DiscoverYour Money, Your WealthWhat to Do With Inheritance Money? - 428
What to Do With Inheritance Money? - 428

What to Do With Inheritance Money? - 428

Update: 2023-05-09


So you’re about to receive a large inheritance - what should you do with it? Joe and Big Al spitball on suddenly becoming $85 million dollars richer. Plus, is it nuts to semi-retire early? Should retirement contributions be split between Roth and traditional accounts? Can you do conversions to your kids’ custodial Roth accounts? The fellas also spitball tax bracket-based Roth conversion strategies to help you pay the least amount of tax possible, long term, and they discuss required minimum distributions on inherited assets, and whether to pay off a 401(k) loan if it’s “paying” you 8% per year.


  • 00:48 - I’m Inheriting Millions of Dollars. What Should I Do With It? (Michael, Binghamton, NY)
  • 07:04 - Should I Split Retirement Contributions Between Roth and Traditional 457? (Kevin, Folsom, CA - voice)
  • 11:34 - Should I Do 100% Roth TSP Contributions? Am I Nuts to Semi-Retire Early? (Derek, Seattle)
  • 16:30 - Should We Do Roth Conversions to the Top of the 22% or 24% Tax Bracket? (Bill, Maryland)
  • 23:53 - Is My CPA Correct That I Can Convert $24K to Roth Tax-Free? (Sam, Newark, NJ)
  • 26:52 - Can I Convert 457 Money to My Kids’ Custodial Roth Accounts? (Brian, Binghamton, NY)
  • 32:50 - RMD Rules for Inherited Roth IRA and Traditional IRA (Dan, Brick, NJ)
  • 38:48 - Should I Pay Off My 401(k) Loan That’s “Paying” Me Over 8% Per Year? (Anon, Denver, CO)
  • 42:59 - Comments on Keeping Employer IRA Money Separated
  • 44:46 - The Derails

Access this week's free financial resources in the podcast show notes at 

  • Complete Roth Papers Package 
  • Episode Transcript
  • Ask Joe & Big Al On Air
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What to Do With Inheritance Money? - 428

What to Do With Inheritance Money? - 428

Joe Anderson, CFP® & Alan Clopine, CPA