Real Answers for Life’s Money Challenges
I have inherited $150,000 from my father.
What can I do with the money so that my childrens father will not know about it ever?
Also, what is the best thing to do to make a safe profit with the inherited money?
If you have more than $1,000 in your checking account,make these moves.
My childrens father is totally an uncontrollable spender.
I really believe its a serious illness hes always had, along with many mental disorders.
He is a 100% disabled veteran.
What should I do right now?
-K.
Dear K.,
Suppose your kids father would somehow learn of your inheritance.
It really wouldnt matter because he wouldnt be entitled to it.
Even when two people are married, inheritances and gifts belong solely to the inheriting spouse.
Depending on how your father left you this money, your inheritance may be a matter of public record.
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But lets be realistic.
Loose lips seem like a far likelier source of this information.
The best way to stop your ex from discovering your inheritance is to not talk about your inheritance.
Not with him, obviously.
Not with mutual friends and acquaintances.
And not with your kids, assuming they dont already know.
Its not fair to ask them to keep a secret from their father, especially if theyre young.
Now lets talk about what to do with that money.
The first step Id take is to establish a six-month emergency fund for you and your kids.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Go ahead and start now, but be sure to bookmark this post so you might easily return later.
Well keep it updated as offers changes or expire.
In an average year, returns are around 10%.
Its essential that you keep that money put so it can grow.
Establishing your emergency fund provides a safeguard so you dont have to withdraw your money for short-term needs.
A $150,000 inheritance can buy you significant financial security, but its not a winning Powerball ticket.
If you dont broadcast your inheritance, odds are good that you’re able to keep it private.
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Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
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