Small inheritance – what to do with it?
I will be receiving an inheritance of about $13,000 in the next few days.
I am 81 years old, single, and I live comfortably enough on social security and a managed investment account which amounts to just under $45,000 a year.
The disbursement will be sent directly to my checking account because I don’t know what else to do with it. Is there a savings account or bank or other option for this unplanned money that I should consider? Thank you!
Terry Says
Read this: https://www.terrysavage.com/t-bills-beat-cds/
That’s your alternative for at least part of the money — money you can put away for 13 or 26 weeks. It’s easy to open an account. And then set it up for automatic renewals at maturity. Safest thing there is.
