He owned a patent and trademark law firm and a ton of property
Everything goes to my father and me
Im horrible at money. I don't even have a credit card
I might continue working casually in a small town hospital but I definitely need to get the fuk out of Philly first
historically, the S&P500 has returned 10%. There are better investment options with that kind of money, but you could just do the dumb thing and throw it in a mutual fund that tracks the S&P and be good to go
pull out 80k as downpayment on new house to get more favorable rates
take 1.5 mil and let firm manage it (invested in tech and health), and then forget about this money until you're 50.
put the rest into semi-liquid, short and long term accounts, etc. make it accessible to different levels, but inaccessible enough that it's a bitch to spend without some paperwork/few days delay.
plan on pulling 10k/yr for a nice trip or something.
now get back to working like you don't have any money and live a nice, comfortable life with your shit together without excess. make your own coin.
at 35, now that you're a little smarter, but still healthy enough to have fun, evaluate your finances and figure out how to maximize the amount of enjoyment you will get out of your money before death.
Lol retard.
Pay your house off. Do not carry any debt. Then invest and fuck all with it
Actually, the opposite. Almost every millionaire/billionaire has a mortgage. There are a lot of tax reasons for doing that, as well as the fact that you have access to money markets that are a far more lucrative use of your funds and you can negotiate a ridiculously low interest rate on the house.
My grandfather died now in morning
I finished residency already and I started a fellowship but I'm quitting that ASAP
Philly is the worst fukin city to live in so I'm getting out of there
That's about all I did so far
I have like 170k in debt that I'll pay off
I'd secure a roof over my head, first and foremost. Seems like a no-brainer decision to me- buy a house outright first, invest the rest.
honestly all this stuff is over my head
i'm just going to have to talk to a financial planner
i just bought a fukin alienware gaming laptop
Amazon.com : Alienware ALW17-8751sLV 17.3-Inch Gaming Laptop : Computers & Accessories
I'd secure a roof over my head, first and foremost. Seems like a no-brainer decision to me- buy a house outright first, invest the rest.
Lol retard.
Pay your house off. Do not carry any debt. Then invest and fuck all with it
that's because you're bad with money
30 yr mortgage is <4%
Better to put down minimum amount to secure favorable rate (20% so you dont have to pay PMI) and invest in something that gives better returns as Narmf mentioned.
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.