An Inheritance Can Be DauntingSubmitted by Moneywatch Advisors on September 26th, 2019
Maybe nothing tests one’s self-discipline more than an unexpected bonanza of money. Hmm, what to do first? Buy the Tesla, fly to Europe? Oh, I know, I should invest in a horse! After all, horse people are rich, racing money must be easy money! In fact, a recent study found that adults who receive an inheritance save just half, while spending, donating or losing the rest. And nearly 20% who received $100,000 or more spent their entire gift. Here are 4 tips what to do and 2 tips what not to do after receiving an inheritance.