Received an Inheritance
Mary is 50 years old and works part time as a teacher. Her father has just passed away leaving her a sizeable inheritance.
Mary's husband passed away a few years ago but he only had a small insurance policy - just enough to pay off the remaining mortgage - so at least she doesn't have to worry about a roof over her head.
Mary's adult children live interstate and both have mortgages - she would really like to see them and her grandchildren more often, perhaps even have a holiday with them. But week to week living is still tight for Mary and this is the first time she has ever had to deal with a large amount of money.
Mary has no idea where to start or what to do!
Mary has some choices to make:
- What should she do with the money?
- Should she splurge or give it to her kids?
- What type of investments could she make without too much hard work?
- Does she need a will now?
- How will the inheritance effect her tax?
Join Me and Money and explore the Money Program to learn about a range of strategies that Mary could easily implement to invest her inheritance so she can spend more time with her children and grandchildren.