Don't let a lump sum sit in the wrong place. So how should you use it?
Save it, invest it, pay off debt, put it in super, or spend it? Jess asks Financial Adviser Tom Hayes from Shadforth to run the numbers on every option.
By the end of this episode, you'll know the trade-offs of each, and how to choose what fits your goals.
Chapters:
00:00:00 What To Do With A Lump Sum
00:04:16 Where Your Money Came From
00:06:56 Building An Emergency Fund
00:11:53 Paying Down Debt
00:14:00 Superannuation And Tax Benefits
00:18:45 Investing Outside Super
00:24:21 Lump Sum Or Dollar Cost Averaging
00:27:01 Making The Right Choice
Links mentioned in this episode:
Check out the previous episode on offset accounts here
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Thanks to MLC for sponsoring this series and helping keep our content free.
If you’re the type of person who spends weekends comparing ETF’s, keeps an eye on crypto, and never misses an episode of Equity Mates, here’s one investment you may be overlooking – your super.
MLC knows it might not seem as exciting as picking your next investment, but thanks to tax advantages and decades of compound growth, it could end up being one of the hardest working investments you own. See how your super could be working harder with MLC at mlc.com.au
Disclaimer: Products issued by NULIS Nominees (Australia) Ltd as trustee of MLC Super Fund. General information only. Read the PDS & TMD available at mlc.com.au and consider if it’s right for you.
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In the spirit of reconciliation, Equity Mates Media and the hosts of Get Started Investing acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.
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Get Started Investing is a product of Equity Mates Media.
This podcast is intended for education and entertainment purposes only. Any advice is general advice, and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If you are unsure, please speak to a financial professional. The hosts of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares group but maintains editorial independence.
Equity Mates Media operates under Australian Financial Services Licence 540697.
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