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Money Guy Show

"I Inherited $100K - What Should I Do?"

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 6 November 2023

⏱️ 38 minutes

🧾️ Download transcript

Summary

What should you do if you receive a large inheritance? We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

We are ready to move on to Jordan's question next.

0:10.0

It says my company matches me 100% up to 10%.

0:15.0

Whoa!

0:16.0

That's a lot.

0:17.0

This effectively means I'm saving 20% of my income.

0:22.0

Should Roth IRA be my next goal and do I have to max it out even

0:27.6

though 5 percent wouldn't necessarily be maxing it? So how should you think about this

0:32.4

because this is a very unique opportunity that he should definitely take advantage of?

0:36.0

I mean first of all Jordan that's incredible right a 10% match on a 10 percent contribution. That's insane. Like they're like we've

0:46.6

seen a lot of like incredibly generous employers out there. That's big time.

0:50.1

Yeah, that's big big time. We ought to start a movement call to have you hugged your employer today.

0:54.0

I mean because that's that's one that I would definitely go hug your employer because that's great.

0:59.0

Would you want all of those hugs though?

1:01.0

I'm not a hugger.

1:02.0

I would at least appreciate the attempt.

1:05.0

You know, if I had a line outside, I'm like, no, no, no.

1:09.0

But it really shows me everybody appreciated

1:11.0

being the generosity that's going in because that means

1:14.2

Jordan that your employer not only is it a place to work to get your your wages you

1:20.4

know to pay you for a moment of your labor and time but they also are trying to

1:24.8

invest in your future success and that and we do the same thing I love it I think

1:30.4

the most generous plan I've seen is we have an employer we're actually

...

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