vgps68[at]gmail.com wrote:
- quote -

This isn't really appropriate to hash out on MIFP but the thing that
jumped out from your post is the comment about bipolar disorder. I've
had some experience with that over the years and I think that issue,
rather than "investments", is the one to address first. (well, second -
after paying off the debts which is probably a good idea, regardless)

Two thoughts come to mind...first, you mention job loss. If you haven't
been able to manage the disorder because of cost issues, perhaps you
could look at this inheritance as providing some additional funds to do
that. Spending more $ might mean a better doc or monitored care or
something else, but perhaps that would help your quality of life and
reduce the risk of future job loss.

Second, if the job interference has come even when the disorder has been
managed as well as possible, that may mean you want to secure these
funds in a place where you can't get at them during those "up" times.
Nothing to do with the investments themselves but rather how/where
they're held. I've seen examples where things were perfectly manageable
98% of the time and it was the 2% that caused all the problems. And
really just about anything could happen during that 2%. If that
describes your situation, then with respect to money - I would place a
high priority on making sure things are set up to deal with those "2%"
times. It may mean locking these funds away in a trust overseen by a
trusted friend or relative, or something else. But the point is we can
talk about CDs or bond funds and it won't matter at all if there's a
risk of it all being withdrawn someday for who-knows-what. It's almost
as if you view it as a burglar that might visit every now and then -
what alarm system do you put in place?

No disrespect meant, just raising this because you mention job loss from
the disorder, and it seems that's something that has to be part of the plan.

-Tad

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<vgps68[at]gmail.com> wrote
Re a recent net $75k of inheritance--
- quote -

Do you buy health insurance during the periods without jobs?
Do you have health insurance now?

Otherwise, what joe said regarding needing more information
and ditto camgere's point about credit card etc. debt.

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In article
<84163a32-1dad-4abe-b970-57152f0c0564[at]d1g2000hsg.googlegroups.com> ,
"vgps68[at]gmail.com" <vgps68[at]gmail.com> wrote:

- quote -

With this being the only thing to go on, I'd split it 3 ways.
Put $25K in money market as an emergency fund (then make sure
you don't have emergencies, at least not on a regular basis).
Next, $25K in CD's. This is your solid base of assets. You
may want to look at FDIC backed brokered CDs to get a little
better return. Finally, the last $25K in the stock market,
invested in no load or very slow expense index funds based on
some wide market index. This is your long term growth money.
If you can shelter some of this in an IRA, so much the better.

-john-

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On Sep 21, 4:47*am, "vgp...[at]gmail.com" <vgp...[at]gmail.com> wrote:
- quote -

If you are used to credit card debt you will likely run it up again
once your cards are paid off. You may be used to spending 5% - 10%
more than you really have coming in. Blowing through the cash will be
a huge temptation. All those big tickets items you never thought you
could get. Put the 75K into an 6 month FDIC CD and promise your self
you will let it mature. Enjoy paying off your debt from highest
interest rate to lowest. Some times car loans aren't worth paying off
early. It depends on the specifics. So pay off your credit cards
this month. Next month pay off something else. This way you get used
to having money around. By the time you pay off the student loans you
will have had time to think and re-think your situation.

Money is a bit like insanity. A poor person couldn't spend $1,000 a
week feeding the birds. They wouldn't have the rent money or food.
Soon you will be able to spend $1,000 a week feeding birds. Time to
get rational.

Enjoy your windfall!

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vgps68[at]gmail.com wrote:
- quote -

More info is needed to give you any useful answer.
Once you pay the debts, is your income enough to pay your bills?
Do you own your home, or rent?
What is your income, or range if you don't wish to give exact details?
Does your employer offer a 401(k) with matching funds?

No one can offer you any advice about asset allocation until some of the
above questions are answered, but I can suggest that, regardless of your
other details, there are tax strategies that would help stretch those
dollars. In the 15% bracket, putting $6000 in an IRA will save you $900,
which you'll likely be able to withdraw at age 59-1/2 with no tax due
(the zero bracket created by the standard deduction and exemption). A
matching 401(k) deposit is the other way to instantly grow some of these
funds over time.

Joe
www.blog.joetaxpayer.com

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On Sep 21, 6:47*am, "vgp...[at]gmail.com" <vgp...[at]gmail.com> wrote:
- quote -

Financial risk increases going from CDs to money market to bonds to
stocks; returns generally increase with increased risk. There is also
a risk in failing to plan for your retirement. Get a book on
financial planning from the library.

Frank

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I'm about to inherit $100,000.00 . I'm 54 years old and have no
savings or any other financial assets. I'd like to pay off my credit
cards, my car, auto insurance, student load etc. and be debt free.
What should I do with the rest of the money (about $75K)? CDs? Money
Market account?
I have a good job but I can never tell how long it will last as I'm
suffering from bi-polar disorder and it has cost me multiple jobs
since 2001. Any advice would be greatly appreciated!

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