19 y/o Windfall Questions
Daughter just received a life insurance policy from ex great-grandmothers passing for $45,000. Wondering what the best course of action should be. The money is sitting in Vanguard settlement fund. She doesn't have immediate use for the funds, but would like to remain liquid, so looking for the most tax efficient.
19 years old - Michigan
15% marginal tax rate (approx $15k/year GI)
My initial thought was to have her put in VTSAX or a similar stock fund, but figured I'd ask for any input here.
Thanks in advance!