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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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]Please don’t get advice from DCUM. You can’t provide enough information here for anyone to get a big picture understanding of your financial situation or have a legitimate assessment of your values to get valid recommendations. I would recommend that you find a fee-only (not fee-based - that’s different and not as neutral) financial advisor and spend the 5-10k necessary to get good advice. Search the XY planning network, or the Garrett Planning Network to find advisors with experience with people  similarly situated as you are. Interview maybe 3 to find someone with experience with people in your situation and look to make sure they actually are listening to you and your concerns. Ask them for samples of how they present their recommendations and consider whether their deliverables make sense to you. Ask whether they help implementing their recommendations if you don’t feel confident doing it on your own.

Also, please spend another 2-4K on estate planning as well. The financial advisor you reach out to may have recommendations for an attorney to work with.[/quote]

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