Hello all, I have the option to take a lump sum payment or open an Inherited IRA and am leaning towards the latter and taking out 10% per year. Total money being received is ~$35k and I currently make ~$115k per year which puts me in the 24% tax bracket for a single filer.
One thing I was thinking if choosing the Inherited IRA is to take that money and increase my 401k contribution to roughly match what I'll be receiving from the monthly payments as I'd prefer to invest as much as possible into my retirement.
Does this seem financially sound? Is there something I'm missing?
u/B0nkerz__ — 10 days ago