Inheriting Money After Retirement

Inheriting Money After Retirement

Suddenly, you find out, after your grandmother died at age 102, she left $300,000 to you, her only grandchild. You did not know that was coming. Let’s assume you have already figured out your retirement plans and you’ve retired, knowing that you had sufficient money to live comfortably for 30 years if needed. Plus, you have allowed for extra traveling.

Instantaneously, your life has changed. You can buy a bigger house, a fancy car, or that huge motor home you had wanted but decided it’s too expensive for your budget. What shall you do? The first thing you need to do is calm down and look at all your options.

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Retirement Plan Gone Awry

When a retirement plan goes wrong goes awry

Before I retired I was planning for my retirement. It seemed like the thing to do. It seemed the smartest thing to do.

I told my daughter on a Saturday that I planned to work another year or two and then retire from my part-time job. So that meant I would have worked for my current employer for about two years. For the most part, I really enjoyed my job. It was flexible, and the work was work I’d been doing for over 20 years, so it was not difficult or stressful. My retirement plan seemed like a good plan for both my husband and me.

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