In the past four months I’ve inherited half of my mothers estate. To keep it simple I was given a financial portfolio worth $185,000, after selling her home I assume I will receive another 75-100k.
I have a very low amount of credit card debt ($5,500) and have no student loans to pay.
I’m currently 34, college educated and employed as a History teacher at a small charter school. My current salary is around $53,000.
So here is my questions
Should I keep all the $185k invested with the same broker?
What should I do from the income that will be available after selling her home?
Should I continue to work or should I do what I’ve always wanted and travel for a couple of months and then go back to teaching?
If I was to buy a new car should I finance a part of it or pay cash?
I also have a side hustle selling antique and books, should I maybe invest into that?
[https://www.reddit.com/r/personalfinance/wiki/windfall](https://www.reddit.com/r/personalfinance/wiki/windfall)
If I was you I’d keep it simple. Take the entire portfolio and transfer it into a brokerage account somewhere like fidelity. Then I’d invest every dime of it into either a target date retirement fund like “Freedom Fund 2055” or into a regular total market index fund like VTI or FZROX. Let it sit and your future self will thank you.
Just remember the more that is invested the more your return will be.
take a good hard look at the financial portfolio and find which provide dividends. keep the dividend ones sell the others for a good price and reinvest in other dividend yielding stocks, pay off any debt and take about 5% as a fun money.
you could sell the home or simply rent it out choice is yours.
any and all income from said financials should look into reinvesting them. take some profits each year as fun money and reinvest the rest. compound interest is a hell of a thing.
end of the day find what works for you and helps beat inflation while still giving you ability to enjoy what you have, money is a tool after all.
lastly im sorry for your loss
I would take some of it and do what you want (ie. vacation) then keep the rest invested.
Also sorry for your loss.
If part of her portfolio is in an IRA, you’ll want to be aware of the rules around an inherited IRA. If money and investing is not your thing, don’t be afraid to work with a certified financial planner (CFP) who will be a fiduciary and have your best financial interest in mind based on the financial goals you discuss.
>Should I keep all the $185k invested with the same broker?
Recommend Vanguard, Fidelity or Schwab. Great products at low ERs.
>What should I do from the income that will be available after selling her home?
You can invest it.
>hould I continue to work or should I do what I’ve always wanted and travel for a couple of months and then go back to teaching?
That’s your call…
>f I was to buy a new car should I finance a part of it or pay cash?
Depends on if you can get a really good rate or not.
>I also have a side hustle selling antique and books, should I maybe invest into that?
Um…Total stock index funds FTW.
[https://www.bogleheads.org/wiki/Three-fund_portfolio](https://www.bogleheads.org/wiki/Three-fund_portfolio)
[https://www.bogleheads.org/wiki/Tax-efficient_fund_placement](https://www.bogleheads.org/wiki/Tax-efficient_fund_placement)
https://www.reddit.com/r/personalfinance/wiki/commontopics
Sorry for the loss of your mother.
Take a long vacay because Americans never get that chance most of the time.
+1 for reinvest but I would look at other brokers, when we were helping my in laws with building a trust the broker he had was charging a large fee and we decided to switch to another.
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