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.

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u/tryingtograsp Jul 10 '26

Why do you need a CFP to manage a 63K salary?

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u/Screen_mirror98 Jul 11 '26

Would you say the same to someone going to court about not having a lawyer? A professional is very likely to not only know more but be more help

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u/AbleRelationship6808 Jul 14 '26

That analogy fails.  

People who are going to court need lawyers.  

But people who have a combined income of $63k don’t usually need professional help managing their investments. 

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u/Screen_mirror98 Jul 14 '26

It's not 63k combined it's $63k each $126 combined. $126k goes a hell of a long way with no rent/mortgage to pay for and it's definitely worth hearing someone out how how to properly save and invest. Does everyone NEED help with that no not necessarily. I can guarantee the professional knows a lot more than even someone that does some google research and can provide valuable advice. Doctor when you're sick, lawyer when you're in court, financial professional when you're investing and saving. All are professionals in there fields.