What Should I Do With an Inheritance?

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By Justin Goodbread. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

In episode 154 of Financially Simple, Justin looks at the various types of Inheritances and how best to handle each. RELATED ARTICLE: https://financiallysimple.com/inherited-money-now/

Receiving an Inheritance from a loved one can be a blessing, or a curse if not dealt with properly. Justin goes over the basics of the types of inheritance one might receive, and gives his own five-point method of how to go about using it.

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BLOG/TRANSCRIPTION:

TIME INDEX:

00:56 - What Should I Do With an Inheritance?

01:32 - Some Trends With Regard to Inheritances

04:56 - Justin’s 5 Point Method

07:27 - A Case Study

08:25 - The Inheritance Mind Map

09:06 - Types of Inheritance

11:39 - Mind Mapping Decisions Based on Your Personal Situation

13:04 - IRA

14:18 - 401k

15:06 - ROTH

16:17 - HSA

16:56 - Life Insurance

18:00 - Real Estate

20:20 - Businesses

21:52 - Non-Qualified Investments

23:10 - Vehicles

23:57 - Wrap Up

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DISCLAIMER:

The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States. Host Justin Goodbread is a serial entrepreneur, CFP (Certified Financial Planner), CEPA (Certified Exit Planning Advisor), CVGA (Certified Value Growth Advisor), Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional.

192 episodes