|
By Jonathan Chevreau
Excerpt from the National Post
FP Money Section
Saturday, September 22, 2001
Suppose that, in the midst of the heartache and pain afflicting
so many this month, fortune smiled on
your family.
A $10,000 windfall -- perhaps a bonus, a lottery prize or an inheritance
from a favourite aunt -- suddenly comes your way. What to do with
it?
We posed this question to a variety of financial advisors, authors,
newsletter publishers and mutual fund analysts after the U.S. stock
exchanges reopened on Monday and plummeted in the wake of the September
11 terrorism.
The answers were as varied as the choice of investments out there.
Capital preservation is the dominant theme, reflecting a rising
if belated acknowledgement of a global bear market. But a few think
now is the perfect time to roll the dice on aggressive growth equity
funds and beaten-down Nasdaq tech stocks.
Here's what experts contacted by FP Money had to say:
Adrian Mastracci of KCM Wealth Management Inc., Vancouver:
- Treat yourself to something special. Splurge on a vacation.
- Share some of the wealth. Do something special and unexpected
for a family member or friend who is less fortunate.
- Invest in yourself - take a course of interest or one to assist
your vocation.
- Consider a charitable contribution for a cause you believe
in.
- Put something in an emergency fund for a rainy day.
- Pay the bills. Pay off the highest-cost loan, mortgage or line
of credit where the interest is not deductible.
- Make your RRSP contributions.
- Get some professional advice for a long-term game plan.
|
