E127 How to Spend an Inheritance

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The vast majority of inheritances are received in midlife. As a group, we midlifers are said to be set to receive the largest transfer of wealth ever. So what are we going to do with it?

Of course, the biggest factor in your spending of an inheritance is your financial picture before you receive it. Right?

If you can’t pay your current monthly expenses and are going further and further into debt each month, your priorities are going to be very different than somebody who has already achieved a position of financial security and wealth. Most of us are someplace between the two.

I see an inheritance of cash as a beautiful opportunity to express yourself, demonstrating who you are and what matters to you.

In this episode of the podcast, I am very open about my family’s priorities and values. They are what drove our decision making. Spoilers alert: We spent it! Okay, some went into my husband’s retirement account, but we wrote the check. In other words, the cash did not sit in a checking account with good intentions. We put all the money where we wanted it to go.

You will need to listen to the episode to learn exactly what we did and why we are so happy with what we did.

Thanks for listening!

Disclaimer: If you are taking financial advice from a podcaster without any credentials, you are probably making a big mistake. You are encouraged to discuss your finances with your attorney, financial planner and tax preparer BEFORE making any decisions or setting any dreams.

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