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Thread: Inheritance Question

  1. #1

    Inheritance Question

    I recently inherited about $90k and am not sure what to do with it now. Any suggestions?

  2. #2
    I see you asked the same question on another forum a week ago and you didn't receive any responses.
    I'd payoff that $90k of credit card debt at 21%.
    What? You don't have $90k of debt?
    Then go on an around the world cruise.
    You get seasick? Oh brother.
    Then send it to me, my address is...
    Do you see where I'm going with this? No one can make suggestions when the only thing we know about you and your situation is that your name is bj86cz3 and you suddenly have $90k sitting around.
    What do you need this money to do for you?

  3. #3
    The first question to ask yourself is this: What is your goal with this money?
    Is it: 1) Maximize returns
    or
    2) I better not lose a penny of this money, or my ____(Dad)____ will be rolling over in his grave!!

    These goals require different investments and investing approaches.
    BTW most people have goal #2 as their key driver for inheritances.

  4. #4
    First I would up my 401k contribution at work and at the same time contribute the max to a Roth IRA and oh yea...keep working at your job till you are eligible to retire. Maybe 62 in your case.

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