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Richard's parents are deceased and he inherited substantial assets from them. Their home was sold for $100,000. Stocks, mutual funds, savings bonds, and bank accounts totaled another $200,000. In addition, Richard was beneficiary of his father's retirement account.
Richard earns a fine salary, enough to support his family, so he does not need to use his inheritance for current income. He has a mortgage balance remaining on his home and contributes some to his 401k (enough to get the match). He is eligible to contribute to Roth IRAs but until now could not afford to.
Richard wants help coordinating his inherited assets with his existing mix of investments. He also has questions about tax implications and other rules related to making changes to or drawing from the inherited accounts.
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