What do I do with my inheritance? My dad passed away leaving a small inheritance to my sister and I. Under 100k each. One lump sum life insurance policy and an annuity that will pay every month over the next 28 months.. I am a 33 y.o woman I bought my house in 2012 & refinanced a few years ago to pay off student loans and lower interest rate on my mortgage (3.25%) No major outs…

Student Loan Payoff Options w/Inheritance I have approx 65K student loan debt at 6.5%. Less than 24 months from PSLF. Recently came into inheritance that will allow me to become debt-free. Do you recommend that I: a) Payoff full $65K now OR b) Continue paying monthly for less than 24 months (+/- $12K). PSLF erases remainder. Is it as simple as paying $65K vs $12K? Just want to maximize …

A Roth IRA and an Inheritance walk into a bar… 36 years old. New to investing. I have just started a Roth IRA at Fidelity. (I know, I know…a little late) So, only $6,500 currently. I think I should do some split of FSKAX/FTIHX (Unless you all have a better idea?) in how I choose to invest that. Perhaps 60/40… 80/20? What‘s best? Match the market? I want to make as much as I can to catch up i…

Modest inheritance (30k) that I don’t necessarily need — what would you do in my situation? First of all, I just want to point out I’ve been a longtime lurker here and love this sub! I’ve also read the wiki about windfalls and whatnot. My situation is a little more unique, so I’m curious what you all would do. For context, I’m 37, single, no kids. I’ve been crazy aggressive and currently have about 1.79mil invested with another 81k in …

Best use of inheritance? In the coming months I will be receiving approx $7000-$8000 from my late step-grandfather. I know it’s not that much but it’ll definitely help. As of right now I manage to save just a little bit every month, and hopefully will be more now that I got a raise at work from $20/hr to $22, but I live in Toronto and shit ain’t cheap lol. Right now I h…

Inheritance “paid for the benefit of” ? A relative of mine passed away earlier this year, they never married and never had children of their own (ambiguous pronouns for privacy). In the will, they left a decent sum of money to each of my 4 kids, all of them receiving the same amount. 3 of my kids are 18+, one is still a minor (almost 16). There are no stipulations in the will, the mon…

Grandmother passed but I don’t want the inheritance My grandmother recently passed and I was told that I am receiving a small inheritance from the life insurance. Long story short, there was a lot of family tension over the years. My grandparents had two kids (my father and his sibling) and only our side of the family is receiving anything. I have pretty much cut all financial ties from my immed…

Inheritance taxes vs. gift taxes, I think? I will consult a tax lawyer in the spring, but I’m trying to figure this out now. My dad passed away in May. He wanted to leave my half sister something in the will to prevent her contesting it, which he did, $10K. He left me the same amount for appearances’ sake – he didn’t want her to argue with me. He left my full sister everything and asked …

Inheritance stipulations My mother is working on end of life plans. She’s early 60s, no major issues, this is hopefully a long time away. I am her oldest child and will be the executor of her and her husband’s estates. She is estranged from my sister but doesn’t want to cut her out entirely. The assets are a house, some vehicles, and some retirement accounts, which will…

What to do with inheritance? My father recently died. Between his insurance and 401k and the equity in his house it looks like the inheritable amount will be around a million dollars once it’s moved/sold. I currently make pretty mediocre money (~$50k) and rent an apartment. I’m debt free. My car and student loans are paid off. The issue is this will leave my mother alone. …

SAHM and inheritance? I’m looking for some objective advice regarding an inheritance I’m about to receive from a family estate. My initial plan was to put it in a bank account (in my name only, with husband and kids listed as beneficiaries). I’d draw out funds as needed to use for marital purchases, but the bulk would stay in the account with me as the only owner. My…

What to do with 40k inheritance? Started a decent career late in life, but am pretty decent with money and cheap as hell. I do 401k up to match and maximize Roth IRA. I make about 66k a year in a fairly stable job, no car payment. I have 80k left on a mortgage at 3.25% close to 50 years old. I have about 45k in a vanguard retirement account, and 20k in 401k, and 45k in a Roth…

Smartest way forward with inheritance “Talk to a professional”, I know, I plan to. But, a little background- my dad passed in Jan 22 and the legal things have, within the last few months, finished up. I’m in a DINK household that makes about $105k gross and because of where we live, we’re pretty comfortable and stress free with bills and money. Here’s what I’ve done so far: – $20k f…

Early inheritance, what would be best to do? Good morning, my wife and I got our inheritance early from my family as an investment account. We are 30 with two kids. My wife stays home with the kiddos and I work. I currently make ~$65k but will make x3 that in a couple years. What would be the best thing to do with that money? Keep in in the investment account and let it compound interest …

I just got an inheritance and I have no idea what I am doing. I’m 30M, a wife, 3 kids. I’ve always made less than 50k a year. My current job is a Class-A CDL driver. All my life I have only ever achieved the bare-minimum. Used vehicles, less-than desirable homes, etc. Bottom tier American, low income.. you get the picture. Stuff happened and I’ve just inherited digits that have more than one comma in it. I…

30k inheritance: pay down debt or save? Not sure what to do with 30k inheritance (Yes, I’ve read the Windfall part of the wiki but I was hoping for some specific advice about this not-life changing amount.) TLDR: What would you do with a modest family inheritance: save for something meaningful and invest in the meantime, or use it to pay off debt? I came into 30k after my grandpa pass…

Check my plan for retirement/ managing inheritance. Hello, I am 27 and recently inherited and sold a property and ended up with 150,000 for myself and $106,000 I have to manage for my sister for 7 years before she can access it. For her money I have placed it in the largest guarantee I could find which was a 5% jumbo CD. For 19 months. This should push her to $114,670 before I have to manage the…

Inheritance investment options I’m 45 and make about $60k per year. I have about $300k in retirement accounts, and $70k in stocks. I have always invested about 20% of my income. My partner is 50 and was laid off during Covid. He had no savings and spent the last two years caring for his parents. Both his parents passed away and he inherited about $1 million. The estate is no…

Father’s Inheritance Money I am receiving a check of $950,000. I am 25 making salary of $95,000. I would like some insight as to where I should put this money. It was my fathers inheritance so I do not want to put it into something risky. I want to make sure my money is protected for me and my future kids as well. Any guidance would be really appreciated. submitted by…

Questions about inheritance of home and vehicle – Looking to pay out sister over time. The Rundown: My father passed away on Sunday. Only my sister (31F) and I (29M) are going to be inheriting anything. My sister is married and has one daughter. They currently own a home in the same town and have a $546 monthly mortgage payment on a $130k home ($79k at purchase). So far they’ve paid in about $11k with an $18k down payment. They ha…