• galiagich

10: You ask. We answer. #2

Updated: Jun 23






1. There's a company that turns dead bodies into an ocean reef.

2. Inherited IRA.

  • Start by meeting with a financial firm/advisor and update them on your goals and ask about fees. If the relationship can change to your goals, then continue. If not, transfer as an INHERITED IRA to a new firm of your choice. Consider low-cost index fund firms such as Vanguard and Fidelity.

  • You will have to take out a certain percentage of the money out as an RMD (required minimum distribution) for the next ten years or the rules of how your parents too out.

3. Close to Retirement?

  • We answered the portfolio question of a 76-year-old man and suggested:

  • It’s hard to sell now unless you need the money. Try not to sell now while the market is low if you can wait just a little bit and wait for the market to come back up. Ideally, shift some of the money in bonds and fixed income, given your age - Keep 20% ideally in stocks given your age. If you are feeling super anxious, and who isn’t - make a small move now to maintain your balance.

  • Consider target allocation funds from Vanguard, as well, that are 60% bonds/40% stocks.

4. How to Deal with Rising Gas and Grocery Prices.

  • Start with the numbers. To curb your worry, figure out exactly how much more you are spending due to inflation. Is that $300 is it $500? If you can, try to find that money elsewhere.

  • Look at your insurance - can you get a lower rate (I just did!),

  • Get rid of streaming channels you aren’t using.

  • Shop at a different grocery store (I use Instacart for Costco) or even think about getting a cheaper car or sharing a car.

  • You can still budget for the things you love such as eating out, and vacations.





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