Hi,
Thanks for any insight you might have!
My wife and I and 74. We recently inherited $1,000,000+ that is invested in Ed Jones. We have about $275,000 in cash and combined SS of $3,200/mo. Other than a couple of cars and standard home furnishings, we have no asserts or debt. We rent our home @ $2,220/mo
Ed Jones says to spend down the cash as income, while we get rich in investments, paraphrasing.
Not sure I understand the idea of spending close to $30,000/yr in rent. That's $300,000 in 10 years. Am scared we'll go through the cash too fast, before the investments grow substantially.
We live in the suburbs of Austin, Tx.
Please we need an unprejudiced view. We have owned several homes and know the pitfalls of taxes and upkeep, (we think)
Thanks for any insight you might have!
My wife and I and 74. We recently inherited $1,000,000+ that is invested in Ed Jones. We have about $275,000 in cash and combined SS of $3,200/mo. Other than a couple of cars and standard home furnishings, we have no asserts or debt. We rent our home @ $2,220/mo
Ed Jones says to spend down the cash as income, while we get rich in investments, paraphrasing.
Not sure I understand the idea of spending close to $30,000/yr in rent. That's $300,000 in 10 years. Am scared we'll go through the cash too fast, before the investments grow substantially.
We live in the suburbs of Austin, Tx.
Please we need an unprejudiced view. We have owned several homes and know the pitfalls of taxes and upkeep, (we think)
Statistics: Posted by JATT9272 — Fri Dec 22, 2023 10:19 am — Replies 0 — Views 19