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06.02.08, 12:29 PM General Topics
32 replies
OK, I'm dying to tell someone this so anonymous board-here I go. Just found out we inherted close to a million dollars. Totally unexpected! I'm beyond excited but also freaked out that we'll screw up and not take the best advantage of it. We don't want anyone to know our business, so we've not told anyone-except now all of you! [ Reply | Watch | Flag ]
General Topics 06.02.08, 12:29 PM Flag
 

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who from? [ Reply | More ]
General Topics 06.02.08, 12:30 PM Flag
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immediate family member who died recently [ Reply | More ]
General Topics 06.02.08, 12:30 PM Flag
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sibling or parent? Did you know they were wealthy? [ Reply | More ]
General Topics 06.02.08, 12:32 PM Flag
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see below! [ Reply | More ]
General Topics 06.02.08, 12:33 PM Flag
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unexpectedly? you have just given me fantasy fodder for months. what's the back story?? [ Reply | More ]
General Topics 06.02.08, 12:30 PM Flag
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The person who died had a hell of alot more money that we had ever imgained. He had been saving quietly and living pretty meagerly for years. We had no idea how much were in his accounts. We're getting close to a million and that's AFTER splitting with other family members! [ Reply | More ]
General Topics 06.02.08, 12:32 PM Flag
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Yay! How wonderful. Enjoy. [ Reply | More ]
General Topics 06.02.08, 12:34 PM Flag
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Thanks! It is pretty exciting but I can't tell anyone! And of course it's horrible because the person died so I'm supposed to be all sad. But OMFG, we don't have to worry about college! We had met with a financial advisor who said we were WAY off in our savings for college-LOL. Guess not now! [ Reply | More ]
General Topics 06.02.08, 12:36 PM Flag
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Was it a close relative? You sound so selfish. [ Reply | More ]
General Topics 06.02.08, 12:37 PM Flag
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are you kidding? the guy's dead. he might as well be dead and leave her a million dollars. [ Reply | More ]
General Topics 06.02.08, 12:39 PM Flag
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"I'm supposed to be all sad" - so $1 million made you not sad anymore?? [ Reply | More ]
General Topics 06.02.08, 12:41 PM Flag
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That sure as hell would be a silver (literally) lining for me. My relatives would be happy to know that the inheritance made my life a bit easier. And my grief balanced by some good news. (not op) [ Reply | More ]
General Topics 06.02.08, 12:43 PM Flag
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No she doesn't. [ Reply | More ]
General Topics 06.02.08, 12:40 PM Flag
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thanks. I actually didn't have much of a relationship with them, but I'm sad because they died and because they suffered. But honestly, between UB and me, I'm really distracted by the million... [ Reply | More ]
General Topics 06.02.08, 12:44 PM Flag
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Are you going to take a lavish vacay? [ Reply | More ]
General Topics 06.02.08, 12:30 PM Flag
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don't tell anyone you know. They'll all want a piece of you. Haven't you seen any of the 20/20's on people who won the lotto? one guy killed himself and the other's lost all of their friends. Continue to keep it to yourself! [ Reply | More ]
General Topics 06.02.08, 12:32 PM Flag
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honestly, this is exactly how we feel. We're putting most of it away for the kids etc. and we are getting a financial advisor to help us figure out how to do it [ Reply | More ]
General Topics 06.02.08, 12:33 PM Flag
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Oh my gosh, be careful even with the financial advisor. Remember, at the end of the day their number one goal is to make money for THEMSELVES, so try to get unbiased advice...does anyone in your family who also inherited know about money? Try to look somewhere for advice without actually paying someone unless the person you're seeing is reputable. DH worked as one for a short while and quit because he was disgusted with how greedy the guys were [ Reply | More ]
General Topics 06.02.08, 12:38 PM Flag
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Also, my mother who knows nothing about money had a financial advisor recommended to her and the guy would move money around in accounts and poor investment decisions to make money for himself, while costing her big time [ Reply | More ]
General Topics 06.02.08, 12:39 PM Flag
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I know. We really liked the guy we were using before but we'll have to see. I think he's probably ok because he we pay him an annual fee and I think he does not get commission. The other people inheriting don't know yet and iaren't getting as much as we are. [ Reply | More ]
General Topics 06.02.08, 12:40 PM Flag
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other than paying off debts, don't do ANYTHING for about six months. Really think about what the best approach is before you waste it on crap. [ Reply | More ]
General Topics 06.02.08, 12:32 PM Flag
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WOW! good for you. that has to be jaw droppingly exciting. [ Reply | More ]
General Topics 06.02.08, 12:32 PM Flag
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my thoughts exactly! [ Reply | More ]
General Topics 06.02.08, 12:47 PM Flag
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DON'T, DON'T, DON'T spend down the principle - if you spend *any* of the money, just spend the proceeds from investments. for instance, if you invest wisely in bonds and get 5% interest rate (which is a low estimate), you can spend $50,000 a year without touching the principle. [ Reply | More ]
General Topics 06.02.08, 12:42 PM Flag
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This is the best advice [ Reply | More ]
General Topics 06.02.08, 12:44 PM Flag
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5% after tax is not low. [ Reply | More ]
General Topics 06.02.08, 12:45 PM Flag
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this is what we want to do. We'll probably spend a small amt of the principle for a house and then leave it alone. it gives me a headache to think about this though! [ Reply | More ]
General Topics 06.02.08, 12:46 PM Flag
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np: Don't worry, you sound like you are in the right mindset. You won't mess it up. Congrats, enjoy the security, and truly, don't tell people. [ Reply | More ]
General Topics 06.02.08, 12:50 PM Flag
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thanks! and thanks for letting me share the news! It's nearly impossible not to shout it from the rooftops! We literally had NO idea. [ Reply | More ]
General Topics 06.02.08, 12:52 PM Flag
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np: you are a smart women! OP-listen to this and you wont go wrong! Congratulations on the new found wealth. [ Reply | More ]
General Topics 06.02.08, 12:47 PM Flag
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thanks. we're planning to continue living within our current means (maybe an occasional splurge!) and hope that our kids will be able to use it for their retirement too! [ Reply | More ]
General Topics 06.02.08, 12:50 PM Flag
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very wise not to tell anyone. bank it and wait for a month before spending any of it. In that month make a list and debate the merits of how to spend. find agreement before you do. good luck [ Reply | More ]
General Topics 06.02.08, 12:45 PM Flag
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