How to invest an inheritance when you have no idea what you're doing
Inheriting money without any financial background creates intense pressure and leaves people completely unsure where to begin. Without the knowledge to evaluate options or choose safe funds, they are left guessing at a critical time when they are responsible for long-term planning.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
- 1asking ChatGPT for investment strategies
- 2putting money into target date retirement funds
- 3using managed accounts or financial advisors
- 4talking to a fee-only fiduciary financial advisor
- 5getting power of attorney and co-owning accounts
- 6starting with a budget
- 7creating a trust with a trust and estate lawyer
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“I am not financially savvy. I make enough to cover my bills etc but neither of my parents taught us anything about finances so I’m starting at zero and now I’m responsible for financially planning for my mother’s future .”source ↗
“I have no idea what I’m doing….qnd this is a lot of pressure.”source ↗
“I have about 100k i received as an inheritance. I’d like to invest this money and really not sure where to begin.”source ↗
“I’d like to invest this money myself , looking for some relatively safe funds to park it and watch it grow. I’m just not well versed enough on my own and would love some advice and input.”source ↗
Where this came up
People with this problem also raised
- 2Where to invest inheritance money for my kids?
- 4How to avoid high fees on an inherited Edward Jones account
- 17How to start investing with very little money
- 5What do I do with an inherited IRA?
- 2How to start investing with fluctuating or seasonal income
- 3How to find a simple all-in-one bank and brokerage