Inheriting $400K, What Would You Do? Goal is to Have $1M in 10 Years

Investing
21

Split it across money market funds and some stock market ETFs:

50% VOO (or SPY),
30% VTI,
20% TLT.

22

Go to the casino and put it all on red.

23

Invest in a broad stock index ETF to likely reach $800K, look into tax-efficient options to reduce annual taxes.

24

Everything in QQQ (Nasdaq) is already within VTI, creating redundancy. Start with six months of expenses as an emergency fund, then max out your accounts.

25

Zayne said:
Consider buying a quadplex. Invest anything remaining in ETFs.

No, thanks. I want passive income without the hassle.

26

You can be there before then if you leave it alone. Also, don’t ask Reddit for financial advice.

27

You might reach $3.2 million. Max your 401k, consider HSA contributions.

28

$100k in retirement only? You need to put this money away for retirement.

29

With your salary and the inheritance, how do you not already have a million?

30

Consider taking a year off to figure out your taxable income strategy. Utilize HSA & tax-advantaged accounts.

31

Corey said:
Consider taking a year off to figure out your taxable income strategy. Utilize HSA & tax-advantaged accounts.

Inheritance isn’t subject to federal income tax.

32

Corey said:
Consider taking a year off to figure out your taxable income strategy. Utilize HSA & tax-advantaged accounts.

Why would your taxable income increase from an inheritance?