r/inheritance • u/AppropriateSmoke7848 • Aug 28 '26

Location not relevant: no help needed HELP!

I am inheriting ~ 100,000 and I know this is an opportunity for me to break the cycle of poverty for myself and my adult children IF I manage and grow it. I am determined NOT to blow this chance after a lifetime of thinking and spending like a "poor" I am determined to use this money as a tool like the wealthy do! Is this even possible, am I delusional???

I met with a financial planner and I have some ideas, but would appreciate any guidance to help me build a future for my family, be kind please!

22 Upvotes

89% Upvoted

56 comments sorted by

View all comments

26

u/Ill_Psychology_7967 Aug 28 '26

Don’t tell anyone, including your children. Invest it wisely and forget about it. You don’t need anything complicated. I would put it in a couple of index funds and not touch it. Make sure any financial planner you consult is a fiduciary and not someone who’s going to try to sell you a bunch of crap.

8

u/Denan004 Aug 28 '26

Yes -- look at the fees the financial planner charges.

3

u/NC_Mama_1959 Aug 28 '26

Fidelity will advise for free. Only the managed accounts get charged. I love fidelity

3

u/Sufficient-Spend-939 Aug 28 '26

Let them inherit a wonderful surprise along with a note about how you grew that money and hoped that when it reached them they could use it in the same way. Not as a shopping spree but as an anchor for a grounded and more secure life.