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    gdlevall77's Avatar
    gdlevall77 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 6, 2008, 05:31 PM
    I inherited money
    Hi. I recently inherited 20,000 and I need to do something smart with it. May I have some advice?
    hkstroud's Avatar
    hkstroud Posts: 11,929, Reputation: 899
    Home Improvement & Construction Expert
    		  
    #2

    Nov 6, 2008, 05:52 PM

    Put in the highest interest paying CD or money market fund you can find until the financial world settles down.
    Scleros's Avatar
    Scleros Posts: 2,165, Reputation: 262
    Hardware Expert
    		  
    #3

    Nov 6, 2008, 05:59 PM
    Suggestions in order:
    A) Eliminate or reduce all debt.
    B) Establish 6 month emergency fund for monthly living expenses.

    If any amount remains:
    C) Decide how much time and effort you're willing to spend managing the money to grow it and post back.
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