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Started By
Message
re: I just came into some money.
Posted on 7/19/24 at 11:40 am to BassMaster318
Posted on 7/19/24 at 11:40 am to BassMaster318
quote:
BassMaster318
No one knows you here and definitely are not acting as fiduciaries so take any advice with a grain of salt so be prudent and good luck.
0
Posted on 7/19/24 at 11:53 am to BassMaster318
Sorry for your loss, but to throw something out there to also consider
If your plan is to invest the money and let it grow for you, it will be prudent to also look into making sure you don’t cash out investment accounts right away for the sake of cashing them out. Some accounts (I’m familiar with inherited IRAs, but I’m sure there are others) will allow you to withdraw the funds over 5-10 years. Since you know what your salary is now, you could consider splitting these amounts by only withdrawing the funds to just before the next tax bracket.
Whoever is distributing the funds should be able to help guide you on the process if you don’t want to put specifics on this board
quote:
make an average salary and have managed to make it to my 30's with no debt. My grandfather passed and left myself and some siblings an inheritance. After tax I am looking at about 200k.
If your plan is to invest the money and let it grow for you, it will be prudent to also look into making sure you don’t cash out investment accounts right away for the sake of cashing them out. Some accounts (I’m familiar with inherited IRAs, but I’m sure there are others) will allow you to withdraw the funds over 5-10 years. Since you know what your salary is now, you could consider splitting these amounts by only withdrawing the funds to just before the next tax bracket.
Whoever is distributing the funds should be able to help guide you on the process if you don’t want to put specifics on this board
Posted on 7/19/24 at 12:59 pm to La Place Mike
quote:
Can you guarantee that?
Of course he can't but over a 10 year period VOO and VTI are pretty solid bets.
Posted on 7/19/24 at 4:49 pm to KTiger85
or just put it on TSLA and it will double by end of the year or next year
Posted on 7/19/24 at 8:39 pm to LSUSLU106
VOO- 50%
VSELX-30%
Actual BTC - 20%
Set it and forget it. Keep putting away your 401K monies into a Roth and 10 years from now you will be astonished at the money you have acquired.
VSELX-30%
Actual BTC - 20%
Set it and forget it. Keep putting away your 401K monies into a Roth and 10 years from now you will be astonished at the money you have acquired.
Posted on 7/19/24 at 9:56 pm to wareagle7298
quote:
Probably wouldn't be a bad idea to diversify in some way.
You mean like investing in the 500 largest publicly traded companies in the US?
Posted on 7/21/24 at 6:45 am to BassMaster318
quote:
in an apartment
With that amount of cash you need to buy a property to live in, at least use part for a down payment.
You could probably get your loan payment around the same as rent, but you will be building equity.
Posted on 7/21/24 at 7:07 am to BassMaster318
quote:
After tax I am looking at about 200k. I live an affordable lifestyle in an apartment
Invest in a house.
Posted on 7/21/24 at 7:12 am to BassMaster318
quote:
After tax I am looking at about 200k.
What tax is on inheritance?
Posted on 7/21/24 at 3:52 pm to East Coast Band
Put it all on MSTR
Posted on 7/21/24 at 6:31 pm to BassMaster318
quote:
I make an average salary and have managed to make it to my 30's with no debt. My grandfather passed and left myself and some siblings an inheritance. After tax I am looking at about 200k. I live an affordable lifestyle in an apartment and do not plan on any major purchases in the near future. Would it be an awful idea to put the entire amount in the S&P 500 ETF and not look at it for 10 years?
While I would generally be a major proponent of putting it in a broad index fund, do you live somewhere you plan to live long term? If it makes any sense, I would have a hard time not using this windfall to get on the home ownership train.
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