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Started By
Message
You inherit $5 million tax free, what changes?
Posted on 2/21/18 at 10:43 am
Posted on 2/21/18 at 10:43 am
I really think the only thing that would change for me is retiring earlier. I would not go make any extravagant purchases. I feel like I'd enjoy my job way more not having to worry about depending on that paycheck.
101
Posted on 2/21/18 at 10:44 am to GEAUXT
quote:
I would not go make any extravagant purchases.
bullshite
Posted on 2/21/18 at 10:44 am to GEAUXT
My car
My house
The number of vacations I take
Other than that, it would probably stay about the same.
My house
The number of vacations I take
Other than that, it would probably stay about the same.
This post was edited on 2/21/18 at 10:45 am
Posted on 2/21/18 at 10:44 am to GEAUXT
quote:
You inherit $5 million tax free, what changes?
I would move out of my parents' house
Posted on 2/21/18 at 10:45 am to GEAUXT
Agreed, I would probably get a fishing camp and keep working and then retire at 60 or so. I would definitely like my job more if I was not dependent on the paycheck
Posted on 2/21/18 at 10:45 am to GEAUXT
Busch Light tall boys ------> Coors Light tall
Posted on 2/21/18 at 10:45 am to GEAUXT
I might by a new car
Posted on 2/21/18 at 10:45 am to GEAUXT
quote:
You inherit $5 million tax free, what changes? by GEAUXT
The number/quality of women in my bed.
Posted on 2/21/18 at 10:45 am to GEAUXT
I have a 3 bed 2 bath house currently for me/wife/son/baby girl on the way
I would prolly buy a decent 5 bed/3bath house, nothing extravagant (budget like $750k)
Besides that, I would prolly hold onto the rest for now and take better vacations
I would prolly buy a decent 5 bed/3bath house, nothing extravagant (budget like $750k)
Besides that, I would prolly hold onto the rest for now and take better vacations
Posted on 2/21/18 at 10:46 am to GEAUXT
My golf membership fo sho
Posted on 2/21/18 at 10:46 am to GEAUXT
Not much except I'd pay off the mortgage which would free up a good chunk of cash each month
Posted on 2/21/18 at 10:46 am to GEAUXT
Retire at 50. Pull the trigger on the mountain home and ski my retirement away.
Posted on 2/21/18 at 10:46 am to GEAUXT
i will be without a relative...
...and doctors without borders will miss out on $5 mil
...and doctors without borders will miss out on $5 mil
Posted on 2/21/18 at 10:47 am to GEAUXT
my marital status
Posted on 2/21/18 at 10:47 am to GEAUXT
I'd quit my job and live off of the interest.
Posted on 2/21/18 at 10:48 am to IT_Dawg
quote:
my marital status
That would blow through at least 2.5 of that 5 million right off the bat.
Posted on 2/21/18 at 10:49 am to GEAUXT
You would never see me at work again. I have a modest lifestyle, so I could easily live on that along with what I already have accumulated.
Posted on 2/21/18 at 10:49 am to TheDrunkenTigah
quote:
bullshite
Not bullshite. I live a perfectly comfortable lifestyle. The feeling of knowing I could continue to do so without worrying about finances would be incredible.
All blowing the money on crap does is put you in the exact same position you were in before the windfall.
Posted on 2/21/18 at 10:49 am to GEAUXT
The third digit of my net worth.
This is the OT, son.
This is the OT, son.
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.
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