quote:

Read Joel9507's wisdom carefully. But also understand that an Inherited IRA is not without consequences. The most significant of which are the yearly RMDs (Required Minimum Distribution, an age-dependent forced withdrawal) that start the year after it is established, and is added to your annual income thereby increasing your tax liability. If you are under 70 1/2, you can plow that distribution right back into a traditional IRA and push the taxes down the road a bit, perhaps even leaving the residue to your heirs and making it their problem.

The SECURE Act changed some of the Inherited IRA rules. You may have to distribute the assets in no more than 10 years. As many have stated, seek competent financial advice sooner, rather than later.

Yep. You were happy and now you have money and the problems begin. Good luck.

Mary Ellen for the WIN!

https://www.meminvestmentresearch.com/about-us/

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Exchange Traded Fund (ETF).

Not sure exactly how it differs from a mutual fund, but they are probably cousins of some kind. I tend to stay away from that sort of thing, so I’ve never bothered to figure out the nuances.

It is similar to, but not exactly like the difference between OTC (over the counter) stock shares and exchange-listed shares.

Nominally, mutuals always have a share price of $1, and as their value grows, you get more shares. ETF's change the share price as the value grows. Fees are calculated and taken in different ways too.

From the POV (Point of View) of the individual investor there is little to differentiate one from the other if the underlying mix of investments and net fees are equivalent. A mutual fund is not inherently better or worse than an ETF.

There may be some differences in liquidity, it amy be a little easier to find a buyer for an ETF in a panic situation than a mutual, but that is a poor reason to pick one over the other, and I don't believe this theory has been tested much in the market.

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Originally posted by jimmy123x:
I'd recommend finding a good financial planner. I would want some of it in mutual funds or other items that follow the market......perhaps 30%/70% safe at your age. The problem is, nothing 100% safe (cd's, bonds, etc.) are paying anything worth a damn right now.

This. I would only add the i would find a fee only certified financial planner (CFP) to address your needs and goals.

Vanguard.

https://investor.vanguard.com/...nal-advisor-services

Have had investment accounts there for 20+ years.

They will get you squared away.

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Goose, Vanguard is good to use. I would assume, maybe incorrectly that at your age and figuring combined with SS this is going to be your income in retirement. Preservation will be important. Set up an account with them. I would personally divide your monies between three to five different funds. Not necessarily evenly.

Imho finding a good financial planner is good for the financial planner. Bag that idea.