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What is the best investment strategy for an inheritance to get income during retirement years?



Our response:

Thanks for your question Rae. We are not able to recommend specific products, but we are happy to provide resources to help you make an informed decision about where to invest.

Our inheriting money hub contains articles relating to ‘getting advice’ and ‘financial planning’ which may help you get started with building an investment plan. Before you decide how to invest money from an inheritance, make sure you look at your whole financial situation and determine if there are debts that you should pay off first. Learn how to create a balanced budget which can help you track spending and prepare for unexpected expenses.

Read about the risk-return relationship so that you are comfortable with your level of risk tolerance. Take some time to understand the different investment products and the pros and cons of each. Perhaps take the Investor Knowledge quiz to figure out if there are areas where you would like to learn more.

If you need help deciding what to invest in, speak to a registered financial advisor for advice about the options that work best for your retirement years.

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