It’s a common problem in or near retirement: A relative passes away and leaves you an inheritance. Or you receive a lump sum pension payout. Or you sell the big family home and downsize.
In each case you suddenly have a large sum of cash on your hands….
What should you do with the unexpected windfall? Do you hoard it, or invest it? And, if you’re going to invest it, exactly how and when do you put that money to work?
Do you buy more of your existing holdings, or do you take a chance on something new? And, do you move into the market immediately, or do you make your purchases over time?