This woman is amazing! If I wasn't already married to someone similar, she would be my dream girl! Hard working, enjoys her job, careful with her money, lives far below her means. I love the fact that when getting this inheritance, she isn't just thinking of spending it for herself. My only personal piece of advice is now that she is "rich", she should go part time in possible. I did that a few years ago. I didn't think I was overworked, but when I cut back, I was able to take up old hobbies again, learn new hobbies, and take the time to deepen my relationships.
She sounds like a really kind, thoughtful person, and her desire to honor her loved one by being a good steward of this money is commendable. At some point, the realization has to be made that this is now her money, and it is OK for her to spend some of it in her lifestyle and experiences. I know when I kick the bucket, I would like my kids to be responsible with their inheritance, but also I want them to enjoy it and let the money improve their life substantially.
Great Video! She definitely needs a CPA this first year to make sure the cost basis for the brokerage account is calculated properly for tax purposes. I'm surprised Jill didn't recomend managing the account herself as an option. No one is more studious about your money than yourself.
It's strange that she wouldn't spend 10K on herself, but she seems fine giving the financial advisor that 10K. The best way to honor the decedent is to manage the money yourself. Delegating the responsibility is apathetic.
I say get the cost basis and get out of this advisor's clutches as soon as possible. This way the gains are easier to deal with, and she can switch into the ETFs of her choice without a giant tax hit.
This woman is amazing! If I wasn't already married to someone similar, she would be my dream girl! Hard working, enjoys her job, careful with her money, lives far below her means. I love the fact that when getting this inheritance, she isn't just thinking of spending it for herself. My only personal piece of advice is now that she is "rich", she should go part time in possible. I did that a few years ago. I didn't think I was overworked, but when I cut back, I was able to take up old hobbies again, learn new hobbies, and take the time to deepen my relationships.
She sounds like a really kind, thoughtful person, and her desire to honor her loved one by being a good steward of this money is commendable. At some point, the realization has to be made that this is now her money, and it is OK for her to spend some of it in her lifestyle and experiences. I know when I kick the bucket, I would like my kids to be responsible with their inheritance, but also I want them to enjoy it and let the money improve their life substantially.
Great Video! She definitely needs a CPA this first year to make sure the cost basis for the brokerage account is calculated properly for tax purposes. I'm surprised Jill didn't recomend managing the account herself as an option. No one is more studious about your money than yourself.
I love the clips/videos of jill "spending" other peoples' money haha
It's strange that she wouldn't spend 10K on herself, but she seems fine giving the financial advisor that 10K. The best way to honor the decedent is to manage the money yourself. Delegating the responsibility is apathetic.
I say get the cost basis and get out of this advisor's clutches as soon as possible. This way the gains are easier to deal with, and she can switch into the ETFs of her choice without a giant tax hit.
Everything in s&p, set it & forget it