Mom recently passed away and received inheritance I did not expect. Not to be a millionaire but still more than I expected. Any recommendation on what do to with this money? Adding my current savings its close to 300k

likesmart
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OP, I am sorry for your loss. Can you take a small amount and do something with it that will remind you and honor your mom? Like a park bench, meaningful memento for the house, or something like that? With the rest, decide what you want in terms of goals and invest accordingly (buying a house in 3-5 years, remodeling, massive rainy day fund).

likeupliftingsmart

Invest it. Talk to a financial advisor if you’re not comfortable doing it yourself

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Sorry for your loss. There are few options -
1. Park in High yield savings account like Wealthfront until you figure out where to invest the funds.you can get rates up to 5% easily.
2. Diversify in ETF like VOO or SCHD or VTI. These are good options for long term investment.
3. Or connect with Financial Advisor.

likesmart

That sucks man I’m sorry for your loss. I’d help you out for free if you aren’t confident in your current ability to invest for your goals. If you want to stick to managing by yourself, look at SPY and QQQ ETF’s for long term goals. For short term goals, look at high yield savings accounts, mine is at AMEX. I’d steer clear from CD’s because you lose the liquidity for maybe a percent more of interest.

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Get a fiduciary to help you. Absolute requirement. Shop around a bit in your area. Depending on your job you may not be able to invest it yourself. In the meantime use a high yield savings account. (I have Marcus.)

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Really sorry to hear about your mom's passing OP, that really sucks. I agree that I would probably meet with a financial advisor and see what they would recommend.

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I am sorry for your loss. Park that money somewhere safe for the time being. Take time to focus on grieving. Don't make any major decisions right now.

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Guess it would depend on your age, what other assets you have, how much risk you want to take, what your liabilities look like etc. go to your bank I’m sure they have a CFP there

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