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Old 02-10-2013, 11:53 AM   #21
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When I realized my company stock options were suddenly worth real money (through acquisition by another company) I started becoming an educated investor. That's the one thing I would stress, and you are already working on. You have a great opportunity to have your investment plans in place and to know what you should be doing with future inheritances. And Plan B's if things don't pan out as expected.

There are lots of restrictions to Roth contributions, so it might be good to try and maximize your Roth contributions now. However, do you know if a portion of your inheritances will be in the form of tIRA's or Roth IRA's? That might significantly change how you want to allocate your current contributions. After considering the probabilities of things working out as you expect.

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Old 02-10-2013, 04:29 PM   #22
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I'd pretend like I didn't know I had that other inheritance coming (which you may not...) and make my own life as if I had only me, myself, and I to depend on. Then, if and when it does happen, take some time to re-group.

You seem to have a good grasp on things, which is great. Many I know at your age would have already have spent the money they haven't yet inherited.

Good luck to you, and I hope you get all you're expecting. But make your own way first. I think you'll feel better about all of it when the inheritance comes in.

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Old 02-10-2013, 08:09 PM   #23
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Money makes people/families crazy....have watched it happen with a cousin of mine and his sister....fighting and lawsuits.
If I were you, I would save and invest for myself. You never know what can happen in 10-15 years. I would also start looking for hobbies and planning for a semi retired life, that way you are prepped for when you are able to leave the corporate world. Don't let the lure of inheritance money interfere with your drives and ambitions....cultivate them regardless of the money.
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Old 02-11-2013, 08:25 PM   #24
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Live your life on your terms and donate the inheritance to worthy charities of your choice. You will do fine & those in need will benefit. You will not regret it.
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Old 02-11-2013, 09:24 PM   #25
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Pay attention to what Moorebonds said above. In your situation, you are in position where you are predictably going to have increased income in future years (either the inheritance throwing off income, or being taken out of tax protection as income, etc.), but at the moment you are at the start of your career, and in a low tax situation. I would recommend

1)planning on saving for yourself - as many here have said

2)bias your savings to take advantage of your low current tax rate versus your probable high later tax rate to pay taxes on your savings now (e.g. RothIRA, Roth401(k)) rather than use tax deferred savings that you'll pay a higher rate on later.

3)Put together a plan/schedule/set of goals. You're likely to have a lot of options, but right now you're still working with small building blocks - figure out what you want to lay the foundation for. You're considering retiring young - what skills would you like to have if you retire at 35? what can you learn in your job that has good applications in a post-work life? Think twice before you buy a home because it's close to your workplace - would you want to live there regardless? if not, renting or buying in a place that would meet your later needs may be worth doing. You're not laying your foundation for a 30 year career, you may be laying the groundwork for a 50 year retirement, highly active, with may possible phases. Plans change, but having a sense of direction is going to be key. you have the time to think now, well before you have to act. I recommend that you make good use of it - come up with a couple of possible plans, even if they aren't compatible with each other. You'll be ready if the facts on the ground change.
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Old 02-12-2013, 02:37 AM   #26
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Once you retire, early or not, wouldn't you want to know that you made the most of all your knowledge and abilities?
What would you like to look back at when paid work goes away?

I am happy to know that DH and myself achieved ER on our own. I will inherit some more within the next years. I am only child and my mom is still living independently, saving on her pension income at 84. But still, I do not count on it.

And when we told my mom that we will ER in summer, it was sooo good to ensure her that we have enough for a very comfortable ER even if she does not leave me a $.

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