I’m in my 30s and Dad is gifting me $50,000. What should I do with it? |
I’m in my 30s and Dad is gifting me $50,000. What should I do with it?
June 14, 2026 — 5:06am
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I’m in my late 30s with two young children. My partner and I earn good incomes, and we owe around $300,000 on our home. My father has a terminal illness and wants to gift me around $50,000 as an early inheritance. What is the best use of this money? My instinct is to keep it in the mortgage offset account as we’re planning a renovation in the next few years. But am I being too conservative?
Your instinct seems pretty sensible to me given the planned renovations. Clearly super is out given the loss of access until age 60 at least.
You could invest it, but a two-year time frame is not long enough for a share or property investment, and more conservative investments are unlikely to earn a superior after-tax return than your mortgage rate. Parking these monies in your offset will produce a return equivalent to your mortgage rate, with no tax to........