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Thank you for taking the time to help me.

Thank you all for your advise/tips. I was worried about the RMD aspect, afraid I was supposed to be taking one. Would you use the money to invest, or, put it towards mortgage principal (Rate is 4.25%)? My Grandma was incredibly hard working, and extremely frugal - I wasn't expecting this money, so I want to make the most of it. You were correct to be concerned about annual RMDs within the 10 year rule. Because GM passed after her RMDs had begun, the proposed Secure Act Regs indicate that you must take annual RMDs in year 1-9. That said, because these Regs are still not finalized after 3 years, the IRS has stated that you were not responsible for beneficiary RMDs that you did not take in 2021 and 2022. However, you need to take these annual...

Thank you all for your advise/tips. I was worried about the RMD aspect, afraid I was supposed to be taking one.
Would you use the money to invest, or, put it towards mortgage principal (Rate is 4.25%)? My Grandma was incredibly hard working, and extremely frugal - I wasn't expecting this money, so I want to make the most of it.

Do you need the money? What is it invested in? What other investments do you have? Emergency fund good and no debt? What tax bracket are you in (marginal federal)? Yes, you must draw it out in 10 years, but you could anytime move it to another custodian if you thought Ameriprise's fees were excessive. With a little more info you would get good advice. For example, you could choose to take it out now, pay taxes on it, then fund your own IRA or savings. I don't need the money. It's invested in LCCAX (Columbia Contrarian Core CL A ). I have a Roth Ira, as does my spouse. My spouse also has a SEP-IRA. I have a great emergency fund. Only debt is mortgage w/ 4.25% interest rate. I believe we're in the 12% / approaching the upper end of it. Do i ...

I'm new to investing, and hoping you can help me figure out the best course of action. My grandmother passed away, at the age of 92, October 2020. I have inherited a portion of her IRA. Split between my 4 Aunts/Uncles and me and my sibling splitting my mother's share (as she's already passed away). My portion has been set up in my name at Ameriprise. The Summary of my account says "Custd for *my name* INH IRA as bene of *grandmothers name* / Tax qualified *my name* Ameriprise brokerage account. The account was funded August 2021. The value has dropped from about $18k down to about $14k since that time. I am 40. What can I do with this? What am I supposed to do with this? The 'advisor' said I need to take it out within 10 years. Any adv...