Mistakes people make when receiving an inheritance

Receiving an inheritance isn't as easy as it sounds, especially if you don't want to pay more in taxes than you're legally required to.

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Douglas Goldstein,

Investments
Investments
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In this financial podcast Doug Goldstein, CFP and cross-border financial advisor, and Jim Lange, CPA and Estate Planning Attorney, discuss how to best title and set up inherited IRAs (Individual Retirement Accounts) to maintain tax efficiency.

If you pay taxes later, you have more money to invest now.

Investing for the future means that you're optimistic: Ask Doug whether his cup is half full or half empty, he'll say it's full of promise for the future. Doug discusses his favorite new technologies (self-driving cars), and summarizes how to decide what technology to choose for your long-term money.

If you are optimistic that the economy is growing, look to the future and invest in the economy. If you think the future will be better than things are today, become a long-term investor, and choose to invest with an index fund, mutual fund, or money manager.

Optimism isn't the only important trait long-term investors need. They also need patience. Listen to the show to learn why.

(Note that Doug doesn't give tax advice, he's a financial planner and investment advisor. For tax advice consult a certified tax advisor.)



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