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@zvikisum Yes, many others have mentioned that this is cash-heavy (or almost exclusively). We've come to the conclusion that we should rather assess the real need for cash with a budget then go from there to allocate the rest to other avenues for better balance between short-, medium-, and...

@sdb Thank you @sdb. We will definitely do some reading on these as well.

@patriciusv Hi. I'd need to read up on this more as I'm not learned on tax outside the Republic. I'm hesitant to become his de facto 'financial advisor.' I've seen this mentioned in this sub so I'll go through those posts to find my bearings about it. He'd also need to figure out the tax effects...

@autisticchristianknight I can't allow or prohibit him from making certain decisions with his money. I'm not trying to control him or become his financial advisor. He's a grown-up after all. I would just like to guide him in the right direction but reckless spending is indeed a concern...

@prarierose91 Hello. Yes that is a compelling. He is still beginning with financial literacy and how to budget, save, invest etc. for the first-time. He's finding it overwhelming with all the financial terms and jargon and I can see the anxiety it's causing. He's not quite comfortable with...

@faith4l Thank you for taking the time to write back. Your response gave us many things to consider especially the tunnel vision towards the short-term only. Another thing that we found valuable as you mentioned is to draw up his budget (including costs covered by his parents) so he can get used...

My (26M) cousin (22M) was awarded a settlement of just over R1m in cash (post-tax). I thought it prudent to check our ignorance here before he commits to anything, although I have advised him to consult a CFP® (please recommend one) and tax adviser/practitioner. BACKGROUND He is currently a...