What to do when inheriting a large sum of money (C$2M+) - Page 3
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Thread: What to do when inheriting a large sum of money (C$2M+)

  1. #21
    Senior Member My Own Advisor's Avatar
    Join Date
    Sep 2012
    If unclear what to do with some money, in short term, i.e., ...."there is a “wish list” for our home, but not a $400+K gut-job renovation. Something in the region of $150K would more than cover what’s required."....I would be tempted to consider the following:

    1) $100K cash. Savings.
    2) $400K GICs.
    3) $1M invested in XIU and/or Canadian dividend paying stocks (for tax efficient dividend income).
    4) $250K invested in HDV or VYM for US dividend/distribution income.
    5) $250K invested IDV or related for US dividend/distribution income from international companies.

    Cash for life and for kids' life and beyond!

    Hidden Content - Working on a $1 million portfolio and $30k per year from it.

  2. #22
    Senior Member olivaw's Avatar
    Join Date
    Nov 2010
    Relating to a different thread, one option is to contact an insurance agent or fee-only advisor and asked them to quote a 45K annuity indexed to inflation for the next 50 years - if for no other reason than to find out what guaranteed income is really worth.

    2M is a lot of money to hold at one time but it is not a lot of money when you have to make it last for 40 or 50 years.

    If you have something to say - then say.

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