Is it too late for me to invest my inheritance?

I'm 69 years old, of modest means, and have just inherited $200,000. Is that too late to put in some sort of investment vehicle? What advice do you have for late-in-life investing?

Financial Planning, Investing
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June 2017
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It's never too late. The question is: How should you invest? 

Determining how to invest is a result of many other factors. Fortunately, I come across this situation often; if I were advising you as a client I'd start with understanding the other parts of your financial plan. Questions like these need to be asked and answered: 

What are your sources of income in retirement?

What other assets do you have?

Are you covered by insurance for events like Long Term Care? 

Do you have legacy/estate goals? 

---and many others. 


After understanding your financial situation and your objectives, this will give a timeline for investing that will be the framework for how you should invest.  

I can't really give advice without knowing more details, but I can say this: as investment vehicles are concerned, I'd really suggest you prioritize liquidity in how you invest. This simply means that you have access to the funds in short notice if you need them. As we get older, the propensity to incur large expenses can increase, and the last thing I'd recommend is locking up a significant amount of your capital in a product that restricts your access to it. 

As with all of my insight on Investopedia, my comments are general and for informational purposes only. You should certainly discuss any action with your tax and financial advisors before doing anything. If you don't have these professionals please feel free to send me a message and I may be able to provide definitive guidance after getting more information. 


Adam Harding, CFP | Investments & Planning

June 2017
June 2017
June 2017
June 2017