Need tax advice!

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This topic contains 0 replies, has 1 voice, and was last updated by  meca878 1 year, 2 months ago.

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    meca878
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    I am a 52 year old female that became disabled with Rheumatoid Arthritis back in 2012. I had worked @ a hospital for 25 years as a cardiac cath tech. Luckily I had a private disability policy through my employer that I had paid for. I also applied and was accepted for government disability. This is where my problem arises. I recently had to take a payout on my private policy. I received about 180,000. I paid everything I owed and now I have 125,000 left. I haven’t paid taxes on the money and I have a daughter in college that has gotten government loans the past 2 years for her tuition. My question is what would be the best way for me to invest the remaining money to better my daughter’s help with the FICA this coming year? It looks like I have all this money to play with but, in reality, I have to live off this money until i’m 55 and can get my retirement. I’m so afraid the government is going to take all my money and not give my daughter the government loans! Does anyone have any ideas on what I can do? Also,I need to be investing in some of it too. Please help, i’m so worried! Thank you!

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