Let’s talk! BR area financial advisor-

Honestly, there are some of the best minds right here on this board and we are free.

You can do this yourself here if you let us know more information such as:

Your age, married/kids? If kids, their rough ages and are they already funded for college if you plan to pay? 529’s? HSA’s? How’s your retirement funding situation? Roth/traditionals and are they funded? Do you need this money in the near term? Risk tolerance? How’s your life insurance situation?.......... if you are willing to share some information I’m sure we can either point you in the right direction or help you do this yourself.


ETA: sorry for your recent loss

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Your age, married/kids? If kids, their rough ages and are they already funded for college if you plan to pay? 529’s? HSA’s? How’s your retirement funding situation? Roth/traditionals and are they funded? Do you need this money in the near term? Risk tolerance? How’s your life insurance situation?.......... if you are willing to share some information I’m sure we can either point you in the right direction or help you do this yourself.

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Thanks - my situation is very clean and boring.
My understanding of a inherited IRA is variable withdrawal scenarios w/o a 10% early withdrawal penalty. Essentially I’m late middle age without debt and no cash needs. Kids are adults, educated and I already funded their college. Plenty of life insurance in place. So, my question is essentially is tax me now or tax me later? I guess....willing to listen to advice.

You will be required to take a certain amount out every year based on age and previous 12/31 balance. This will be income taxable but no early withdrawal penalty.

ETA: what exact kind of info are you looking for?

I can speak face to face with you. Please wire me 250k.

Full disclosure, I'm in the industry.

Here are a few suggestions:

1) Look for a team of advisors. Why? What happens if "your guy" gets hit by the bus? Also 2+ heads are always better than one.

2) Look for experience and multiple designations in areas of planning, wealth management, trusts and estates, etc. CFP likely being the most important for what you are looking for.

3)Look for a fee only advisor. It puts the client and advisor on the same side of the table. They aren't trying to sell you something or generate trades in your accounts. The only way they grow, is by growing your assets.

Best of luck!

You are required to take distributions every year based on the 12/31 value of the account and your age in the current year (using the single life expectancy table). You can take more without a penalty, but you have to take the minimum each year.

Interview at least 3 different advisors based on recommendations. They should first determine your risk tolerance (whether you are aggressive, conservative, or in between) and ask you about your goals for the money. If they pitch investments before asking you a bunch of questions first, move along. If they talk more about themselves than about you and what you want to accomplish, move along.

Shocking.

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He's a New York life insurance agent, heavy on indexed annuities,

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Umm...

<-------- @gmail if you have more questions.