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A regular listener of Bruce Whitfield’s The Money Show inherited R550 000 at the start of 2016.

He’s taken the time to cool off; he’s not reacting emotionally.

Whitfield asked Galileo Capital Personal Financial Advisor Warren Ingram to assist the listener on the best ways to handle an inheritance.

Listen to Ingram’s advice in the audio below (and/or scroll down for quotes from it).

You need to be debt free... then you need an emergency fund of three to six months' expenses... For someone in his position; I’d suggest having 12 months’ expenses…

Warren Ingram, Galileo Capital

He needs to decide how much to have in local and international markets.

Warren Ingram, Galileo Capital

Everyone should ‘Rand Cost Average’ instead of putting it all into an investment of your choice in one shot. You spread the investment over a number of months, averaging the cost of what you bought.

Warren Ingram, Galileo Capital

Getting a good international exposure makes sense…

Warren Ingram, Galileo Capital

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This article first appeared on 702 : How to best invest a financial windfall (e.g. an inheritance)

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