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invest inheritance
Posted on 4/28/17 at 2:57 pm
Posted on 4/28/17 at 2:57 pm
(no message)
This post was edited on 5/3/17 at 2:11 pm
8
Posted on 4/28/17 at 3:02 pm to ilikerrands2
No I haven't.
But I would take care of any debts (mortgage only in my case), save most of it, and have a little fun as well.
But I would take care of any debts (mortgage only in my case), save most of it, and have a little fun as well.
Posted on 4/28/17 at 3:04 pm to ilikerrands2
quote:it depends. How disciplined are you? You have to be honest with yourself. If "a little vacation" turns into you reaching in that money a lot, then I'd be careful. But if you know how to manage, then why not? But going on vacation with inheritance money kind of gives the wrong vibe
Is it wrong to take a vacation or have a little fun even though you don't have much in the way of savings?
As for the first question, no one can answer that without knowing more about your financial situation. But considering student loans have a pretty terrible interest rate in general, paying off wouldn't be a bad idea.
Posted on 4/28/17 at 3:06 pm to castorinho
quote:
going on vacation with inheritance money kind of gives the wrong vibe
the death was some time ago its just that the asset was liquidated a few weeks ago
Posted on 4/28/17 at 3:07 pm to ilikerrands2
Save the money on a financial advisor and just buy the boglehead 3 fund portfolio. I am not a fan of this approach but it's the same shite some mediocre asset manager will do for you for way more money. I bank with JP Morgan and they have the most mediocre investment products and the highest fees. Trust me google the boglehead forum and find the 3 fund portfolio, as far as diversification it's all you need with the least fees possible
Posted on 4/28/17 at 3:09 pm to dabigfella
I will check it out
Posted on 4/28/17 at 3:27 pm to ilikerrands2
If I got that much at one time, I'd be looking at real estate.
Posted on 4/28/17 at 3:29 pm to ilikerrands2
My wife did before I met her. It was all put in a trust she can't touch until she's 50 though.
It's not wrong at all to take a nice vacation with it. Life is to be enjoyed.
It's not wrong at all to take a nice vacation with it. Life is to be enjoyed.
Posted on 4/28/17 at 3:44 pm to ilikerrands2
quote:
Is it wrong to take a vacation or have a little fun even though you don't have much in the way of savings?
You can take a nice vacation for under 5K, so no it's not wrong.
Posted on 4/28/17 at 3:50 pm to ilikerrands2
While I didn't get anything close to your stated figure, I paid off my (smallish) student loan, stashed some, and split the remaining amount with my mother and aunt. It was an inheritance from their sister, so I wanted to share it with them.
Posted on 4/28/17 at 8:46 pm to hungryone
Same here, not $500,000.00 but paid off mortgage, student loans on two children and some credit card balances...banked and invested the remainder
Posted on 4/28/17 at 10:10 pm to ilikerrands2
If you have to ask, then you probably need to stick to paying off debt first
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