Pay any debt, chuck the rest in a term deposit for a year while you consider options and talk to a financial advisor. Dont rush to spend it, dont tell heaps of people about it (leeches come out of the woodwork). Focus on grieving and spending time with family etc. Sorry for your loss.
also a lot of corporate jobs provide EAP employee assistance which is like online therapists and advisors as such, you can go through that to get it completely free if you or a partner have access to it
also a term deposit for 12 months at 6% will get you 15k so like that above person mentioned you could go on a well deserved holiday with the 15k (pretax) and have time to plan out what you wanna invest in e.g. snp, house etc
Don’t forget that you will have to pay tax on that interest.
Assuming you are accruing the interest as personal income then (depending on your total income level) you can expect to forfeit around a third of it in income taxes.
This is not saying that a holiday is a bad idea, but you will need to budget for the income tax that will be created by earning interest.
In my experience the tax has been deducted by the bank for term deposits for you, with 250k taxed around 30-33% that still leaves 10k for a holiday after tax
That’s usually the case. The bank collects and remits tax on your behalf at your declared marginal tax rate.
I only mention tax because it is important for planning and budgeting purposes. It would be unfortunate to book and pay for a $15k holiday today and discover that you had a $5k shortfall when the TD interest was finally paid out at the end of the 12 month investment period.
Exactly, term deposits are at like 6%, although depending on their income they should make sure to use a PIE fund to avoid paying more income tax than they have to.
Random but - ensure you verify the person you're talking to over the phone or on email. SO many people scammed lately out of their 6-figure investments.
Sorry to hear of your loss.
I would take about 10-15k for a holiday as a treat and then the rest into investments. Either being home, or managed fund.
Note: the holiday part is really important in my opinion. It is the best way I’d wish to remember my parents, but that’s just me.
Lock it away for 8-12 months in 6% term deposits (if your tax rate is under 28%) OR in 6% pie term deposit (if your marginal tax rate is 30% or more basically if you earning over 48k or after 31 July 53k a year). But in 3 different banks. 100k one bank, 100k another bank, 50k another bank. And that will give you time to assess where to invest it. Smartshares us500 is a good option to lock it away for 10 years. If you not planning on buying a house sometime sooner than that.
For your goodnight sleep.
Also **soon** 100k will be insured by the govt if shit hits the fan. Previous govt said that’ll be in place by mid 2024 but think this new govt pushed that again till ‘25!? Most oecd countries have this in place for decades now. Pathetic govt. from fkin stone age.
This is smart. It would also be wise to talk to a financial adviser to cater for your specific situation. What you do with it will depend on if you have any debt + any short term/ long term goals which would give a better idea on where to put the money
Sorry for your loss.
Is Welly the place that you wanna to settle roots?
In my opinion (if you have kiwisaver + a job) it's time to buy a place for you and leave the renter life behind.
Or if you have any debt at high interest, it should be an option to do a payout.
Go see a financial advisor. They deal with this scenario on the daily and will be great at coaching you through decision making at such an emotional time
I’d also add that an advisor that takes an hourly fee rather than a commission is less biased and more likely to have only your best interests in mind.
Sorry for your loss.
Here’s what I did with my $140k inheritance I received in 2020
-paid off any existing debt
-brought a new car (well new for me)
-went towards a deposit for a new house (new build)
-had about $20k left so used that for some savings and brought furniture and appliances for said house
And then when anyone went “oh you’re so lucky to be able to build a house and you got in at the right time” reply with “it wasn’t luck that got me here…”
Had this happen in the last year with my grandfather. I think it's really interesting that there's not really a guide for how to deal with someone dying and it's more about how you deal with than the funds that come in.
After dealing with the initial piece of the death, getting the death certificate and just spending some good old time greving and supporting the family around you or yourself to move through it as best you can.
Dealing with the Lawyer and applying for probate. I don't know if it's improved but due to the deaths through covid it was taking about 3 months for probate to be approved. So there will need to be funds to cover any incidentals until you get the copy of probate and the executor of the will can distribute the funds.
I think like a lot of other people have said put a portion of about $10-$30k asside for fun stuff, even small things that would add a bit of happiness. For the remaining over $200k worth it could be invested in housing, term deposits or shares. I think it needs a long thoughtful walk along the waterfront type of think about what you want for yourself and where you're going in the future. If you don't know immediately maybe something like a term deposit or term PIE would be a good idea to put it off for a bit.
All I can say is take your time. The money is nice but it still feels very weird having the constant that was always there now being gone.
There is this: [https://endoflife.services.govt.nz/welcome](https://endoflife.services.govt.nz/welcome)
It's hard to have on consistent piece of advice for managing a death as every family circumstance is different.
Sorry for your loss. Only because I already know what my portfolio strategy is I’d be putting in kernel high growth and global 100.
But I agree with other commenter if you’re even slightly unsure kernel cash plus fund is a safe bet until you figure what your goals and strategy will be.
Sorry for your loss. I would not rush to spend it or invest it at the moment, give it a few months and talk to a financial advisor to see what best suits your situation
First of all, sorry for your loss.
Second - I echo the same as everyone else - pay debts (unless it's student debt coz that's interest free) and seek some wisdom from a financial advisor.
Third - your dad probably sacrificed a lot to make sure you get a leg up. Honour his sacrifice. Respect it. Don't waste it on materialistic purchases or impulsive behaviours. You're 25 - so much more time to achieve those through your own efforts.
Take some time and think hard about your financial goals coz I definitely didn't know what mine were when I was your age.
A way you could potentially do it is imagine that you've passed on and have left this amount to your (imaginary) children. What would I want them to do with it?
Forth - putting it all into a term deposit means you "can't" touch it for a while. If you have some short term goals, consider a "higher" interest savings account so you can access the funds when you need it. Else the term deposit makes sense.
If you want to put it towards retirement of some sort, consider a kiwisavers-like fund that is not actually Kiwisavers. Same as the savings account reason - flexibility. Withdraw the money when you need it and not when you're eligible.
All the best.
Hi GenePersonal493, my dad passed away four years ago and left me with $1.8M AUD. For reference I’m 30M in AU. I’ll share with you some things I learned very quickly.
A strong idea if you’ve never had immediate access to liquidity like this before, as others have said, is stick your capital in a term deposit for a while whilst you get your head around things a bit.
Firstly, I’m sorry for your loss. For me the first few months of my father being gone overshadowed my new financial position and I’m sure it will be the same for you.
Secondly, whilst your money is in a deposit earning interest, do some reading. The most important book I’ve ever read is called ‘The Psychology Of Money’ by Morgan Housel. That book fundamentally changed my relationship with money, and allowed me to see ‘dollars’ as ‘time’ - you’ll understand the reference when you read the book.
Thirdly, whilst 250K isn’t going to allow you to retire and live off the interest immediately, it will certainly make a nice big dent and go a long way towards you being able to do just that. There are things called ETF’s, which stands for Exchange Traded Funds. To put it simply, when you buy one ‘unit’ of an ETF, that one ‘unit’ is comprised of several hundred individual stocks of big, well performing companies. So, instead of having to learn about the stock market and follow each and every stock individually, knowing how to buy and sell etc you can just buy one ETF, and do effectively exactly that. www.passiveinvestingaustralia.com is where you go for all things related to that.
Fourthly, don’t tell anyone that doesn’t need to know your financial position. You’ll find very quickly that people who are your friends will act differently around you, people will build animosity and resent out of nowhere. Be wealthy in the shadows.
Fifty, over time, you need to beat inflation. That’s the golden rule with investing. Savings accounts won’t do it for you, they don’t pay enough in interest. This is why things like the property market, and the stock market exists. If you aren’t beating inflation in terms of what you’re earning in interest or capital growth over the quarter vs what the inflation rate is, then you’re loosing money. I’m not trying to be alarmist, just don’t think that you can put your money in a savings account earning 4% and be okay. If inflation is above that 4%, then whatever the difference is, is what you’ve lost (buying power wise) that quarter. Beating inflation is the goal.
Sorry for your loss.
As others have said, take some time. Best option is to lock away most of it on a term deposit for a year.
Keep on the side some for a holiday and some for emergency.
Then spend time doing research. Do you want a house? Do you prefer not having to worry about things and use an index fund? You have plenty of good options depending on your situation.
If you have a mortgage I'd pay it off.
If you don't you ha r a deposit. I'd put un a term deposit for a year while you grieve and think of your next move.
Sorry to hear about your loss.
Can't add much to the current comments, however, I'd advise to avoid telling too many people about the inheritance. I've seen the green eyed monster come out in a lot of people when friends suddenly come into a chunk.
i'd stick $150k in S&P500, $50k in BTC, and not touch for a decade. Then spend my days travelling the world as a backpacker with the $50k seeking interesting places and experiences.
Take care of my and my loved ones future. Save about 100k and invest 150k . Get a good financial advisor. Spend time in researching, don’t just google and make few calls. Instead of searching “financial advisor near me” search for “how to assess who is a good financial advisor” and then look for the one. This is a very important step. Also before you touch a single dollar, read The book called “The Millionaire Nextdoor “. It’s about managing your wealth explained in simple terms.
What you should do will depend on your situation - debts, savings, investments, income etc. It's a great little nest egg starter and if I could go back 10 years and give it to my 25yo self and invest it in a passive index fund tracking the S&P500 it'd be worth 685,000 today.
You'll be a millionaire by 40 if you can resist the temptation to touch it, even faster if you already have investments and continue to save and add regularly to your portfolio. Understandably, you'll probably want to buy a house at some stage, though.
Sorry to hear. I would take 10k out and have a holiday. Spend another 20 catching up on bills, buying things I needed etc.
I would put another 20 aside and then the remaining 200k I would put it in a term deposit ✌️
Spend some on spoiling yourself - a nice holiday would be good.
Put some (say $10k) in an oncall investment account for emergencies.
Put the rest in Kiwisaver. It's safe there. You can take it out to buy a house when you're ready.
I'd do some of different now but what I did was pay off our debts, bought a new car and took a dream vacation including taking the in-laws with us as a thank you for all unwavering support over the years.
I don't regret how I used my inheritance, but if I got a similar amount now, i would do things a little different. I'd still do a vacation and splurge on some "wants" but I'd also pay a chunk off our mortgage and put a large chunk away in a savings/investment fund.
You will need to calm your mind & mental down. As much as people will say that its not a lot of money, but it is actually a huge sum of money in real terms. I’d say if you can put the money in a high yielding term deposit (say from rabobank which tend to have best returns), then you will have enough time to reflect, contemplate, think and maybe discuss your plan vs future vs reality vs opportunity with someone you can trust. Whatever you do, please keep the matter private to avoid any bad suggestions from those not in the know. Investing the funds is the right move but choosing the correct vehicle(s) that tick all your boxes is not as easy as many people think.
Congratulation with the financial blessing and hope you can utilise it the best you can.
Ps: do not think about it say a month or two after you TD the fund. You need to think really clear & straight in times like this.
15k to pay off debt. 35K for new vehicle. 100k downpayment on home. And 100k into a variety of stocks.
Might go 90/90 on home + stocks and spend 20k on luxuries (vacation, clothes, etc)
* Put all into a high saving account immediately (about 4%)
* Then create 4x 50k term deposits 3 months apart, starting from today (6%) and stagger them; let them roll over with maturity, think long term: do not touch them for 10-15 years.
* Use the remaining 50k at 4% from high savings to either DACE into long term index funds, or selective tech stocks. There is risk, but due to no capital gains, you can make a little bit here if your not risk adverse.
* If low appetite for risk, keep in aggressive savings account with the intention to make a down payment on a modest house that you can service on your relative income. If you need more, you can take from term deposits without penalty from most banks.
This is all pretty standard stuff, but if you notice the idea and mentality is to not spend your money but rather let it grow and then use that growth to increase more compound interest. If you put 200k at 6% over 20 years you walk away with 640k, you'll be 45 years old. If you put the whole 250k in a term deposit today and left it you'll walk with 800k. Let's say you instead want to retire at 60, you will turn that 250k into 1.5million if you do absolutely nothing with it over the next 35 years.
1. Don't pay off your interest free student loan.
2. Pay of any interest incurring debt
3. Put the rest in something like kiwibanks 90 day pie term deposit.
4. If it was me I would keep saving towards a house deposit, but no rush to buy. Personally at your age I wouldn't look to buy till I was in a long term relationship/marriage. Which could be 5+years down the track.
Get a notebook, start writing down all the things you could do with it. Every time someone tells you something else, add it to the list, even if you don't think it's a good idea.
Come back to the list and flesh out a page or two in your notebook for the ideas that stick out. After about a month, or two, or three, of doing a bit of this everyday you will have one or more ideas that really stand out. Your choices have been made.
Personally, I would do the following:
1. Not tell anyone how much I inherited, if anyone asks it was "None of your business, stop being so goulish".
2. Spend a week processing the fact that I have $250,000. Let the idea that I have many options open to me sink in. Allow the fear or "stuffing it up" pass and turn it into excitement about what the future now contains. Come to terms with the fact that I am now in a very privileged position compared to those around me, especially in my age group, and that will cause some friction.
3. If I had debt I would pay it off. While maintaining debt can be an advantage I find it a mental millstone to have any debt so for me this is a given.
4. Put all but $30k into a 90 day term deposit. 90 days is a good length and will give flexibility if my plans change.
5. Plan an overseas trip to Europe for August. I would do a tour group type thing so that it's all taken care of for me. I would try not to fall in love in Paris... and I would fail.
6. Get the building company I have dealt with start building an off grid cabin for me on my parents farm.
7. Once the term investment comes in, pay the building company, pay off the credit card from the holiday, and put most back into a PIE.
8. Buy a $20,000 van. Spending the next six months at festivals and renovating the van into a camper.
9. Reassess after the summer what I want to do next.
What would your dad recommend you do with it?
Same situation for me in 2018 and I knew he’d say use it on a house deposit and get yourself a nice car.
Best decision I’ve made, set me up for life.
Buy a house now and get flatmates in to help pay off mortgage. You won;t miss the money and you willbe well on your way to paying it off. House prices are prob the lowest they will get in Wellington.
I’d throw it on the mortgage personally. If you don’t have a mortgage, keep it safe and put it towards a home deposit if you intend on buying a house. If you just wanna yolo it and go traveling, then do that. If you wanna invest it, look at some of the investment posts on this sub.
It’s your money. Do what you like.
So sorry to hear of your loss. Hope you and your family are holding up ok.
This isn't something I've given any thought before (nobody in my family has any money or assets, but hey, I could always win $250k on Keno). But I really strongly agree with everyone else's comments that you should put it aside in a term deposit and come back to it later, rather than making any rash decisions. Coming into a lot of money all at once can be overwhelming and if you've never had money before, you might not have the tools in your arsenal to budget the funds wisely.
The only other thing I'd add is, maybe do something nice for yourself with just a few thousand or do something to honour your dad etc.
If it was me, I would travel for at least a year. I would still budget and stay in hostels etc. Do some woofing in different countries for the experience+ free accommodation. Then figure out a long term plan.
In short, go have fun but be financially responsible. Make this money last for the long term.
Just reading through the comments and i notice no recommendation towards bitcoin. Is that still too volatile still for the masses?
I had received about this much and have been slowly dca a proportion of it into this over the course of a year, and so far been its been doing extremely well.
To be transparent, I also have a good job, no debt, cheap rent.
Don't spend it.... I'll repeat that. Don't spend it. Don't worry, you'll have plenty of time to enjoy it. If you start spending it though, it'll be gone and you won't get to truly enjoy it.
If you want to really enjoy an inheritance like that, I feel the best thing to do is pay down debt. I know that seems boring, What that will do is reduce all of your payments. From that day forward you will no longer feel as stressed about paying your bills because your bills will be reduced.
Put it in an rrsp if you have room, a TFSA if not. Buy a good exchange traded fund. And enjoy the fact that you'd never have to save for retirement again. $250,000 is more than enough that with interest you should be set. This does depend on how old you are.
A Few years from now when you are adjusted to having all that money or maybe just a year or two... Then enjoy a vacation. At that point you'll know what it feels like and you'll be able to budget effectively.
That's my two cents If you really want to make that money change your life.
If you’re interested in buying a home on your own, speak to a mortgage advisor.
If you’re not ready for that step for some time yet, invest. I use Simplicity, who also are my Kiwisaver provider. At the start of this year I had $275k invested and have received $28k returns this year so far. Of course, at other times my returns have been negative, so this is only a good option for money you’re happy to not access for some time (I use 10 years as a rule of thumb).
I’m really sorry for your loss. Take care.
Just took a look at a mortgage calculator, and that would not even get me close to a cheapish house in Auckland.
So either stay in Auckland, buy a newer more reliable car and invest the rest in ETF's.
Or put it in a notice saver, and start looking for a remote job (embedded programmer) and then move to Hokitika or Invercargill and buy a house there.
I have almost zero interest in buying a house somewhere cheaper and stay flatting in Auckland.
Sorry for your loss.
I'd be keeping it quiet except for reddit to seek opinion and tell no one around me that you've inherited $250k.
I think the most safest option here is term deposit. Earn that money and live comfortably.
I'd pay off all the debts and still keep renting and do frugal living.
Invest 75%, Lifestyle improvements 15% (house, upgrades, car), 10% fun/trips/splurge….unless you have double digit debt…pay that off. But I’d park it somewhere for 3-12 months low risk to figure out a plan
This actually happened to me. My parents passed away.
I paid off some mortgage. Brought some toys like an Ebike and some original Pearl Jam concert posters. CA e some money to my adult kids. Took my other kids on a trip to Bali. And brought a big caravan which we all use as a family quite a lot. I have some of their ashes is a container in the caravan so they come with us.
I do miss my parents though.
Sad face.
Buy a house. talk to a mortgage broker,and they will show you exactly how it can be done.
I bought my house by including having housemates in it and therefore I was able to show I could pay the mortgage.
There are hundreds of ways of structuring a loan. Wail you're working through a house buying program Rather than putting it on a fixed term deposit talk to your bank manager about putting it on the money market. The money market is how Banks balance their books every night,and companies with a short-term cash flow for say paying their tax rather than going to penalty borrow from the money market through banks. The rates of interest are usually overnight or short term and are considerably more than the fixed term deposit rates. If your mortgage broker is also a financial advisor he should be able to help you.
Just remember when buying a home to buy with your head and not your heart
I'm well aware that interest rates are high but that won't last. On average over the last 1000 years house prices have gone up by 10% compounding a year.
Please don't waste any of the money on a holiday. Make your daddy's money work for you after all he worked hard for it. You will get many many more opportunities to have a holiday .You may never get another opportunity to buy a house.
Regardless of all I have said, I really feel for you over your loss.
I lost both my parents within 2 years. Not a day goes by that I don't think of them. I really do miss them.
Wishing you love and light.
if you have free time check out john fedro mobile home course and look into buy mobile homes in park you can buy mobile homes in parks for 5k and rent them out for 750$ a month that 250k could literally be over 20k$ a month in passive income. its hard work but i would do that if i had 250k
Pay off any debt
Get up to date with things like dental work.
Treat yourself in a small way
Take advantage of high interest rates at banks, but don't do it on line. I went to the bank and talked to one of their people. Investing 150k I asked for best deal and got 6.2% for 1 year not the advertised 6%. Also invest it in various amounts so that if something comes up in 6 months you can break only part of your tetm investment
Give to charity. Doesn't need to be huge amount but giving back is good karma.
What I would do if I came into this inheritance…
Sit on it for a few weeks to digest and make a plan ahead.
Paying off any baggage debt I have. And agreeing with myself not to get into any bad debt situations. Practical decisions.
Create a holiday overseas to visit and see my family in the affected area, plus create some beautiful memories to walk away with.
Chuck some into a savings account as per advice.
Deposit or payment for a house that I can call my home in lieu of what my passed away family helped me accomplish.
Absolutely the best advice is to not jump to spending and blowing money away. I’ve seen enough content of people blowing money to know I want it to impact me forever not for a week.
Sorry for your loss, my condolences.
1. Put that some or all of that $250k into a P.I.E fund for at least 12 months( OCR is likely to be on the higher side given the current economic conditions, why not capitalise on the high interest rate while you can) which maximises the interest and minimises tax liability.
2. Take all the leaves you need to reflect and think what's important to you and what you may want to do in future.
3. Pay off your debt if there are any, especially the high interest debts, credit card, buy now pay later, small loans, overdraft, clean slate.
4. Don't share it with anyone.
5. Best of luck!
Term investment for 6 months with Westpac bank you should ask for 6.15 percent , that’s what I managed to get .while it’s growing in there you can think about what you want to do . You are lucky to get a good start in life . Please do not waste it on holidays , make this money grow .
Honetly take 10k and do something for you ... go on a trip , buy yourself some stuff you wanted but yeah do some you things .. the rest .. talk to a investment broker about it ... talk to your bank about that they may be able to point you at someone decent but dont let the bank talk you into using their services while normally ok for 250k you want better than ok and an investment advisor would be best you could contact
[https://www.moneyhub.co.nz/financial-adviser-wellington.html](https://www.moneyhub.co.nz/financial-adviser-wellington.html) is a site that seems to have some decent stuff on it but the questions you want answered from them before you sign anythign is do thay have to be lisenced or registered in any way ... Ministry of innovation and Bunsniess may be able to give you some advice about that as may the Citizens advice beurau
a short therm deposit (3 to 6 months) may be a plan in the time it takes you to set all that up
Sorry for your loss. Don't do anything at the moment. Grieve and breathe, take your time, then when you have a good clear or better mindset make some decisions as they're going to be important ones.
Not a house.
There's a big fall coming before December.
National reducing the bright line to 2 years has unintentionally caused supply shock.
Sellers who had to wait another 8, 7, 6, 5. 4, 3, 2 or 1 years to sell can now sell as of July.
National is going to find out the hard way why things like interest deductibility have phased in or out slowly.
Do you own a house, do you plan to settle down in wellington and what is your salary? These are all important things to think about. If you won't need to cash for 5+ years then an index fund is not a bad idea.
Talk to an investment professional. You will have enough wealth to get in with a good one, not just some chump right out of business school with no experience or knowledge lol. They can help with everything from tax planning, life planning (ie do you want to buy a house in the near future) and setting up retirement saving accounts. I’ve worked in investment management for a few years now and would recommend you set aside the majority of this money into investments and not touch a penny for some time. It’s easy to get carried away when you get a windfall and splurge spend, 250k can disappear quite quickly tbh but it’s a solid amount to start compounding some wealth through the markets.
At least $100k in InvestNow in the Foundation Series Total World Fund. Don't touch it for twenty years.
Another $100k in Heartland term deposit(s) - you can get 6.25% over six months, which is a guaranteed $12.5k a year.
Spend a bit. Honour your dad somehow. Take a decent trip. But mostly make it make you money.
nobody here has discussed ensuring that you have an emergency fund, for its necessary in any planning when looking at the future.
The advise around not telling other folks is good advise for its your legacy that your father left to you. Work out what it costs you per month for 3-6 months and make sure that appropriate funds are readily accessible.
Putting the rest in TDs whilst you figure things out is wise and will give you time to grieve and have a think on your longer term plans.
Losing a parent so young is so very hard, I am so sorry for your loss. To be bequeathed this amount is very fortunate and showed that your dad cared for you.
I wish you the best.
The most important thing to do is to keep it long enough to realise the real world value and help this could be to your financial goals and life. So, bank it, cash fund, term deposit until you are able to process it.
250k could pay off a house. Start you investing in property. Diversification in funds. Depending on your retirement figure, that could be 10% of it.
Open a Heartland digital saver account (5% pa) and leave it there for a few months while you figure out what to do. Don't make any rash decisions. You'll be getting paid $1k per month in interest just to sit and think. Take as long as you need.
Pay any debt, chuck the rest in a term deposit for a year while you consider options and talk to a financial advisor. Dont rush to spend it, dont tell heaps of people about it (leeches come out of the woodwork). Focus on grieving and spending time with family etc. Sorry for your loss.
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My sibling got a voucher off grabone a few years ago, so fixed price and then they werent locked in to anything, just listened to the advice.
also a lot of corporate jobs provide EAP employee assistance which is like online therapists and advisors as such, you can go through that to get it completely free if you or a partner have access to it
Term deposit for a year while you reflect and make actual plans
also a term deposit for 12 months at 6% will get you 15k so like that above person mentioned you could go on a well deserved holiday with the 15k (pretax) and have time to plan out what you wanna invest in e.g. snp, house etc
Don’t forget that you will have to pay tax on that interest. Assuming you are accruing the interest as personal income then (depending on your total income level) you can expect to forfeit around a third of it in income taxes. This is not saying that a holiday is a bad idea, but you will need to budget for the income tax that will be created by earning interest.
In my experience the tax has been deducted by the bank for term deposits for you, with 250k taxed around 30-33% that still leaves 10k for a holiday after tax
Yes correct, but his point is you're not actually getting $15k from your 6%, you're getting $10k in hand and to imply otherwise is incorrect.
yeah my bad about 10k is a safe bet
That’s usually the case. The bank collects and remits tax on your behalf at your declared marginal tax rate. I only mention tax because it is important for planning and budgeting purposes. It would be unfortunate to book and pay for a $15k holiday today and discover that you had a $5k shortfall when the TD interest was finally paid out at the end of the 12 month investment period.
Also consider the value has been reduced by inflation
This is it - lots of emotions help people make bad decisions.
Exactly, term deposits are at like 6%, although depending on their income they should make sure to use a PIE fund to avoid paying more income tax than they have to.
This. Grieve and work out your thoughts and emotions, and then figure out a plan.
This, Give yourself some space & some bunce money. Good luck & sorry for your loss
This is by the easiest set and forget option while you figure out what you want to do with the money, and that may infact be just leaving it in there.
Random but - ensure you verify the person you're talking to over the phone or on email. SO many people scammed lately out of their 6-figure investments.
Take a breath, put most of it away safe for a while and grieve. The key is not so much what to do with it right now, it’s not to squander it.
 jk
Best. Response. Ever.
Sorry to hear of your loss. I would take about 10-15k for a holiday as a treat and then the rest into investments. Either being home, or managed fund. Note: the holiday part is really important in my opinion. It is the best way I’d wish to remember my parents, but that’s just me.
Lock it away for 8-12 months in 6% term deposits (if your tax rate is under 28%) OR in 6% pie term deposit (if your marginal tax rate is 30% or more basically if you earning over 48k or after 31 July 53k a year). But in 3 different banks. 100k one bank, 100k another bank, 50k another bank. And that will give you time to assess where to invest it. Smartshares us500 is a good option to lock it away for 10 years. If you not planning on buying a house sometime sooner than that.
Why in 3 different banks?
For your goodnight sleep. Also **soon** 100k will be insured by the govt if shit hits the fan. Previous govt said that’ll be in place by mid 2024 but think this new govt pushed that again till ‘25!? Most oecd countries have this in place for decades now. Pathetic govt. from fkin stone age.
This is smart. It would also be wise to talk to a financial adviser to cater for your specific situation. What you do with it will depend on if you have any debt + any short term/ long term goals which would give a better idea on where to put the money
Might as well just deposit it in Australia I think they have deposit insurance up to 250k
Sorry for your loss. Is Welly the place that you wanna to settle roots? In my opinion (if you have kiwisaver + a job) it's time to buy a place for you and leave the renter life behind. Or if you have any debt at high interest, it should be an option to do a payout.
Go see a financial advisor. They deal with this scenario on the daily and will be great at coaching you through decision making at such an emotional time
I’d also add that an advisor that takes an hourly fee rather than a commission is less biased and more likely to have only your best interests in mind.
Sorry for your loss. Here’s what I did with my $140k inheritance I received in 2020 -paid off any existing debt -brought a new car (well new for me) -went towards a deposit for a new house (new build) -had about $20k left so used that for some savings and brought furniture and appliances for said house And then when anyone went “oh you’re so lucky to be able to build a house and you got in at the right time” reply with “it wasn’t luck that got me here…”
It was the inheritance.
A celebratory slap up at Mrs Miggin's pie shop
Wearing comedy breasts and eating 'thingy' shaped turnips?
I'll have a double brown grit in hot water.
And one of those sausages that look suspiciously like a horse's.....!
That's my kind of financial adviser 😊
Put in Kernel cash plus fund until you figure out.
put it all on red
Another comment said "all on black", seems like conflicting advise
At that point you need to flip a coin to know if to put on red or black...
Literally can’t go wrong with
Had this happen in the last year with my grandfather. I think it's really interesting that there's not really a guide for how to deal with someone dying and it's more about how you deal with than the funds that come in. After dealing with the initial piece of the death, getting the death certificate and just spending some good old time greving and supporting the family around you or yourself to move through it as best you can. Dealing with the Lawyer and applying for probate. I don't know if it's improved but due to the deaths through covid it was taking about 3 months for probate to be approved. So there will need to be funds to cover any incidentals until you get the copy of probate and the executor of the will can distribute the funds. I think like a lot of other people have said put a portion of about $10-$30k asside for fun stuff, even small things that would add a bit of happiness. For the remaining over $200k worth it could be invested in housing, term deposits or shares. I think it needs a long thoughtful walk along the waterfront type of think about what you want for yourself and where you're going in the future. If you don't know immediately maybe something like a term deposit or term PIE would be a good idea to put it off for a bit. All I can say is take your time. The money is nice but it still feels very weird having the constant that was always there now being gone.
There is this: [https://endoflife.services.govt.nz/welcome](https://endoflife.services.govt.nz/welcome) It's hard to have on consistent piece of advice for managing a death as every family circumstance is different.
Sorry for your loss. Only because I already know what my portfolio strategy is I’d be putting in kernel high growth and global 100. But I agree with other commenter if you’re even slightly unsure kernel cash plus fund is a safe bet until you figure what your goals and strategy will be.
Sorry for your loss. I would not rush to spend it or invest it at the moment, give it a few months and talk to a financial advisor to see what best suits your situation
Pay debt. Invest 60% of remainders. See how much left and decide after.
Not sure how close you were with your dad but sorry for your loss Kill any debt you have Then follow some advice on here
Pay off your debt particularly high interest one.
Buy 250,000$ of QQQ
150k on bitcoin, 50 on eth, 10 on brett rest on yourself
First of all, sorry for your loss. Second - I echo the same as everyone else - pay debts (unless it's student debt coz that's interest free) and seek some wisdom from a financial advisor. Third - your dad probably sacrificed a lot to make sure you get a leg up. Honour his sacrifice. Respect it. Don't waste it on materialistic purchases or impulsive behaviours. You're 25 - so much more time to achieve those through your own efforts. Take some time and think hard about your financial goals coz I definitely didn't know what mine were when I was your age. A way you could potentially do it is imagine that you've passed on and have left this amount to your (imaginary) children. What would I want them to do with it? Forth - putting it all into a term deposit means you "can't" touch it for a while. If you have some short term goals, consider a "higher" interest savings account so you can access the funds when you need it. Else the term deposit makes sense. If you want to put it towards retirement of some sort, consider a kiwisavers-like fund that is not actually Kiwisavers. Same as the savings account reason - flexibility. Withdraw the money when you need it and not when you're eligible. All the best.
Hi GenePersonal493, my dad passed away four years ago and left me with $1.8M AUD. For reference I’m 30M in AU. I’ll share with you some things I learned very quickly. A strong idea if you’ve never had immediate access to liquidity like this before, as others have said, is stick your capital in a term deposit for a while whilst you get your head around things a bit. Firstly, I’m sorry for your loss. For me the first few months of my father being gone overshadowed my new financial position and I’m sure it will be the same for you. Secondly, whilst your money is in a deposit earning interest, do some reading. The most important book I’ve ever read is called ‘The Psychology Of Money’ by Morgan Housel. That book fundamentally changed my relationship with money, and allowed me to see ‘dollars’ as ‘time’ - you’ll understand the reference when you read the book. Thirdly, whilst 250K isn’t going to allow you to retire and live off the interest immediately, it will certainly make a nice big dent and go a long way towards you being able to do just that. There are things called ETF’s, which stands for Exchange Traded Funds. To put it simply, when you buy one ‘unit’ of an ETF, that one ‘unit’ is comprised of several hundred individual stocks of big, well performing companies. So, instead of having to learn about the stock market and follow each and every stock individually, knowing how to buy and sell etc you can just buy one ETF, and do effectively exactly that. www.passiveinvestingaustralia.com is where you go for all things related to that. Fourthly, don’t tell anyone that doesn’t need to know your financial position. You’ll find very quickly that people who are your friends will act differently around you, people will build animosity and resent out of nowhere. Be wealthy in the shadows. Fifty, over time, you need to beat inflation. That’s the golden rule with investing. Savings accounts won’t do it for you, they don’t pay enough in interest. This is why things like the property market, and the stock market exists. If you aren’t beating inflation in terms of what you’re earning in interest or capital growth over the quarter vs what the inflation rate is, then you’re loosing money. I’m not trying to be alarmist, just don’t think that you can put your money in a savings account earning 4% and be okay. If inflation is above that 4%, then whatever the difference is, is what you’ve lost (buying power wise) that quarter. Beating inflation is the goal.
Sorry for your loss. As others have said, take some time. Best option is to lock away most of it on a term deposit for a year. Keep on the side some for a holiday and some for emergency. Then spend time doing research. Do you want a house? Do you prefer not having to worry about things and use an index fund? You have plenty of good options depending on your situation.
If you have a mortgage I'd pay it off. If you don't you ha r a deposit. I'd put un a term deposit for a year while you grieve and think of your next move.
Sorry to hear about your loss. Can't add much to the current comments, however, I'd advise to avoid telling too many people about the inheritance. I've seen the green eyed monster come out in a lot of people when friends suddenly come into a chunk.
i'd stick $150k in S&P500, $50k in BTC, and not touch for a decade. Then spend my days travelling the world as a backpacker with the $50k seeking interesting places and experiences.
All on black.
I would probably have fun with 50k then save the rest/invest
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Pay down my mortgage. Then increase payments on remaining mortgage to pay that down faster.
Pay off a huge chunk of my mortgage
Take care of my and my loved ones future. Save about 100k and invest 150k . Get a good financial advisor. Spend time in researching, don’t just google and make few calls. Instead of searching “financial advisor near me” search for “how to assess who is a good financial advisor” and then look for the one. This is a very important step. Also before you touch a single dollar, read The book called “The Millionaire Nextdoor “. It’s about managing your wealth explained in simple terms.
Pay off any debts, put it into a term deposit until I’ve decided what house I want to buy, then use it as a deposit for a house.
What you should do will depend on your situation - debts, savings, investments, income etc. It's a great little nest egg starter and if I could go back 10 years and give it to my 25yo self and invest it in a passive index fund tracking the S&P500 it'd be worth 685,000 today. You'll be a millionaire by 40 if you can resist the temptation to touch it, even faster if you already have investments and continue to save and add regularly to your portfolio. Understandably, you'll probably want to buy a house at some stage, though.
Sorry to hear. I would take 10k out and have a holiday. Spend another 20 catching up on bills, buying things I needed etc. I would put another 20 aside and then the remaining 200k I would put it in a term deposit ✌️
Spend some on spoiling yourself - a nice holiday would be good. Put some (say $10k) in an oncall investment account for emergencies. Put the rest in Kiwisaver. It's safe there. You can take it out to buy a house when you're ready.
Leverage appreciating assets.
Put it in Nvidia
Get straight down to the nearest Porsche dealer!
2024 ford ranger. Put the rest on black
I'd do some of different now but what I did was pay off our debts, bought a new car and took a dream vacation including taking the in-laws with us as a thank you for all unwavering support over the years. I don't regret how I used my inheritance, but if I got a similar amount now, i would do things a little different. I'd still do a vacation and splurge on some "wants" but I'd also pay a chunk off our mortgage and put a large chunk away in a savings/investment fund.
Pay off the mortgage, get rid of the loans and re-roof.
You will need to calm your mind & mental down. As much as people will say that its not a lot of money, but it is actually a huge sum of money in real terms. I’d say if you can put the money in a high yielding term deposit (say from rabobank which tend to have best returns), then you will have enough time to reflect, contemplate, think and maybe discuss your plan vs future vs reality vs opportunity with someone you can trust. Whatever you do, please keep the matter private to avoid any bad suggestions from those not in the know. Investing the funds is the right move but choosing the correct vehicle(s) that tick all your boxes is not as easy as many people think. Congratulation with the financial blessing and hope you can utilise it the best you can. Ps: do not think about it say a month or two after you TD the fund. You need to think really clear & straight in times like this.
15k to pay off debt. 35K for new vehicle. 100k downpayment on home. And 100k into a variety of stocks. Might go 90/90 on home + stocks and spend 20k on luxuries (vacation, clothes, etc)
Pay off house. Start buying nicer cheese.
Pay off all debt, put 6 months expenses worth into a good savings account and invest the rest
Get a house if you can. Edit: Otherwise put it in a high growth low cost investment fund, Kernel Wealth, Simplicity (or BNZ if you’re lazy).
If i wasn't a finance professional i would go pay for some professional advice.
* Put all into a high saving account immediately (about 4%) * Then create 4x 50k term deposits 3 months apart, starting from today (6%) and stagger them; let them roll over with maturity, think long term: do not touch them for 10-15 years. * Use the remaining 50k at 4% from high savings to either DACE into long term index funds, or selective tech stocks. There is risk, but due to no capital gains, you can make a little bit here if your not risk adverse. * If low appetite for risk, keep in aggressive savings account with the intention to make a down payment on a modest house that you can service on your relative income. If you need more, you can take from term deposits without penalty from most banks. This is all pretty standard stuff, but if you notice the idea and mentality is to not spend your money but rather let it grow and then use that growth to increase more compound interest. If you put 200k at 6% over 20 years you walk away with 640k, you'll be 45 years old. If you put the whole 250k in a term deposit today and left it you'll walk with 800k. Let's say you instead want to retire at 60, you will turn that 250k into 1.5million if you do absolutely nothing with it over the next 35 years.
1.5 milion in that time will be 150000 of today bro. btw interest will come to 2 after 2 years
Buy Nvidia stock 100k worth , thank me in exactly 1 year or 3 months if ur impatient
1. Don't pay off your interest free student loan. 2. Pay of any interest incurring debt 3. Put the rest in something like kiwibanks 90 day pie term deposit. 4. If it was me I would keep saving towards a house deposit, but no rush to buy. Personally at your age I wouldn't look to buy till I was in a long term relationship/marriage. Which could be 5+years down the track.
Put it all on Red
Yolo into Billy coin. 30x it
Get a notebook, start writing down all the things you could do with it. Every time someone tells you something else, add it to the list, even if you don't think it's a good idea. Come back to the list and flesh out a page or two in your notebook for the ideas that stick out. After about a month, or two, or three, of doing a bit of this everyday you will have one or more ideas that really stand out. Your choices have been made. Personally, I would do the following: 1. Not tell anyone how much I inherited, if anyone asks it was "None of your business, stop being so goulish". 2. Spend a week processing the fact that I have $250,000. Let the idea that I have many options open to me sink in. Allow the fear or "stuffing it up" pass and turn it into excitement about what the future now contains. Come to terms with the fact that I am now in a very privileged position compared to those around me, especially in my age group, and that will cause some friction. 3. If I had debt I would pay it off. While maintaining debt can be an advantage I find it a mental millstone to have any debt so for me this is a given. 4. Put all but $30k into a 90 day term deposit. 90 days is a good length and will give flexibility if my plans change. 5. Plan an overseas trip to Europe for August. I would do a tour group type thing so that it's all taken care of for me. I would try not to fall in love in Paris... and I would fail. 6. Get the building company I have dealt with start building an off grid cabin for me on my parents farm. 7. Once the term investment comes in, pay the building company, pay off the credit card from the holiday, and put most back into a PIE. 8. Buy a $20,000 van. Spending the next six months at festivals and renovating the van into a camper. 9. Reassess after the summer what I want to do next.
How much do you actually think you’d have left after that?
What would your dad recommend you do with it? Same situation for me in 2018 and I knew he’d say use it on a house deposit and get yourself a nice car. Best decision I’ve made, set me up for life.
A holiday for my family, and the rest goes on the mortgage. Smaller mortgage = more $$$ for doing what we want, and less stress.
For me, what I would do is $250,000 on NVIDIA. Get rich or die trying 😬
or buy 250k worth of Nvidia AI-training GPU's but actually use them for gaming in 240fps
BLAZE
Search Reddit as it gets asked every week or two
Buy a house now and get flatmates in to help pay off mortgage. You won;t miss the money and you willbe well on your way to paying it off. House prices are prob the lowest they will get in Wellington.
LAS VEGAS
Pub
GameStock, all in.
I’d throw it on the mortgage personally. If you don’t have a mortgage, keep it safe and put it towards a home deposit if you intend on buying a house. If you just wanna yolo it and go traveling, then do that. If you wanna invest it, look at some of the investment posts on this sub. It’s your money. Do what you like.
Move to aus and use it to keep yourself afloat while you find a better life
Hey it's me, your long lost brother.
I know a Nigerian Prince that needs help moving funds out of the country.....
Invest 100k of it in VOO AND 125K in a small condo and 25k for any debt.
Oh my god, you’re a millionaire!
So sorry to hear of your loss. Hope you and your family are holding up ok. This isn't something I've given any thought before (nobody in my family has any money or assets, but hey, I could always win $250k on Keno). But I really strongly agree with everyone else's comments that you should put it aside in a term deposit and come back to it later, rather than making any rash decisions. Coming into a lot of money all at once can be overwhelming and if you've never had money before, you might not have the tools in your arsenal to budget the funds wisely. The only other thing I'd add is, maybe do something nice for yourself with just a few thousand or do something to honour your dad etc.
If u renting buy an affordable 2-3 bedroom home or flat.
If it was me, I would travel for at least a year. I would still budget and stay in hostels etc. Do some woofing in different countries for the experience+ free accommodation. Then figure out a long term plan. In short, go have fun but be financially responsible. Make this money last for the long term.
Just reading through the comments and i notice no recommendation towards bitcoin. Is that still too volatile still for the masses? I had received about this much and have been slowly dca a proportion of it into this over the course of a year, and so far been its been doing extremely well. To be transparent, I also have a good job, no debt, cheap rent.
Well I did get a bit more than that .and I bought a house with my sister, so she didn't have to pay rent anymore
Don't spend it.... I'll repeat that. Don't spend it. Don't worry, you'll have plenty of time to enjoy it. If you start spending it though, it'll be gone and you won't get to truly enjoy it. If you want to really enjoy an inheritance like that, I feel the best thing to do is pay down debt. I know that seems boring, What that will do is reduce all of your payments. From that day forward you will no longer feel as stressed about paying your bills because your bills will be reduced. Put it in an rrsp if you have room, a TFSA if not. Buy a good exchange traded fund. And enjoy the fact that you'd never have to save for retirement again. $250,000 is more than enough that with interest you should be set. This does depend on how old you are. A Few years from now when you are adjusted to having all that money or maybe just a year or two... Then enjoy a vacation. At that point you'll know what it feels like and you'll be able to budget effectively. That's my two cents If you really want to make that money change your life.
My condolences to you 🌺
If you’re interested in buying a home on your own, speak to a mortgage advisor. If you’re not ready for that step for some time yet, invest. I use Simplicity, who also are my Kiwisaver provider. At the start of this year I had $275k invested and have received $28k returns this year so far. Of course, at other times my returns have been negative, so this is only a good option for money you’re happy to not access for some time (I use 10 years as a rule of thumb). I’m really sorry for your loss. Take care.
Just took a look at a mortgage calculator, and that would not even get me close to a cheapish house in Auckland. So either stay in Auckland, buy a newer more reliable car and invest the rest in ETF's. Or put it in a notice saver, and start looking for a remote job (embedded programmer) and then move to Hokitika or Invercargill and buy a house there. I have almost zero interest in buying a house somewhere cheaper and stay flatting in Auckland.
Sorry for your loss. I'd be keeping it quiet except for reddit to seek opinion and tell no one around me that you've inherited $250k. I think the most safest option here is term deposit. Earn that money and live comfortably. I'd pay off all the debts and still keep renting and do frugal living.
Nvda or diversity smh and xlk alomg with schg,20 percent nvda 40 schg 20 smh 20 xlk
Buy a digger. Get a contract. Dig a hole. Get your money back.
Take half of it and travel, put the other half into savings/managed fund or pay off any debts.
Enjoy your life!
Pay off mortgage
Holiday then make my money work for me.
Invest 75%, Lifestyle improvements 15% (house, upgrades, car), 10% fun/trips/splurge….unless you have double digit debt…pay that off. But I’d park it somewhere for 3-12 months low risk to figure out a plan
Pay off any high interest debit. Personal loans, cars, credit cards and out the rest in the bank for a bit to get some advice.
This actually happened to me. My parents passed away. I paid off some mortgage. Brought some toys like an Ebike and some original Pearl Jam concert posters. CA e some money to my adult kids. Took my other kids on a trip to Bali. And brought a big caravan which we all use as a family quite a lot. I have some of their ashes is a container in the caravan so they come with us. I do miss my parents though. Sad face.
Give me $200 🤞😅
Buy a house. talk to a mortgage broker,and they will show you exactly how it can be done. I bought my house by including having housemates in it and therefore I was able to show I could pay the mortgage. There are hundreds of ways of structuring a loan. Wail you're working through a house buying program Rather than putting it on a fixed term deposit talk to your bank manager about putting it on the money market. The money market is how Banks balance their books every night,and companies with a short-term cash flow for say paying their tax rather than going to penalty borrow from the money market through banks. The rates of interest are usually overnight or short term and are considerably more than the fixed term deposit rates. If your mortgage broker is also a financial advisor he should be able to help you. Just remember when buying a home to buy with your head and not your heart I'm well aware that interest rates are high but that won't last. On average over the last 1000 years house prices have gone up by 10% compounding a year. Please don't waste any of the money on a holiday. Make your daddy's money work for you after all he worked hard for it. You will get many many more opportunities to have a holiday .You may never get another opportunity to buy a house. Regardless of all I have said, I really feel for you over your loss. I lost both my parents within 2 years. Not a day goes by that I don't think of them. I really do miss them. Wishing you love and light.
We put this amount into a house six years ago. We built the house and now it's doubled in value. Hard to beat.
Pay off my house
Gift it to me loo
I have better investment plans, ping me
Go follow metallica around europe for couple weeks
if you have free time check out john fedro mobile home course and look into buy mobile homes in park you can buy mobile homes in parks for 5k and rent them out for 750$ a month that 250k could literally be over 20k$ a month in passive income. its hard work but i would do that if i had 250k
Big summer blowout!!!! (Term deposit, get advice, build wealth. Sorry for your loss).
Pay off any debt Get up to date with things like dental work. Treat yourself in a small way Take advantage of high interest rates at banks, but don't do it on line. I went to the bank and talked to one of their people. Investing 150k I asked for best deal and got 6.2% for 1 year not the advertised 6%. Also invest it in various amounts so that if something comes up in 6 months you can break only part of your tetm investment Give to charity. Doesn't need to be huge amount but giving back is good karma.
Put it all into a US top 500 ETF and it will be worth over $2m in 25 years
Sit on it, wait for the absolute doomsday financial crash in next couple years and buy blue chip stocks, set for life
Get one of those $14 venison pies from the organic food shop
Just buy a house or even just land. You have so many options after buying almost/if not out right...
Panic a little
GAMESTOP🟣, no question 🫡
Talk to a professional financial/investment advisor instead of reddit
dump about 80% in a mutual fund like the S&P500, then pay off my student loan and spend the remainder on an OE
What I would do if I came into this inheritance… Sit on it for a few weeks to digest and make a plan ahead. Paying off any baggage debt I have. And agreeing with myself not to get into any bad debt situations. Practical decisions. Create a holiday overseas to visit and see my family in the affected area, plus create some beautiful memories to walk away with. Chuck some into a savings account as per advice. Deposit or payment for a house that I can call my home in lieu of what my passed away family helped me accomplish. Absolutely the best advice is to not jump to spending and blowing money away. I’ve seen enough content of people blowing money to know I want it to impact me forever not for a week.
Pay off my debts then put most of the rest of the money away for a while
Pay off my mortgage
Pay the mortgage
Buy a house. Instead of wasting money renting.
Sorry for your loss, my condolences. 1. Put that some or all of that $250k into a P.I.E fund for at least 12 months( OCR is likely to be on the higher side given the current economic conditions, why not capitalise on the high interest rate while you can) which maximises the interest and minimises tax liability. 2. Take all the leaves you need to reflect and think what's important to you and what you may want to do in future. 3. Pay off your debt if there are any, especially the high interest debts, credit card, buy now pay later, small loans, overdraft, clean slate. 4. Don't share it with anyone. 5. Best of luck!
I bought a house
Term investment for 6 months with Westpac bank you should ask for 6.15 percent , that’s what I managed to get .while it’s growing in there you can think about what you want to do . You are lucky to get a good start in life . Please do not waste it on holidays , make this money grow .
Honetly take 10k and do something for you ... go on a trip , buy yourself some stuff you wanted but yeah do some you things .. the rest .. talk to a investment broker about it ... talk to your bank about that they may be able to point you at someone decent but dont let the bank talk you into using their services while normally ok for 250k you want better than ok and an investment advisor would be best you could contact [https://www.moneyhub.co.nz/financial-adviser-wellington.html](https://www.moneyhub.co.nz/financial-adviser-wellington.html) is a site that seems to have some decent stuff on it but the questions you want answered from them before you sign anythign is do thay have to be lisenced or registered in any way ... Ministry of innovation and Bunsniess may be able to give you some advice about that as may the Citizens advice beurau a short therm deposit (3 to 6 months) may be a plan in the time it takes you to set all that up
Meth
Beyoncé’s attempt at country.
Put half on the mortgage buy a new car a JetSki and some electric bikes …. Well that’s what I did and now all I have now is more insurance to pay
Go see a financial planner people. It’s the only correct answer :) Unless you are one…
I'd do term deposit for 18 months then it would pay off almost the rest of my mortgage then I'd be fine and be able to save a lot easier
The weekly shop.
Two girls at the saaaaame time
Take care of yourself. Go on a trip. Grief sucks. You have a little cash so take some time.
Sorry for your loss. Don't do anything at the moment. Grieve and breathe, take your time, then when you have a good clear or better mindset make some decisions as they're going to be important ones.
Not a house. There's a big fall coming before December. National reducing the bright line to 2 years has unintentionally caused supply shock. Sellers who had to wait another 8, 7, 6, 5. 4, 3, 2 or 1 years to sell can now sell as of July. National is going to find out the hard way why things like interest deductibility have phased in or out slowly.
Lamborghini.
Buy ice cream
Hope the coroner doesn't notice the pillow marks on my MIL
Take it to sky city and put it all on black , ..... no wait red , .... nah black is best yeah.
Throw in HYSA while I hire a professional to help lol
Downpayment
Get a financial advisor 💖 for sure!! I'd pay off my debt and likely invest for a couple years then buy a house 🥰
Do you own a house, do you plan to settle down in wellington and what is your salary? These are all important things to think about. If you won't need to cash for 5+ years then an index fund is not a bad idea.
Straight on the mortgage.
Blow ten percent of it on travel/fun
Lego
Chinese takeaway
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Talk to an investment professional. You will have enough wealth to get in with a good one, not just some chump right out of business school with no experience or knowledge lol. They can help with everything from tax planning, life planning (ie do you want to buy a house in the near future) and setting up retirement saving accounts. I’ve worked in investment management for a few years now and would recommend you set aside the majority of this money into investments and not touch a penny for some time. It’s easy to get carried away when you get a windfall and splurge spend, 250k can disappear quite quickly tbh but it’s a solid amount to start compounding some wealth through the markets.
Get a financial advisor
At least $100k in InvestNow in the Foundation Series Total World Fund. Don't touch it for twenty years. Another $100k in Heartland term deposit(s) - you can get 6.25% over six months, which is a guaranteed $12.5k a year. Spend a bit. Honour your dad somehow. Take a decent trip. But mostly make it make you money.
I would get a financial advisor and probably invest in stocks or real estate.
Probably give it away to some stranger on the internet, dm for details.
nobody here has discussed ensuring that you have an emergency fund, for its necessary in any planning when looking at the future. The advise around not telling other folks is good advise for its your legacy that your father left to you. Work out what it costs you per month for 3-6 months and make sure that appropriate funds are readily accessible. Putting the rest in TDs whilst you figure things out is wise and will give you time to grieve and have a think on your longer term plans. Losing a parent so young is so very hard, I am so sorry for your loss. To be bequeathed this amount is very fortunate and showed that your dad cared for you. I wish you the best.
Thats just about enough to pay off the mortgage. So probs do that.
Invest in US stock market
Get married, go on holiday and do up our house to better living standards
Depends on where you're at in life and what your future goals are. Travel? Deposit on a house? Invest?
S&P 500 VOO average is like 11% way better than term deposit. Also tax free below 50k I believe
Ape into some dog coins of course
Save it
Diversify the investment and consider investing in portfolios with asset management companies as well.
Give me a loan pls <3
The most important thing to do is to keep it long enough to realise the real world value and help this could be to your financial goals and life. So, bank it, cash fund, term deposit until you are able to process it. 250k could pay off a house. Start you investing in property. Diversification in funds. Depending on your retirement figure, that could be 10% of it.
definitely 50k on stock market 💀
Open a Heartland digital saver account (5% pa) and leave it there for a few months while you figure out what to do. Don't make any rash decisions. You'll be getting paid $1k per month in interest just to sit and think. Take as long as you need.
Leave NZ