Is it a good idea to put balance into a money market call account in order to get a monthly income?
07 March 2022
Question by Robert
I am 78 I have R 6 mill thinking to invest R3 mill. I would like a
monthly income. I was thinking to put balance into a money market call account. What’s your advice?
Answered by Bodie Dove
Thank you for your question.
I would need to have much better understanding of your overall position before I could provide you with advice on the various options available. However to help provide you with some guidance you may wish to consider the following:
What level of income do you require from your investment?
What level of access do you need to your capital?
Do you want to investment to hold assets in stocks and shares?
What is the total value of your estate?
What IHT allowances do you have?
Do you want to leave any benefits to family, friends etc from your estate?
We offer a range of investment solutions including:
EIS, VCT & ITS
For Estate planning we can provide advice utilising:
We can also provide you with Private Banking Facilities giving you access to market-leading and exclusive deposit rates, helping you to maximise your interest income, consolidated statements and an annual interest summary for your tax return. This is achieved through an extensive panel of more than 40 banks including five of the UK’s biggest high street brands.
I'm sorry that this doesn't provide you with a simple answer to your question but I would be more than happy to have a conversation with you to go through your current circumstances and your exact requirements, goals and objectives to tailor my advice accordingly.
Please feel free to contact me on 07507443388 or firstname.lastname@example.org
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