Financial Advice for Investing Inheritance
Learn how to make the most of your money with proven financial advice on investing inheritance.
What To Do With My Inheritance?
Receiving an inheritance should be considered a blessing, but if you are unsure how to manage it properly, it can be overwhelming and may even result in a large tax bill.
If you have received a large inheritance from a family member or loved one, you have many options. The right option for you will depend on your personal circumstances and financial situation. It’s important to take your time, weigh up financial considerations and seek advice.
Some common options when receiving an inheritance include:
- Investing: If you want to achieve long-term financial security, consider working with a financial planner to create a personalised investment strategy.
- Paying off Debt: You can use your inheritance to improve your financial position by paying off debts.
- Reduce Your Tax: Be aware of the tax implications of your inheritance. While there are no inheritance taxes or estate taxes in Australia but you may have to pay capital gains tax
- Boost Your Superannuation: Many Australians take advantage of the tax-advantaged retirement accounts available to them. With a large inherited sum of money, you can make concessional contributions or non-concessional contributions to your super fund as part of your retirement planning strategy.
Financial Advice, Inheritance & How to Make Your Money Last from the Best Financial Advisors Adelaide
Your inheritance is personal. Advice should be too.
With professional advice from a qualified financial planner, you can be confident that you can make the most of your inheritance money for the future.
By making the right financial and investment decisions, you can implement strategies that work for you and can help you achieve your financial goals in the long term.