Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
Dian
What would you do with a large inheritance???
To reintroduce myself, I occasionally posted on FundAlarm. I have tried to follow the MFO discussion board, however, being the eldest child and niece of many ‘senior’ seniors took much of my time. The last of that generation recently passed. I may soon have time for myself.
So herein lies my concern. I knew I would receive an eventual distribution and will within a few months. Since learning the hard way many years ago and ‘investing’ money with a financial ‘salesperson’, I learned to take care of my own financial investments. The majority of our assets are in IRA rollovers; I am pleased with them. My husband started collecting his RMD’s this year; I will in two years. Our emergency fund is covered. The inheritance isn’t money I need.
Herein is where I am asking for your thoughts as I make a decision on investing a large sum. The ‘salesman’ where most of the funds are coming from ‘told me’ years ago he
Thanks hawley. I will print this article so I can read-study further. RE: the boat - advice too late, but thanks anyway. Just put $1200 into the boat because the ignition stuck and burned out the starter. My sister said the happiest day of her li…
Reply to @catch22:
Very interesting, catch. Paul's my rep in WI - has been for 14 yr. I see he banks at a small bank that was established in his (our) district - Johnson Bank. He shares many funds/investments that many of us do. Artisan is loca…
Thank you, david. I feel very comfortable managing a basket of funds that meet my objective. It's either I identify and manage/rebalance, etc. these investments or I involve a fee only CFP. The insurance 'salesman' has been shown the exit; the ba…
Yup, Hank! Education-education-education, with guidance from MFO, and a direct 'no'. Actually, maybe more than one 'no' is needed. LOL
Thank you, BobC. I will email you within the week. Your willingness to assist me is very much appreciated!
Opps - sorry, BobC. I will ask my attorney to recommend a fee only - NOT fee based CFP. Typing faster than I'm thinking.
I called the insurance salesman for an appointment to sign the papers. He asked if I could meet Wednesday. I told him we di…
Thank you Old Joe and BobC! Yes, unfortunately the insurance salesman is still in the picture. My estate-trust attorney provided him the EIN last week and left a message for him to call me to sign the papers that will initiate the transfer of fund…
Bull - thank you for sharing these funds with me. I am proud to say I do have many of them in our IRA Rollover account. I will look into those that I don't have.
Hank - I will take it slow. And, yes, I definitely will stay within my comfort level…
Thank you, johnN, catch, msf, claimui, AJ, and Mark. I really appreciate all your thoughts and advice. Yes, I have a lot to sort out. I have actively managed our IRA's - etc. for quite some time. These new taxable $'s become a new experience for…
Hiyield007 - thank you, and exactly my reason for reaching out so I can sort out the many options. I have experienced my share of very biased advice. There is plenty of that out there, I know from experience. My problem is finding someone who car…
Yup, Bull, hear you. In '87 after selling a rental property, a phone call comes from a 'financial advisor'. Obviously a public document showed this sale, and that is how he found us. We agreed to meet - very foolish of me - but then again, the po…
Hello Scott RE: Munis - I do think about the cities heading for bankruptcy. But, that shows my ignorance in this area, because not all munis hold that debt. There are many high flyers out there, but for how long? Wells Fargo has an Advantage Mun…
Hello Max, and thank you - Been following your postings for quite some time. The $ amount is just over 1m; small to many - large to many. No debt here, preservation is the key. I do see muni-bonds as part of the package, and receiving dividends …
Just received your edit, Bull, and Mark's response. I don't plan to invest these $'s with my bank, but they sure want to talk with me. I thought maybe I would just listen to their 'financial planner' and maybe FWIW just take his proposal to the CF…
Thanks - Bull. I have always done the money management in this family, too. No, not enough $'s to be drinking margaritas from my yacht - drinking Miller Lite from my pontoon is more like it, and that is fine. I know $ amounts are sensitive on thi…
Thank you, Scott. You were there for me back on FA, and I still hold some of your recommendations in an IRA. My posted was getting long; I should have included no debt, LTC purchased long ago (excellent policy), have a second home - mostly escape …
