Inheritance – where should we invest the money
Hi Terry,
My husband & I will acquire approximately $100,000 + soon through an inheritance. We are 70 and have a small Roth account and the majority of our retirement in a 401K.
Given the current financial instability, we do not know where we should invest this income: Money Market Mutual Fund, T-Bill or?
Please assist!
Thank you,
Terry Says
This is truly a windfall, and I’m sure you have no desire to risk it at this stage of life. Knowing you have a 40l(k) account which is likely invested in mutual funds, I’d definitely recommend T-bills for this money. REad this: https://www.terrysavage.com/t-bills-beat-cds-2/
And might I suggest you read this following article. You are retired, need to be more conservative, and might consider doing a direct rollover of your 40l(k) to an IRA at Fidelity or Vanguard, where you will have a wider choice of less aggressive mutual funds than are typically provided in a corporate retirement plan designed for young workers to grow their money.
https://www.terrysavage.com/rollover-now/
