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Reply to "How to spend windfall"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you have no needs or desires, give it to charity. This is like asking "what do I do with extra money if I don't need extra money?" If you don't want to donate it, drop it in the taxable account and add to the balance.[/quote] +1 Donate it in your deceased relative’s name. If you spend 30k on vacations per year you’ve really got more than most people in the world.[/quote] +1. You don't have any needs or wants that have not been covered except charity. I would create a Donor Advised Fund (DAF) and add some more money into it. Your DAF might be tax-deductible if you itemize your tax return this year. And then you can donate, say @ $2k or $5k a year in your deceased relative's name. It will be a mitzvah and it will make you feel good inside to boot. [/quote]
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