Inheritance: Spend it RightSubmitted by Bellwether Wealth on November 14th, 2017
Receiving an inheritance, whether it be from a family member’s unfortunate passing, or if you are gifted a large sum, can be overwhelming. And while the stress of figuring out where to put the money can be burdensome, it’s important to make a decision relatively quickly. Below are a few tips we’d like to share to help you make the best decision about how to invest and save.
- Assess your current financials, and use some of the money to reduce your financial debt: Pay off any out-standing, high interest debt, like credit cards, first.
- Secure your future: Put some of the money into a savings account. Assuring you have a safety net will not only take care of any unexpected changes but will also put your mind at ease knowing you’re investing in your future.
- Take a little bit and treat yourself: Once you’ve addressed the basics, it’s okay to spend some of the money on something that’s important to you, like a new car, a down payment on a house or investing in a business.
Life is all about making the right, responsible choices – having fun while doing it. At Bellwether Wealth, we’re fluent in helping our clients handle large sums of money in a responsible and intelligent manner. If you’d like to discuss your inheritance with one of our certified financial planners to be sure you’re putting it in the places that will help you meet your financial goals, contact our office at 402-476-8844 or email firstname.lastname@example.org.
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