What to do with extra income

[topaz_sa]

I need help. This year my company is giving me a Profit Commission of about R171,000 less tax. I now need to know what to do with all this money. It is crazy!! I have never had so much money in my life, its like winning a competition.

Do I pay for my kids school fees in advance, about R90,000. Leaving me with less monthly expenses during the year (about R8,500 per month)

I don't have a mortgage, but we are wanting to do some very expensive renovations, do I put it towards that?

Do I go on an international holiday with my family?

Do I invest the money somewhere?

I am leaning towards paying the school fees in advance so that I can have more money during the month, but I have no idea.

The above amounts are in South African Rands.

Any advise?

[JohnM.Hendricks]

Money investment for improved returns is a good option to invest your extra income.
Some of the best investment options are:
1. Real Estate
2. Art, Antiques, and Collectibles
3. Gold and Silver
4. Wine
5. Peer-to-Peer Lending
6. Treasury Notes
7. Building a CD Ladder
8. Investing in a Small Business
9. Yourself

[WillieGearhart]

No, don't pay your kids fee in advance. Don't take any decision in a hurry so that afterwards you need to regret for that. I think you should save your money in a bank or you can invest it by purchasing some land property or gold.