What to Do With an Inheritance Amid the "Great Millennial Wealth Transfer"

Financially Well

May 15 2022 • 14 mins

What should you do when you receive a small inheritance?

Welcome to Financially Well, the finance podcast for Millennials. In this episode, Kevin Mahoney, CFP® will discuss the steps to take after you learn that you're set to receive a small financial windfall. Many financial institutions, both start-ups and household brand names, would love for you to immediately invest your money with them.

But Kevin, who specializes in financial planning for Millennial parents, will explain why fewer hasty actions under these new circumstances may serve you better over the long term. You may benefit from working with a tax professional, but otherwise, you likely want to wait before taking any significant action.