“I’ve got $1 million in the bank, what do I do with it?” Mailbag episode

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Making Cents

Frances Cook

190 episodes

1 day ago

The podcast for people who want financial freedom, without giving up their coffee. That means it's time to make the money world make cents. Join Frances Cook, best-selling author and award-winning journalist, to talk about the proven ways to invest your way to financial independence, buy your first home, or just get your spending under control. Every Monday we have the week's feature interview, with someone who's done something interesting with their money. From paying off a mountain of debt, or investing for financial independence, or starting a new business, these are the ordinary people making the extraordinary possible. On Thursday we have Ask the Experts, where industry insiders answer your questions on the money world. From earning more in your career, to investing, or sticking to a budget, they'll help make money simple. Every now and then you'll get a bonus episode too, but the fun of those is that you never know when they're coming!

All content for Making Cents is the property of Frances Cook and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

“I’ve got $1 million in the bank, what do I do with it?” Mailbag episode

Making Cents

16 minutes 36 seconds

2 weeks ago

“I’ve got $1 million in the bank, what do I do with it?” Mailbag episode

Hitting the milestone of $1 million in the bank should feel like financial freedom, but for many people approaching retirement, it’s the moment where the fear kicks in.

When a term deposit matures and you’re suddenly responsible for a seven-figure lump sum, the pressure to “not mess it up” can feel overwhelming.

That’s exactly the situation in today’s Ask the Experts episode. Our listener is 59, single, mortgage-free, and ready to retire soon, but unsure what to do with the $1 million they’ve worked their whole life to save.

EnableMe strategic coach Katie Wesney joins me to break it all down:

how to invest a $1 million lump sum safely
cash vs managed funds vs shares in retirement
how long a million dollars really lasts
how to structure money into short-, medium-, and long-term “buckets”
and why doing nothing can sometimes be the biggest risk of all

If you have a letter you’d like us to answer, please send it through to ask@francescook.co.nz and you might feature on our next episode!

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This podcast was filmed and produced by Fanaticals

Video editing & content production by Lana Byrne

Audio engineering by Tash Chittock

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