A regular The Money Show listener sent the following question to Bruce Whitfield:
- "We are inheriting approximately R1.3 million and want to know what is the best to do with it. We were thinking of settling our bond and short term debt and investing the rest of the money. We should be left with about R600 000 to invest..."
Whitfield solicited help from Galileo Capital Financial Advisor Warren Ingram in answering the question.
Scroll down for quotes from the audio below.
Time and time again; people who win the lottery are worse off.— Warren Ingram, Galileo Capital Financial Advisor
Short-term debt is the first thing you want to address.— Warren Ingram, Galileo Capital Financial Advisor
If your interest rate is 10% or more – do nothing else than pay it off.— Warren Ingram, Galileo Capital Financial Advisor
Set aside money in an emergency fund. You need three to six months’ expenses.— Warren Ingram, Galileo Capital Financial Advisor
Give yourself a short-term reward for planning for the long-term.— Warren Ingram, Galileo Capital Financial Advisor
If you put it away for a long time it really needs to be in shares.— Warren Ingram, Galileo Capital Financial Advisor
If you don’t know what you’re doing, put it in an index or a unit trust.— Warren Ingram, Galileo Capital Financial Advisor
As a small business owner, nobody expects you to be perfect. Because you cannot see them, blind spots could be a real nuisance.
With the political climate as volatile and rife, the US might not be the best country to keep your overseas capital.
Find out how the cryptic currency managed to gain so much momentum so relatively fast and kick yourself for missing out.
The iPhone, Ebay and Facebook, we all know these killer applications but what about their very similar predecessors that flopped.
Do you have a chunk of money, but you’re unsure where to put it? How should you invest, say, R50 000?
Have some spare cash to save and invest, but not sure how? Galileo Capital Financial Advisor Warren Ingram presents your options…
The Open Line took an unexpected turn when a caller in an interracial relationship shared how her father rejected her partner.
Interested in sexting but worried about the risks? Dr Eve has created a guideline to help you 'sext' in a fun and responsible way.
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.
Makhabane says Ncwane was feeling weak yesterday and his wife phoned paramedics to check on him.
The EFF lawyer stole the show during the state capture report court battle.
Michiel le Roux speaks about the fascinating story behind the little bank that has the Big 4 shaking in their boots.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?