Most of us dream about receiving an unexpected lump sum.
Whether it comes from an inheritance, a payout, selling assets or simply good fortune, a windfall can open up opportunities that aren’t normally on the table.
But it can also create tough decisions.
Do you pay down the mortgage and reduce debt? Boost your KiwiSaver and focus on retirement? Put the money into savings or investments? Or spend some of it enjoying life now?
Financial advisers often talk about balancing today’s needs with tomorrow’s security, but there’s no one size fits all answer.
