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Started By
Message
1
Posted on 2/21/18 at 10:51 am to GEAUXT
Not much, live of the interest and work part time.
Posted on 2/21/18 at 10:51 am to GEAUXT
I’d immediately quit working, I can tell you that.
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 10:51 am to GEAUXT
I'd pay down all my debt. Invest 200k into a college fund for each kid. Drop about 2mill into retirement. Buy a nice home in Rosemary Beach for probably 1mill. Buy a share in Grand Lake for 120k. Build a 150k camp there. Would leave me with about 750k liquid. I'd continue to work and live my life.
Posted on 2/21/18 at 10:51 am to GEAUXT
quote:
You inherit $5 million tax free, what changes?
Uhhh...everything?
Posted on 2/21/18 at 10:51 am to GEAUXT
Pay off house. Education funds for kids, nieces, nephews. Save, invest. Take care of parents, in-laws. Retire earlier. Travel a little. That's about it.
This post was edited on 2/21/18 at 10:53 am
Posted on 2/21/18 at 10:53 am to GEAUXT
1. Pay off debt/mortgage
2. Save 25% of remainder
3. Invest 50% of remainder
4. Give 15% of remainder
5. Splurge 10% of remainder (new truck, vacation, etc.)
2. Save 25% of remainder
3. Invest 50% of remainder
4. Give 15% of remainder
5. Splurge 10% of remainder (new truck, vacation, etc.)
Posted on 2/21/18 at 10:53 am to GEAUXT
I’d sow a seed and tithe off of it
Posted on 2/21/18 at 10:54 am to lsuhunt555
quote:
Buy a nice home in Rosemary Beach for probably 1mill.
you'd need to at least double that
Posted on 2/21/18 at 10:54 am to GEAUXT
A little remodeling. Longer/better vacations. More walking-around-cash in my pocket. That's probably about it.
Posted on 2/21/18 at 10:54 am to GEAUXT
Slight upgrade to home location. Not much bigger house, but nicer location. Travel more, when I want. Probably keep my job for at least a while. Maybe by a small condo in a skiing spot for only personal use.
Oh, and hookers and blow.
Oh, and hookers and blow.
Posted on 2/21/18 at 10:54 am to GEAUXT
$5million tax Free would be less than ive already inherited. I would have to cut back on some lifestyle choices.
This post was edited on 2/21/18 at 10:56 am
Posted on 2/21/18 at 10:56 am to GEAUXT
quote:
you'd need to at least double that
No I wouldnt. I stayed there in September for a wedding and one of the houses we stayed in was for sale for 1.4 mill and was much larger than what I'd want.
Posted on 2/21/18 at 10:57 am to GEAUXT
(no message)
This post was edited on 2/21/18 at 10:58 am
Posted on 2/21/18 at 10:57 am to GEAUXT
Posted on 2/21/18 at 10:57 am to GEAUXT
My wife would stay the same, but she would have enhancements
Posted on 2/21/18 at 10:58 am to Bustedsack
5 million ain’t what it used to be. Thanks Obama
I’d probably live the same life and retire a few years earlier.
I’d probably live the same life and retire a few years earlier.
Posted on 2/21/18 at 10:58 am to GEAUXT
I would pay off law school.
I would pay off my parents' house.
I would invest some of it.
I would save the rest for when I get out of law school and figure out what I am doing with my life.
Everything else remains basically the same.
I would pay off my parents' house.
I would invest some of it.
I would save the rest for when I get out of law school and figure out what I am doing with my life.
Everything else remains basically the same.
This post was edited on 2/21/18 at 11:00 am
Posted on 2/21/18 at 10:58 am to GEAUXT
(no message)
This post was edited on 2/21/18 at 11:00 am
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