Financial Planning Strategies When You Receive an Inheritance

When you receive an inheritance, what are some creative financial planning strategies to help you maximize its impact?
Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment!
Want to speak with a Certified Financial Planner™? Visit www.korhorn.com/ or call 574-247-5898.
Find more information about the Wise Money Show™ at www.korhorn.co...
Be sure to stay up to date by following us!
Facebook - / wisemoneyshow ​
Instagram - /
Twitter - / wisemoneyshow ​
Want more Wise Money™?
Read our blog! www.korhorn.co... ​
Listen on Podcast: link.chtbl.com... ​
Subscribe on UA-cam: / wisemoneyshow
Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

[@kylerowland1227]

8:40 are there penalties or taxes for pulling out the inheritance money though?

[@WiseMoneyShow]

Tax, but no penalty. This is the one reason why a spouse may choose to treat their spouses retirement account as an “inherited account” and not take it as their own - if they need access to the money before age 59 1/2.

[@thenosepicker]

KFC - Kentucky Fried Chicken but its KFG instead

[@user-xm3wd8tz6d]

We might be inheriting 200k+ and want to grow it and we do not trust anything or anyone.