I'm 64 and Just Inherited $300,000. What's the Best Way to Use It?
I'm 64 and Just Inherited $300,000. What's the Best Way to Use It?
AJ Fabino Benzinga Thu, February 5, 2026
Quick Summary
A $300,000 inheritance can strengthen your retirement — or create a tax and timing mess if you move too fast.
Before you invest a dollar, pressure-test your plan with a financial advisor.
If you're trying to diversify beyond stocks and bonds, some investors add real-world assets — including hands-off real estate through Arrived, where shares can start around $100.
A $300,000 inheritance at 64 can feel like a late-in-life reset button.
It can also be a trap.
The mistake people make isn't picking the wrong ETF. It's making a big, irreversible move before they understand what the money actually needs to do. That's cover longevity risk, taxes, healthcare, inflation, and the possibility that markets don't cooperate when you start drawing income.
The emotional part is obvious. The technical part is where people get hurt.
Here are a few ways retirees can approach it.
Diagnose it first
At 64, speaking with a financial advisor early can help clarify what this money actually needs to accomplish.
If any of this inheritance came through a retirement account (like an IRA), the rules and timing can be very different than receiving cash or a taxable brokerage account. The IRS' beneficiary rules can dictate distribution requirements depending on who you are and what you inherited.
This is where a second set of eyes can pay for itself quickly by helping you avoid one expensive misunderstanding. Take a quiz and answer a few questions about your situation, and SmartAsset can connect you with up to three vetted financial advisors who work with clients at your asset level and life stage.
If you're trying to turn an inheritance into a durable plan, many start by talking with a financial advisor through SmartAsset.
Add Inflation-Resistant Income Without Stress
For many retirees, inflation is the hardest threat to plan around because it erodes purchasing power, which is why platforms like Arrived come up in conversations about diversification.
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