Receiving a large inheritance can significantly alter one's financial landscape. A Reddit user, poised to inherit $1 million, is weighing options between living off a 5% withdrawal or investing the funds sustainably. At 20-something, with a healthy salary and savings, they seek guidance from a financial advisor to ensure proper management of their newfound wealth. The desire for informed choices underscores the importance of strategic financial planning to optimize benefits from such windfalls.
"I know $1mm parked away at a 5% withdrawal rate is $50k a year which I could comfortably live off, but I'm not sure if that's the best use for the money."
"Iâd like to meet with a financial advisor for some insight as to what my options could be, and would love some insight as to where should I start looking."
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