My husband died unexpectedly in March. I now only have my disability coming in and I do have some of his life insurance and did open an IRA but I am worried about keeping the money coming in. I thought I would like to invest some and also open annuity. I am desperately needing advice.Help!
If I were you Id meet with a porfessional for a free consultation or a pay by the hour fiduciary ( what we use). My mom had very good luck with Thrivent when my dad died. I’m very sorry for your loss.
Apply for food stamps, even if a small amount is granted. Apply for state Medicaid if you don’t already get it. A lot of financial institutions have free consultations. I would not consider an annuity at this time. Is your home or primary residence mortgage free? Do you have children who can assist financially? Are you in good health, without existing health challenges? Do you have a 6 month emergency fund setup? A lot of financial advisors may steer you into investments that are not beneficial based on your age, income, or future plans. I would take a deep breath, and wait another 3 months before considering speaking to a financial advisor. Best wishes, and my sympathy for your loss.
I have two kids in college, this pandemic has really affected me and not being able to make up for my bills, what can I do ?