M$D: September 29, 2026
Rey’s main concerns, in her words:
I wouldn’t normally be contacting you, but I have come upon a not-normal situation. I am a RN ($52k), my husband is a fire captain ($58k) and we have 3 boys ages 10, 8 and 8 (yes, twins). Recently, my brother passed away and I was left with approximately $510k in life insurance. I’m not sure what to do with it. I’d like to pretend I don’t have it and invest it for the long haul. I’ve been talking to a financial consultant, which only seems to make me unsure and confused with investing (index funds vs stock funds. managed active vs managed passive vs DIY). Other thoughts are to pay down some of our mortgage ($190k) or buy a cheaper home so we could put more money into 401/Roth/529 options (the dentist also recommended we save for braces x 3!). We own a rental (on accident) and break even with the mortgage. My husband has some credit card debt (I’m not sure exactly how much…). Cars are paid. School loans are mostly paid. Overall, I’m probably considered a “late-bloomer” in the financial world. My time as a raft guide and outdoor educator was super fun, but I didn’t start saving until I was closer to 31 years old. I have appx $70k in retirement, my husband has $80k. Ultimately this is a lot of money to me and I’d just like to make wise decisions with it. Any advice and ideas are appreciated! P.S. I’m a big hip-hop fan and appreciate the tunes in your podcast! 🙌🏻
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Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.
2 thoughts on “Ep. 140: Rey recently inherited a whopping half million and needs to know where it should go.”
If they’re in their accumulation phase(s), they could ( after paying taxes on the money ) apply some of it to a quantitative, modern tactical asset allocation strategy
There wouldn’t be taxes, though, right?