Whether you receive an inheritance or win the lottery, they can both be treated like receiving new income. Katie and Henah chat through what they would do with a big lump sum, including paying off debts, investing in experiences and companies, and if Katie would continue to rent. 👀
Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.
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Mentioned in the Episode
Inheritance taxes: https://turbotax.intuit.com/tax-tips/estates/what-are-inheritance-taxes/L93IUc3sC
Estate taxes: https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
Treading lightly on unexpected income: https://podcast.moneywithkatie.com/how-to-deal-with-unexpected-expenses/
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