Jill on Money with Jill Schlesinger Time to Bring Assets Under Management?
Dec 16, 2024
Discover essential tips for handling a sudden inheritance, particularly regarding inherited IRAs and tax implications. The discussion focuses on the balance between enjoying newfound wealth and the need for prudent planning. Learn about managing assets over short timeframes and the benefits of professional guidance. In addition, the importance of charitable contributions to honor loved ones is highlighted. Plus, find out how life insurance can provide security during the holiday season.
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When to Hire a Financial Advisor
- Therese, who recently received a large inheritance, asks Jill Schlesinger when to hire a financial advisor.
- She wants advice on managing the inherited assets, including inherited IRAs and RMDs.
Prioritize Your Well-being
- Jill Schlesinger advises Therese to prioritize her own financial well-being.
- She emphasizes that Therese has enough money to enjoy life more, like traveling, without worry.
Consolidate Inherited IRAs
- Jill advises Therese to consolidate her inherited IRAs into a single account at Vanguard.
- This simplifies management and allows for easier allocation to ETFs.