4-minute Money Ideas

The Things Not to Do With an Inheritance By Douglas Goldstein, CFP® - helping olim handle their U.S. investments from Israel When you get an inheritance, your first question may be, “What should I do now?” But perhaps a better question is “What shouldn’t I do now?” An emotional rollercoaster Getting an inheritance arouses many emotions. Sometimes, people get too excited and they spend all the money without thinking about the best uses for it. Others feel uncertain that they know how to manage the wealth they just received. Their fear paralyzes them, preventing them from making good investment decisions. What are the mistakes to avoid? When you get an inheritance, try not to let the tangle of emotions interfere with making the right choices. Avoid the following: Impulse spending. While you may have always wanted a luxury car, designer jewelry, or the latest technological gadget, step back and ask yourself if these are really the best uses for your new wealth. Sometimes there is an additional cost to an i