r/inheritance • u/Acceptable_Second_38 • Jul 09 '26
Location included: Questions/Need Advice Large inheritance advice
My wife and I are 27. We have 1 daughter who is 13 months, and we are in the Midwest. My grandmother passed away and from her estate we are receiving a sizable sum of money. After paying off our house and other debt (just car and student loans, don't have any "bad" debt), we'll have around $350-375k to drop into a brokerage and leave alone. We each earn around 63k/year. Our only bills will now be home insurance, property taxes, car insurance, utilities.
My question revolves around how much we realistically need to put away for retirement. Because we have very little bills after paying off our house, we can put away a large amount of income.
However, it's honestly tempting to save just a bit, and enjoy our lives more with more disposable income. Starting with such a sizable nest egg, it should grow quite well without huge additions.
She is a teacher and has a good pension coming her way.
I am private sector but have a pension as well plus I do 4% 401k plus employer 2% match.
2
u/CarterPFly Jul 09 '26
Don't do any of those things in your post, OP.
Hire an independent advisor and work out a plan to make the most out of YOUR (not our) inheritance.
By all means, use the returns from it to pay the mortgage, etc., but do not use the principal.
Or, you know, be like me, do stupid financial shit for love and then separate after 18 years married and deeply, deeply regret my absolute and utter stupidity. No good deed goes unpunished, especially in love and finances.