By Dene Mackenzie on Thu, 23 Jul 2009
Economic downturn Living smart
Paying off a mortgage and/or any debt should be a priority for anyone inheriting money during the current recession, a panel of experts selected by the Otago Daily Times recommends.
ABN Amro Craigs sharebroker Chris Timms, wealth management adviser Craig Myles, Forsyth Barr sharebroker Peter Young and financial planner Peter Smith were asked by the newspaper to provide some guidance to two selected groups - a family with three children, parents 35 years old, and with a $100,000 mortgage; and a couple aged 55, with children who had left home, and who had three grandchildren.
Each family was assumed to have inherited $350,000.
Economic downturn Living smart
Paying off a mortgage and/or any debt should be a priority for anyone inheriting money during the current recession, a panel of experts selected by the Otago Daily Times recommends.
ABN Amro Craigs sharebroker Chris Timms, wealth management adviser Craig Myles, Forsyth Barr sharebroker Peter Young and financial planner Peter Smith were asked by the newspaper to provide some guidance to two selected groups - a family with three children, parents 35 years old, and with a $100,000 mortgage; and a couple aged 55, with children who had left home, and who had three grandchildren.
Each family was assumed to have inherited $350,000.
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