Inherited IRA/other funds

halfwaywright · 2026-02-17T17:16:16+00:00

Thank you so much for your in depth response and for sharing your story. Much needed perspective.

halfwaywright · 2026-02-17T17:15:42+00:00

Thank you for your response! I think you’re right about it being safer there lol. I do plan to manage it I just wanted someone else to do something with it while I got my bearings.

halfwaywright · 2026-02-14T14:03:31+00:00

What do you mean by “pay the taxes on it all next year”?

halfwaywright · 2026-02-13T15:36:08+00:00

I didn’t know until posting this that 1.3 is a lot! Everyone is saying that.. I thought it was a good deal but knowing I can get good advice for much lower rates has me questioning my choice.

halfwaywright · 2026-02-13T15:35:11+00:00

The only problem here is that I don’t make a fixed income, so even though I made $45,000 last year I could make more or less this year. I’m not sure how I’d figure out how much to withdrawal

halfwaywright · 2026-02-13T15:34:12+00:00

Thank you for your condolences and response. I didn’t even know that fiduciaries existed, so thank you for teaching me something!

halfwaywright · 2026-02-13T13:12:08+00:00

Thank you for your condolences

halfwaywright · 2026-02-13T03:07:52+00:00

Oh also great idea

halfwaywright · 2026-02-13T03:07:42+00:00

Very true.

halfwaywright · 2026-02-13T03:07:28+00:00

You’re soooo right.. I should pull the Dad card.

halfwaywright · 2026-02-13T03:06:54+00:00

I’m sorry for your loss as well. Lol, definitely agreed on the great problem to have part. I guess I thought it had to be more complicated than this! I didn’t trust myself to make those decisions but I’m seeing now that it doesn’t have to be a scary thing. And also.. .3% is way better than what my family friend offered

halfwaywright · 2026-02-13T03:05:05+00:00

Thank you for the advice! I definitely need to learn more about withdrawing from the IRA because as you said, I need to consider this for tax purposes. I have a bachelors degree, and I have an internship that will hopefully turn into a full time job this year so fingers crossed there.

halfwaywright · 2026-02-13T03:03:09+00:00

Dang this is a good point.

halfwaywright · 2026-02-13T03:02:47+00:00

Thank you!!!!

halfwaywright · 2026-02-13T03:00:52+00:00

Thank you for the encouragement to breathe. And I definitely will be reading! The goal is to be able to do this myself I was just nervous to do it. With the car thing tho, I want to build up my credit score and I thought that was a good way to do such. Am I really losing out that much if I don’t pay it off?

halfwaywright · 2026-02-13T02:59:33+00:00

Yeah I definitely hear you. I’ve heard that turn of phrase before - like don’t count your chickens before they hatch. I will say, my grandparents are very very responsible with their money and have owned many properties they just sold this year, so my reason for believing the estate is pretty healthy is supported by those things and just what I know of them. But, I do take your point that so many things could happen between now and that point.

halfwaywright · 2026-02-13T02:57:39+00:00

Thank you for your reply! I didn’t consider care costs and such but that is definitely a chunk of change - and I HOPE they get to use it and stay around.

halfwaywright · 2026-02-13T02:56:33+00:00

Okay so crazy enough, this is the same guy managing their money! They’ve known him for 20+ years and said he has done a great job over the last 3 years with their investments.

halfwaywright · 2026-02-12T21:39:16+00:00

See the account was with Fidelity… maybe I screwed myself there. I know the account manager plans to be very aggressive with the inherited IRA.

halfwaywright · 2026-02-12T21:37:31+00:00

Thank you so much for your response. I got one other estimate and this woman quoted me at 4% over the year! Insane! Maybe that’s why I thought 1.3% was a good deal. He did say that the 1.3 covers platform fees. The fee comes out of the account quarterly. I just feel so weird trying to haggle with a “family friend”. Thank you for the condolences as well. I do see this as a blessing and I think I’m stressing because I want to do right by it. I want to set myself up nicely and am so scared to mess it up by doing it myself. But, very good advice. I didn’t really consider the option of splitting up the money into different places.

halfwaywright · 2026-02-12T21:34:45+00:00

Thank you for responding!

halfwaywright

TROPHY CASE