Baby Boomers are said to inherit 11.6 trillion dollars from the world’s greatest generation. That being said, it’s also been reported that one in three people who receive an inheritance will go broke in two years or less. What many of these hopeful inheritors aren’t anticipating is how much of a game changer an unexpected windfall of cash can be, when it comes to both planning and funding their retirement. In fact, most inheritors don’t understand that when they do receive a substantial inheritance, that’s when the hard work begins. In other words, planning what to do with that money becomes more important than ever.
This week on the David Lukas Show, David covers the uncomfortable topic of inheritance and how one specific generation (that’s you Baby Boomers) may be teeing up for great loss after such a substantial gain. Throughout the hour, David explains what you should and, even more specifically, what you shouldn’t do when you suddenly come into some money.
Specific topics discussed in today’s show:
-The first two critical things you should do upon receiving an inheritance
-The secret to managing pre-tax retirement accounts vs. other savings and investments
-The one tax you should never have to pay on an inheritance
-Lastly, how you could avoid other trap doors that could cause you to lose it all
To hear all the excellent information from David Lukas of David Lukas Financial has regarding what to do when you receive an inheritance, listen to the entire episode today.
The Guide to Social Security can help you understand how to keep up to 32% more of your money for retirement. Since you have a choice of when to start Social Security and also your individual or employer-plan qualified retirement money, can be coordinate to maximize your Social Security. Request your Free Guide To Social Security today! (Must be a resident of Arkansas)
Want to know more about how David Lukas Financial can save you money on unnecessary taxes and fees—call David Lukas Financial, (501) 218-8880, today to learn more about The DLF Retirement Advantage™ Process, David Lukas Financial is conveniently located right here in North Little Rock, Arkansas.