Inheritance money
Hi Terry,
Great article on inflation. I’m 66 years old and still working. I own my house and have savings.
My question is I received about $500,000 from inheritance. Right now it’s an a Citibank savings account Earning basically nothing!
what would your Investment strategy would be for this inheritance money $500,000?
Thanks!
Terry Says
I don’t know your entire picture, so I’d have to defer to a financial planner who you can trust. Find a FEE-ONLY FIDUCIARY planner at www.Wealthramp.com.
I’m assuming that if you’re still working, you aren’t ready to risk investing this money in the stock market. My standard question is “How much are you willing to lose?”
Do have a meeting with a planner –just one to get organized around your eventual retirement.
But, in the meantime, given all the current uncertainty, there’s no reason not to leave $250,000 in the bank — up to the insured limit.
And with the other $250,000 buy U. S. Treasury Bills directly from the government at www.TreasuryDirect.gov.
Here’s an article from a while ago that explains how to do that: https://www.terrysavage.com/buy-treasury-bills-earn/
