I'm 64 and Just Inherited $300,000. What's the Best Way to Use It?

Core Insights - A $300,000 inheritance at age 64 can serve as a significant financial reset but also poses risks if not managed properly [3][8] - The importance of consulting a financial advisor to understand the implications of the inheritance, especially regarding tax and distribution rules [4][5] - Inflation poses a major threat to retirees, necessitating strategies for income that can withstand its effects [6][8] Financial Planning - Engaging with a financial advisor early can clarify the objectives of the inheritance, particularly if it comes from a retirement account [4] - Utilizing platforms like SmartAsset can connect individuals with financial advisors who specialize in managing inheritances [5] Investment Strategies - Real estate can provide diversification and inflation-resistant income, but managing rental properties may not be appealing for retirees [6][7] - Arrived, a platform backed by Jeff Bezos, offers a way to invest in real estate without the responsibilities of being a landlord [7][8] - Investors looking to diversify beyond traditional stocks and bonds can consider hands-off real estate investments through platforms like Arrived, with shares starting around $100 [8]