What should I do with an inheritance?
You’ve received an inheritance, or you know one is coming.
And you don’t want to get this wrong.
An inheritance isn’t just money.
It might come with loss, family dynamics or the emotional weight to do right by the person who gave it to you.
At the same time, you’re expected to make smart financial decisions, often without feeling completely sure what the right move actually is.
We help you get clear on what to do next.
Should you pay off the mortgage, invest, or do something else?
This is where most people get stuck.
You might be asking:
Should I pay down the home loan?
Would I be better off investing it?
Should I save it for a rainy day?
Can I use some of it to enjoy life now without making a bad financial move?
None of those questions has a one-size-fits-all answer.
The best option depends on your mortgage, your tax position, your goals, your stage of life, and what you want this money to make possible.
That’s why making a call based on a rule of thumb, a family opinion, or a quick internet search can leave you second-guessing it later.
You don’t need to rush the decision
Most inheritances do not need an immediate plan.
In fact, rushing can create the very regret you are trying to avoid.
Some people leave the money sitting in cash for years because they feel unsure. Others make one big move quickly, like paying off debt or investing the lot, without seeing how it fits into the bigger picture.
A better first step is to pause, look at your full financial position, and understand your options before anything is locked in.
How we help you make a confident decision
We start with your whole financial picture, not just the inheritance.
That includes your mortgage and other debts, savings and cash flow, super, investments, tax considerations and plans for the next 5, 10 and 20 years
Then we model different paths so you can see how each option may play out over time.
The goal isn’t to make the “most financially impressive” choice on paper. It’s to make a smart, considered choice that fits your life and helps you feel at peace with the decision.
For example:
What happens if you took that trip you’ve always dreamed of?
What changes if you pay down the mortgage?
What if you invest some or all of it?
Could extra super contributions improve your long-term position?
Is there a way to reduce financial pressure now while still building future wealth?
When you can compare the options properly, the right next step becomes much clearer.
Financial advice without a product agenda
When a lump sum is involved, it is fair to be cautious about who you ask for advice.
You do not want to feel pushed into a product, a platform, or a strategy that suits someone else more than it suits you.
Guidance Financial Services does not have in-house investment products to sell. Our job is purely to help you understand your options and build a plan based on what puts you in a stronger position over time.
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5 Star rating on Google
★★★★★ 5 Star rating on Google
What Our Clients Say
“As financial illiterates, Paul helped us understand what seemed like a daunting subject. With Paul’s guidance we now feel positive about our financial future and security. It’s like a weight has been lifted.”
— Kylie Anderson“A thoroughly professional and engaging experience. Paul Benson’s service and advice is outstanding and trusted. I have the highest regard for him and the company. Would be happy to recommend.”
— Anne Astin
“We felt the advice given to us was tailored to our circumstances and took into account our preferences. Good communication throughout.”
— Alan Pham
Read More About Inheritances
Common questions we get about inheritances
Still have questions? Take a look at the FAQ or reach out anytime. If you’re feeling ready, go ahead and book your appointment.
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The first step is understanding your life goals and full financial position before making a decision. What you do next depends on how the inheritance fits into your broader plan. This is exactly what we can help you with.
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In many cases, there’s no urgency. Taking the time to get clear and look at all your options tends to lead to better outcomes than rushing into a decision.
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Australia doesn’t have inheritance tax. Tax can come into play depending on what you do with the money, particularly with investments and super.
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It depends on your situation. Both can make sense. The right decision comes from understanding the trade-offs and how each option affects your long term position. That’s what we help you work out.