Maybe a dumb question but I retired last April from fed government. I am over 59 1/2, have two teenagers who have plenty of funds set aside for their college. I used the TSP and sadly never opened an IRA. I have plenty of money in a taxable account and take occasional dividends to augment my very little pension.
I just looked in my taxable account and realize I have some money in my settlement account that I don’t really need at this time. Should I put $6500 into an IRA or just invest in my taxable acct? My current tax bracket is low and I most likely will have sizable inheritance in the future (nothing guaranteed but 99% sure) which will throw me into highest tax bracket. Of course it’s only 6500 but thinking I could just set and forget it for my sons someday.
Any advice appreciated. Thanks
