Ask Terry Questions Getting inherited money invested

Getting inherited money invested

By Terry Savage on April 05, 2019 | Financial Planning / Retirement

I am 52 yrs. old and just inherited $600,000 plus some monthly income for 9 yrs. of around $6,200. Any suggestions on how this should be invested? Don’t have a “career “, but will probably work a 12.00-15.00 per hr. job. I have a special needs son, 29 yrs. receiving disability living with me. Thank you.

Terry Says

OK, hat a windfall! But don’t be in a rush to “invest” it.  Instead, put it in the safest place — U.S. government Treasury bills.  Please read this article on how to buy them.  Cyrrently you’ll earn about 2.5 percent for six months.  That will give you time to do some planning.  The first concern is any impact on your son’s disability payments — or other programs that he might benefit from if he has no assets.  You can get good financial planning advice on setting up a trust for him at  They specialize in financial planning needs for disabled children and adults.

OK, then when you’ve done this, take a breath.  All is ok.  And I will recommend a FIDUCIARY certified financial planner if you will write back and let me know where you live.  It’s time to plan the rest of your life.  In the meantime your money is in the safest place.  Don’t let anyone talk you into anything else!!

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