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
The Money Show’s Bruce Whitfield played a clip from his colleague Xolani Gwala, who interviewed the deputy minister.
The recent closure of two illegal online marketplaces selling contraband has put the dark web back in the spotlight.
The Money Show’s Bruce Whitfield interviews Ratcliffe for his weekly “ShapeShifter” feature.
The Money Show’s Bruce Whitfield interviews Otto, a man who has learned a thing or five these last few weeks.
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…
Consulting forensic scientist David Klatzow gives a detailed break down of the sim swap scam where criminals are hijacking phones.
They've been concerns around the safety of rugby fans attending rugby matches at Newlands Stadium.
About 22 households out of 700 have been refusing to pay rent for 12 months at the Steenvilla social housing development.
Sumitra Nydoo (on The Money Show) interviews KFC franchisee Kuben Naidoo.
My Broadband's Jan Vermeulen explains that as fast as the service providers block the numbers, new ones crop up.