My husband passed away a couple years ago. Between life insurance and other assets, I inherited a sizable chunk of money. I’ve paid off all my student loans and bought a house with a traditional 20% down payment and made updates/repairs. If I invest 100k, I still have about 80k left for an emergency fund. I know this money could be working for me, but I just don’t know where to start.
Other info that may be relevant: I’m 33 with no kids, but will hopefully remarry and have kids eventually. I usually pay my single credit card off every month, and if I do keep a balance it’s maybe 1 or 2k for a month or two. I still owe on my car - 18k, I think. The car and mortgage are my only debt. I make a decent income and contribute 6% + 6% company match to my 401k. I currently have about 70k in my 401k and 7k in a small retirement plan with my company.
The guy who sold my husband the life insurance policy wants to use the 100k on annuities. I don’t think he’s trying to con me or anything, but I know that that’s what he sells. He downplayed getting a financial advisor, stressing that they don’t have any sort of fiduciary obligation to me (but neither does he).
Question 1: Should I just go ahead and buy some annuities (an annuity?? - shows how much I know) with this guy? Question 2: Should I get a financial advisor instead, and if that’s the case, how do I know who to go with/where do I look?
Thank you very much for your input!
Submitted April 23, 2019 at 03:29PM by HopefullyHainish http://bit.ly/2Pt10ME
