Broker Check

Career Change and Managing an Inheritance

A hard-working single healthcare worker came to Fish and Associates when she lost both parents within a short time of each other. She was already in a time of transition as she had just left her career of 25 years at a Fortune 500 company to go into healthcare. She needed help settling her parents’ estates, taking care of her own estate planning needs, and figuring out the best way to invest her inheritance for her own future. She also had a pension from her previous career and wondered whether to take a lump sum or lifetime income.

We helped her reallocate her inherited assets from an income strategy in place for her parent’s retirement to a growth strategy for her own financial independence 15-20 years down the road. Together we developed a comprehensive financial plan, and in that process she learned about the importance of stretch, traditional, and Roth IRAs to minimize taxes and maximize her own retirement income. We walked her through the estate planning process as we tied up her parents’ estates and assisted her with her own documentation.

Not only has she protected and grown her inherited assets since their death, she is continuing to save for her own work optional years and regularly evaluates big financial decisions like home improvements, 401(k) options, employee benefits, etc., with us as her financial partner.

Case study results are for illustrative purposes only and should not be deemed a representation of past or future results. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required for some investments. No representation is made as to the accurateness of the analysis.