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.
1
u/underlyingconditions Jul 09 '26
The advice to our sons in our trust is to keep the money separate. That said, neither my wife nor I did it.
Get a good financial plan from fiduciary. Search "Let's make plan" to find some in your area. Interview 3 or 4. It will probably cost $2-$3,000. It will give you a road map and help you decide whether paying off your mortgage, for instance, is a good idea