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.
28:09
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Quick takeaways
- Life insurance is essential for providing financial security to dependents, and affordable policies can be found without complex medical evaluations.
- Managing a significant inheritance requires careful consideration of fees for financial advice, particularly regarding RMDs and tax implications of the assets.
Deep dives
Understanding Life Insurance Needs
Life insurance provides crucial financial protection for families, ensuring that dependents are cared for in the event of an unexpected loss. Policies can start at an affordable rate, allowing individuals to secure substantial coverage without complicated medical exams. This coverage can help meet various financial obligations, such as mortgage payments, ongoing expenses, and education funding. Using resources like Policy Genius simplifies the process of finding suitable life insurance, helping to provide peace of mind for policyholders and their families.
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