The Importance of Long Term Savings

Whether you receive an inheritance or win the lottery, they can both be treated like receiving new income. Katie and Henah chat through what they would do with a big lump sum, including paying off debts, investing in experiences and companies, and if Katie would continue to rent. 👀

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

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Mentioned in the Episode

• Inheritance taxes: https://turbotax.intuit.com/tax-tips/estates/what-are-inheritance-taxes/L93IUc3sC
• Estate taxes: https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
• Treading lightly on unexpected income: https://podcast.moneywithkatie.com/how-to-deal-with-unexpected-expenses/

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