Reply to 3 million inheritance. What should this affect things

Forum Index » Money and Finances

Reply to "3 million inheritance. What should this affect things"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]I'm anon from 5:41.

I would NOT listen to the people saying you should still max out your 401k at this point. I wouldn't stop 401k all together, but you should put just enough in that you get your employer's matching, but don't put in much more. You have $3M to invest. Get a wealth advisor now; they will put it in a well-diversified portfolio, and it should double every 10 years. This is just standard market return calculations by the experts. Along the way, you can have the portfolio pay you a monthly amount. You're 35 years old so when you're 55, it will be $12M. Why would you max a 401k and let the government tell you when you can take the money out. You'd have to wait 10 more years to touch that money or face steep gov't penalties. It's a silly place to put your money if you may retire in your early to mid 50s. Live well NOW (I'm not saying imprudently). Life won't be as fun when you're old and decrepit.

A similar thing happened to me, so I speak from experience. I received $1.5M (now it's $1.8M) at age 38 and the above is basically what I'm doing, and after long meetings with my financial advisor, he said it's easily obtainable, and my plan includes private for my preschool age girl (only child). [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics