Reply to All you rich folks - looks like I'm (almost) one of you. What should we do?

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Reply to "All you rich folks - looks like I'm (almost) one of you. What should we do?"

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[quote=Anonymous][quote=Anonymous]As some advisers would say, you have downside and upside to think about. First the downside:

1. Make sure that you have enough life insurance
2. Consider putting at least a basic will in place. You might need more than that in light of your increased amount of assets, but you should have at least something basic in place. My husband and I went to Anthony Carducci (888-628-2220 or call him on his cell at 410-693-7323). He explained all of our options to us and let us decide what we wanted to do. We never felt pressured into making a decision. He also worked around our busy schedule by coming to our house on a Saturday.
3. I am not sure how old you are, but if you are in your 40s or older you might consider a long-term care insurance rider to your insurance plan.

Your upside:

1. You want to try to grow these assets without taking a ton of risk. Talk to a good financial adviser. Call James Dunn (703-394-1913) or you could call Chris Brown at 202-364-1671. Both are a good guys and will steer you on the right path.
2. Consider putting a plan in place to take care of your kids education. That might be a 529 plan or something else that allows you to handle those costs at the time.
3. Talk to a good accountant about any tax ramifications of this inheritance (Call Chick Becker at 301-941-8090).[/quote]

Nice try, Anthony! You seem to be very desperate to have to fish for clients on DCUM.[/quote]

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