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Message
re: You inherit $5 million tax free, what changes?
Posted on 2/21/18 at 10:49 am to GEAUXT
Posted on 2/21/18 at 10:49 am to GEAUXT
quote:
You inherit $5 million tax free, what changes? by GEAUXT
1.) I invest it safely and conservatively. Diversify
2.) Quit my job.
3.) Find a job that I enjoy doing - no matter how miniscule the task. It keeps income in and keeps your time fulfilled where you aren't constantly spending. Something where I can interact with people. Bartender, barista at Starbucks, personal trainer, etc.
4.) Buy a modest house where I'd want to live. Absolutely no more than $500, $600,000 thousand.
5.) Take more time off (due to low stress job), work on new hobbies - cooking, woodwork, etc. Travel some, visit family more.
5
Posted on 2/21/18 at 10:51 am to LSUbase13
That’s actually a solid strategy. I’d probably spend more on a house than $500-600, but real estate should always be considered an investment.
Posted on 2/21/18 at 12:14 pm to LSUbase13
I would pay off the current house that we just bought. I would then buy a nice cabin in the N GA Mountains or Gatlinburg and rent it out and then purchase a modest lake house. I would then quit my job and find something else less stressful and invest the rest of it.
Posted on 2/21/18 at 5:51 pm to LSUbase13
Correct answer
Posted on 2/21/18 at 9:03 pm to LSUbase13
quote:
1.) I invest it safely and conservatively. Diversify
2.) Quit my job.
3.) Find a job that I enjoy doing - no matter how miniscule the task. It keeps income in and keeps your time fulfilled where you aren't constantly spending. Something where I can interact with people. Bartender, barista at Starbucks, personal trainer, etc.
4.) Buy a modest house where I'd want to live. Absolutely no more than $500, $600,000 thousand.
5.) Take more time off (due to low stress job), work on new hobbies - cooking, woodwork, etc. Travel some, visit family more.
I could dig this except for some of the jobs you would look to do.
Posted on 2/25/18 at 6:46 am to LSUbase13
quote:
You inherit $5 million tax free, what changes?
I'd quit work and build my own house by hand.
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