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How to best invest a $100,000 inheritance in a scary market with lowest tax consequence

Dear Mr. & Mrs. Dolan, I have just inherited $100,000.00 and need your advice. I haven?t the vaguest idea as to how best to invest the money in this scary market. I am a single 57 year-old woman in good health, own my own home with no mortgage, and have no debt. I have an IRA Vanguard Index Fund with $25,000 invested, $60,000 in a CD earning 5% APR, and $30,000 in savings. I have retired after 33 years from my first job and will receive a $1,200/month pension at 65. I am currently working another full-time job from which I plan to collect a second pension of $600/month in 8 years. I presently earn $40,000 per year. How would you recommend I invest this inheritance that I plan to use in retirement 10-15 years from now with the least tax consequences? Thank you for your advice. Sincerely, Lorraine Herman P.S. I miss hearing your radio show on 710 WOR New York.


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Visit my website and call me  www.passport-to-retirement.com
Posted 2009-07-08T18:13:17Z
Dave was invited by Yedda to answer this question.

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Lorraine - 

I agree, this is a very scary economy and there are almost an overwhelming number of options out there.  From a tax consequence, one of the best strategies is honestly to invest the money in real-estate; and in your case, given your working situation, in a real estate apartment complex where you can earn passive income that is offset by the large depreciation of the apartment building.  I'd be happy to set you up on a call with a gentleman I know and trust who has a large client base with very, very similar situations as yours.  His name is Ed Barriskill and is a partner with a company called 37th Parallel Properties (http://www.37parallel.com/about-us).  He'll be able to give you some options.  
Posted 2009-07-09T23:44:44Z
dchamberlain was invited by Yedda to answer this question.

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