Reply to I'm a poor who is about to receive an inheritance: please tell me what to do with it

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Agree with PP.  We need a few more details to help (like your age, income, debt, kids, ages).  But generally to make this money last your whole life:

-Pay off all debt more than 4% (other than maybe a mortgage)
-Max out retirement accounts from now until retirement
-Establish an emergency fund in a high yield savings account for 6 months of expenses.
-Put 4k in 529 per year for college (max for DC tax deduction) and set aside $4k for next
-Put 10K in ibonds this year and set aside for next
-Maybe put an amount you never want to gamble in high yielding CDs.
-Set aside $10K for vacations (5K this year and next)!
-Put the rest in brokerage in Vanguard (but may go down)

[/quote]

I am in your shoes and am also expecting an inheritance.

Look into Vanguard. I just called them yesterday. They have the lowest fees and best performance of investment funds in the industry.

Pay off high credit card debt.

How is the condition of your car? I'd also pay off your car.[/quote]

Does this mean a Vanguard index fund?  Thank you.[/quote]

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