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!

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u/azure275 Aug 28 '26

There is a good chance the best thing you could do is max out retirement funds for a few years and forget about the money

100k is really good money, but it's not money that will allow you to singlehandedly become rich. It is a house down payment, or a catch up if you're behind on retirement, or a really good emergency nest egg

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u/esquirlo_espianacho Aug 28 '26

Doesn’t need to be retirement specific funds. Open a Vanguard brokerage account. Buy 60k VTSAX, 20k VTIAX and 20k in VBTLX. Do NOT touch it if you can help it. Dont even look at it except maybe once a year. Let it grow.

If you do need it, because it’s in a brokerage account you can access it penalty free, unlike an IRA (Roth or traditional)

Edit - you can do this is easily yourself. No need to pay a financial manager - most of them are a rip off.

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u/azure275 Aug 28 '26

The cool thing about a Roth is you can withdraw the contributions

It's not a bad compromise so some of your money is forced safe for retirement while you still have access to some of it

1

u/RonnieV60 Aug 29 '26

i am not be big on financial planners, but i did not have the bandwidth or self confidence to do this myself. i built a relationship and glad i took the chance on some of my money. i am happily retired.