My 18-year-old daughter recently inherited $20,000 from her late grandmother. Ultimately, she will want to put this towards a deposit on a home, but that’s at least five years away and probably considerably more. How should she invest this money in the interim?
Through this experience, she’ll gain a lived experience of her tolerance for risk, which will put her in a great position to navigate her finances for the rest of her life. I know that when I send money to super, it gets taxed by the fund, which makes me wonder whether it’s worth putting any extra in.
The portion of your income above $45,000 is currently taxed at 32.5 per cent, with this falling to 30 per cent from the 1st of July. Medicare is on top of this.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: