I just inherited 6 million dollars

amRam said:
Its not because Im bad with money, its because I have a different set of priorities. I'm not advocating he purchase a 4M villa, just a decent house he wants to live in and some land he can call his own- not the bank's.

The house isn't an 'investment' for future return, it's a roof over his head. Should the economy collapse and all his investments go to shit, he still has a place to live.
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if you are extremely risk averse and can't handle market ups and downs, then sure, do that, but its not the best use of the $ in this interest rate environment. and there's definitely a psychological factor to owning something outright.
 
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Eggi said:
if you are extremely risk adverse and can't handle market ups and downs, then sure, do that, but its not the best use of your $.
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Spending 1/10th of his inheritance on a house is hardly poor use of the money. You guys are weird.
 
Federere said:
Celebratory spliff stat
:bandit:
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for real, priority numero uno

celebrate, take it easy, and let it sink in for a while

I'm a financial planner and have seen plenty of people in your shoes who rush out to make a dozen impulsive decisions and blow their wad. The default seems to be to fuck it all up.

edit: celebrate isn't quite the right term for an inheritance, poorly worded
 
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amRam said:
Spending 1/10th of his inheritance on a house is hardly poor use of the money. You guys are weird.
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:shrug: assuming a moderate return of 7% vs a mortgage rate of 4% you're giving up over .5M over 10 yrs to buy a 600K house outright. Really comes down to how risk averse you are.
 
Eggi said:
:shrug: assuming a moderate return of 7% vs a mortgage rate of 4% you're giving up over .5M over 10 yrs to buy a 600K house outright. Really comes down to how risk averse you are.
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I'm just sayin that he can still invest in the markets with most of that money, but take a small fraction and put it into something tangible in case the worst happens. It's kind of like hedging, isn't it? He might lose his shirt in the markets but at least he'll still have a place to live, mortgage-free. Seems like a prudent decision to me, and I don't consider myself risk averse at all.
 
The two best pieces of financial advice anyone on here can give you:

1. Watch out for the selfish, greedy, ultra-materialistic gold diggers.
2. If you do make the mistake of getting married, ALWAYS demand a prenup! No signature, no marriage.

Not even another great depression will financially ruin you as fast and as deeply as a woman.
 
Whoever said you cant live off of $6M is a fucking moron and has no idea what they speak of nor probably had any sizable amount of money in their lives so they have no experience.

If invested wisely, you can easily live off the DIVIDENDS/INTEREST of that investment, get something that pays 3% annually and you are getting $180K a year pre tax.
 
Peter_2000 said:
The two best pieces of financial advice anyone on here can give you:

1. Watch out for the selfish, greedy, ultra-materialistic gold diggers.
2. If you do make the mistake of getting married, ALWAYS demand a prenup! No signature, no marriage.

Not even another great depression will financially ruin you as fast and as deeply as a woman.
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This.

Tic said:
Whoever said you cant live off of $6M is a fucking moron and has no idea what they speak of nor probably had any sizable amount of money in their lives so they have no experience.

If invested wisely, you can easily live off the DIVIDENDS/INTEREST of that investment, get something that pays 3% annually and you are getting $180K a year pre tax.
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And this.


// end of thread //
 
1. get your dick sucked real good
2. financial planner visit
3. return that piece of shit alienware laptop and buy a real fuckin computer you turd
4. repeat step 1
 
Tic said:
Whoever said you cant live off of $6M is a fucking moron and has no idea what they speak of nor probably had any sizable amount of money in their lives so they have no experience.

If invested wisely, you can easily live off the DIVIDENDS/INTEREST of that investment, get something that pays 3% annually and you are getting $180K a year pre tax.
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Fuck off. I said "retire". The guy is maybe in his late 20s.

You're assuming he gets the whole $6M net.

You're assuming there aren't some big purchases he intends to make in the first year.

You're assuming $180K is significantly more than his current or predicted income as a doctor-to-be.

What is this magical investment that "pays 3% annually"? Do you have any fucking idea what you're talking about?
 
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