, such as trusts and wills, protects wealth for future generations and minimizes legal complications. Avoiding Common Pitfalls The stories of professional athletes, celebrities and lottery winners who lost their fortunes are cautionary tales that underscore the importance of financial discipline. Overspending is one of the most common mistakes; lifestyle inflation can make even the most significant financial gains disappear surprisingly fast. It's easy to assume that there will always be more money, but a high-income lifestyle can become unsustainable without a structured plan. Poor investment choices are another significant risk. When large sums of money become public knowledge, so do unsolicited business opportunities, investment pitches and 'can't-miss' deals. Some may be legitimate, but many are not. These opportunities can become costly mistakes without proper due diligence and professional oversight. Ignoring taxes can also have devastating financial consequences. Many people assume that a significant sum of money is theirs to spend in full, only to be caught off guard when tax bills come due. Failing to plan for these obligations can lead to unexpected financial stress, or worse, legal trouble. A Case Study In Smart Wealth Management The president of our sports and entertainment division, Justin Boeving, sees this far too often. Time and time again, we see cases like that of a professional athlete who received a significant signing bonus early in his career. Like many in his position, he initially felt the urge to make big purchases and enjoy his success. But with careful planning, he took a different path. When we work with clients, we emphasize the importance of allocating a portion of wealth toward long-term investments, building a real estate portfolio that provides passive income and even establishing philanthropic foundations to give back to the community. We find that when we collaborate with athletes, years later, they have not only maintained their wealth but also grown it significantly. His story is a testament to the power of disciplined financial planning—proof that with the right strategy, a financial windfall can transform into a lasting legacy. The Bottom Line: Wealth Is A Long Game Coming into a large sum of money can be life-changing, but without the right strategy it can also be fleeting. The difference between those who sustain wealth and those who lose it often comes down to preparation, discipline and expert guidance. Taking a measured approach, assembling the right team and committing to a long-term vision, financial success doesn't have to be temporary—it can be the foundation for a lifetime of security and opportunity. If you or someone you know is navigating a significant financial opportunity, smart decisions today can lead to financial freedom tomorrow. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
Yahoo
31-05-2025
- Business
- Yahoo
Woman Gets Unexpected Payout. Then Rent-Free Boyfriend Calls Her ‘Selfish' for Not Buying Him a New Car
A woman recently came into some money, and now her boyfriend expects her to spend it on him He insisted that she should buy him a new car, despite her car being on it's last leg Now, the boyfriend is sulking around the house and guilt-tripping herA woman is turning to Reddit for advice after getting into a heated disagreement with her boyfriend over her recent financial windfall. In the post, she details the strain that money and expectations have put on their relationship, questioning if she was in the wrong "for not buying [her] boyfriend a new car and getting mad at him for asking." 'So I recently came into some money. Not lottery-level but enough that I can finally afford to take care of a few big things like getting a decent car and paying off some debt,' she explains, noting that her current car is barely running, while her boyfriend's, though old, is in much better shape. The couple's finances have always been lopsided, as her boyfriend is currently unemployed and has been living with her rent-free for some time. 'I cover food, bills, and everything else. I've been okay with that because I make enough and I do care about him,' she admits. However, everything changed when her boyfriend learned about her new financial situation. 'As soon as he found out I came into money his first reaction was that we should upgrade our cars. Not just mine. Ours. As in he wants a new car too,' she writes. When she told him she planned to replace her own car first, he got upset and accused her of not being generous. 'He got kind of sulky. Said I 'never think of us as a team' and that I 'wasn't being generous,'' she shares. Her boyfriend's tantrum didn't stop there. Since their conversation, he's been making passive-aggressive comments, such as that it 'must be nice to have money and only think about yourself." His attitude is especially shocking given that she was willing to get him a new car in the future. 'For the record, I never said I wouldn't help him with things down the line. But right now I need a car that won't fall apart on the motorway,' she clarifies. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. 'It's making me question things and I honestly don't know if I'm overreacting by being annoyed,' she confesses. She wonders if she's being selfish or if her boyfriend's sense of entitlement is a red flag. The Reddit community was quick to weigh in, with one commenter bluntly remarking, 'he lives with you rent free AND wants you to buy him a car?? That's not your boyfriend, that's your son.' This sentiment seemed to resonate with the poster, who replied, 'The more I think about it the more I'm like… 'why am I the one feeling guilty here?' I didn't realize basic boundaries were such a high bar.' Read the original article on People
