This chapter delves into the crucial decision-making process of choosing between a lump sum inheritance or periodic payments, highlighting the need to address personal biases and utilize spreadsheets. It also offers insights on managing an inheritance responsibly and offers advice on saving and investing a substantial windfall, with a focus on purchasing a primary residence.
#524: Mark and his partner will soon inherit an IRA worth over a quarter million dollars. With today’s elevated interest rates, would throwing it all at a primary residence be the smartest play?
An anonymous caller and his girlfriend are musicians who dream of building a home with a monetizable recording studio. How do they untangle personal wants from business needs?
Will feels stumped about the options in his defined benefit pension plan. When should he choose a guaranteed annuity over a lump sum payment?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
P.S. Got a question? Leave it at https://affordanything.com/voicemail
For more information, visit the show notes at https://affordanything.com/episode524
Learn more about your ad choices. Visit podcastchoices.com/adchoices