We feel like we dont know where to begin to think about making wise investments.
Just save it up all in a high-yield savings account or CD?
Where or who can we go to for the most trustworthy advice on what to do with this money?
These are thebiggest money secrets rich people don’t tell you.
But rarely is there a need for this sense of urgency.
You dont need to make any big decisions right away.
In fact, acting too quickly can cause you to make emotional decisions that arent in your best interest.
Your Email AddressSend Your Question
DISCLAIMER: Questions will appear in The Penny Hoarders Dear Penny column.
We are unable to answer every letter.
We reserve the right to edit and publish your questions.
But dont worry your identity will remain anonymous.
Thank you for your question!
Your willingness to share your story might help others facing similar challenges.
While we cant publish every question we receive, we appreciate you sharing your question with us.
Ask Another Question
But thats what Id do based on my own goals and risk tolerance.
Look for an adviser whos paid using a fee-only model instead of by commission.
The National Association of Personal Financial Advisors (NAPFA)websiteis a good resource for finding an adviser.
It contains a directory of fee-only advisers that you’ve got the option to search by ZIP code.
All of its member advisers are fiduciaries, which means theyre required to act in your best interest.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
You may want to meet with several advisers and hire the one you feel most comfortable with.
Think of it like looking for a doctor.
You want someone who listens to you and takes time to understand your goals.
Its important to find someone who explains things to you in language that you understand.
When your net worth suddenly increases, your insurance needs often change.
You may also want to upgrade your estate planning documents.
Beyond the financial planning nitty-gritty, give yourself permission to dream a bit.
You say you dont want to blow your inheritance on silly spending.
But youre about to receive a life-changing inheritance after many years of living on modest means.
What did you dream about doing back when you never imagined youd have seven figures to your name?
But going on the vacation youve always imagined taking or pursuing your favorite hobby isnt silly spending.
Did you know?
But inheritances can be fraught with emotions.
Some people feel guilty that their newfound financial freedom is the result of their loved ones death.
Focus on spending with intention.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder.
Send your tricky money questions to[email protected].
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?
Ask one of these companies to help…
