What should I do with the Capital Group American Funds left to me, I’m 56 years old
Hi Terry,
My parents left me 120,000. in American Funds, I haven’t done anything with the money since they passed. I’m 56 what if anything should I do with this money?
Terry Says
Well, a lot depends on your personal circumstances, income, spending, retirement planning etc. This is where you need a financial planner you can trust. Find a Fiduciary Certified Financial Planner at Wealthramp.com.
There is one thing you need to know; Your “cost” basis for this investment is the price at the date of their death. So contact the fund company and get the valuation of the fund, or several funds, the entire account as of the date of your parents’ death. That could impact your decision, because depending on how long you’ve held the funds since their death you may have long-term capital gains. A Fiduciary (puts your interest first) CFP can help you with all these details.
