I’m 67 and on the pension. How do I leave my kids a good inheritance?

August 2, 2026 — 5:05am

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I’m 67, on the age pension, and still have a $60,000 mortgage. After years on the disability support pension, I now do casual work when I’m able. My daughter fled a violent relationship and has very limited financial resources, so I’d like to leave something for her and my two grandchildren.

With only modest means, what is the best way to build a small financial legacy? Would investing regularly in shares be sensible, and if so, what types of shares should I consider? Also, is it still possible to take out affordable life insurance at my age, and would that be a worthwhile strategy?

Your daughter and grandkids are lucky to have you. Life insurance would be expensive at 67, so I wouldn’t suggest going down that path. Insurance companies aren’t charitable organisations after all.

There are investment solutions that enable you to add $100 per month, so........

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