'A promise I would invest the whole amount'
'A promise I would invest the whole amount'
John Ireton-Hewitt reinvested his inheritance and plans to watch it grow.
John Ireton-Hewitt
Age: 73
Hometown: Chambersberg Pa.
Inheritance: $150,000

I recently received $150,000 after my uncle died, and my brother received the same amount. I was overwhelmed. I spent a quiet evening that day, remembering my uncle and his accomplishments and toasted him with a drink of Irish whiskey. A part of that toast was a promise that I would take that inheritance and double it by investing the whole amount.

I invested it in municipal bonds with a tax-free dividend and set it up to reinvest the dividends. My brother went out the following week and bought a new car and paid cash for it. I then talked to my brother and showed him how he could have invested the money the same way I did and he could have bought the car and financed it and made the payments from the dividends and after five years, he would have both the car and the inheritance.

By Jessica Dickler, staff writer @CNNMoney - Last updated May 14 2012: 11:55 AM ET
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