What Would You Do If You Suddenly Had a Check for 750k?

a reply to: Another_Nut

I know everyone on the internet is good looking, rich, and famous. Found mine 21 years ago and haven't looked back. And the sympathy card gets none, way to fail

First thing I would do would be to donate at the minimum of 10% to homeless shelters. It's what I would do anyway. I am still homeless myself off and on. I am drug free too. It's my age and the hardness of jobs that gets me. I just cant do it day to day anymore. I try very often to work, but most jobs for me are difficult as all hell anymore. After a few days I can barely move.

Not looking for sympathy here either, just saying there are people in need out there and if I had the money well i would help.

Pay it forward is the best policy IMHO. And i wish i could. By God i wish i could!

originally posted by: Reallyfolks
a reply to: Another_Nut

I know everyone on the internet is good looking, rich, and famous. Found mine 21 years ago and haven't looked back. And the sympathy card gets none, way to fail

actually im poor homeless and good looking. and you can see my latest girlfriend in my pics .

and what a coincidence she was 21 when we started dating

winning

o wait i think you ment you have been with someone 21 years. ouch

cant look back huh sounds like you got with a BIIIGGG girl

to each their own

originally posted by: Reallyfolks
a reply to: Another_Nut

I know everyone on the internet is good looking, rich, and famous. Found mine 21 years ago and haven't looked back. And the sympathy card gets none, way to fail

actually im poor homeless and good looking. and you can see my latest girlfriend in my pics .

and what a coincidence she was 21 when we started dating

winning

o wait i think you ment you have been with someone 21 years. ouch

havent looked back huh sounds like you got with a BIIIGGG girl

to each their own

a reply to: Metallicus

My general theory would be to not let something new (they money itself, an investment, a huge lifestyle change etc) that I didn't know I could count on replace a life I already had stability in. Instead I would use it to enhance the best and most stable things in my life. I believe that in general the longer you hold any non-tangible wealth, the more likely it is that you'll end up with nothing, so it's best to physically possess durable things that you directly benefit from.

If I had a home I was happy in, I would probably plan an upgrade schedule to improve the comfort and avoid future expenses after the money has run out, and maybe get legal help ensuring I could pass it along easily when I'm gone.

If I had a business that was supporting me I would improve its efficiency or expand it.

If I had kids I'd probably spend as much on their current education as I set aside for college. Etc Etc.

Also I would divide it up, no more eggs in one basket than 1/3 to my top priority, 1/3 to my next priority, 1/3 held back for any unexpected expenses arising from the first two investments or the inheritance itself, then after I saw stability there I would budget the remaining third over a certain period of time- say maybe an extra 1500/month for 15 years to give myself gifts that will keep on giving, like better dental care, investments in shared hobbies, bribing police officers, etc.

Hey, sorry for your loss and I hope all is ok.

The first thing you should do is book a long weekend at a Caribbean beach. Give yourself some time to think and what your next move in life should be.

Look into real estate.

a reply to: Metallicus

Leave the country asap to maybe ...Kuching, Maylasia and live off that forever and never work again unless its something you want to do.

Act like it's a very small sum, pay off debt, live within your means based off what you make (including interest from what you invest). Don't think it will last forever and start giving it away.

Buy land, and make it as beautiful and self-sustainable as possible as time marches on.

a reply to: Metallicus

Buy one million matchbox cars.



Oh and I almost forgot, don't tell the socialists.

Doh!

Pardon the lightheartedness, I figured it would be more helpful.

a reply to: Metallicus
What did your mother care about? Do something that expands her love. Did she care about gardening? Start a community crop share. Did she care about single mothers? Start a scholarship. What a sweet woman, to hide her generous intent during life, but reveal it afterwards. I bet she had a good sense of humor.

Whatever you do, let it be generous, and name it after her.

a reply to: Metallicus

]m sorry for your loss.

Ive always said that if i came into that kind of money i would help the homeless.

Buy a run down hotel or large house and convert it.

I would play the stock market everyday with a 100k. Doing penny stocks. I would treat it like a full time job.
Once you do a bit of reading and understand how they work, you can make A LOT of cash doing day trading

I'd buy equipment that allows me to be self sufficient as a priority. Recycling water supply, irrigation system for a vegetable garden, generators, chickens, solar panels etc. If the economy completely goes toe up you'll still be OK.

After that I'd spend it on whatever. Be careful though you can burn through that amount a lot faster than most people would think.

Put the money into savings, do not spend a dime for at least one year. The accumulation of interest should be enough for one to live off of until; one gains an education, preferably in finance, economics and/or business. An accounting education would prove valuable, why pay someone to rob you? After one is educated, then decide what to do with the money. Patience is the biggest friend one has when they come into a large sum of money. The feelings of wanting to spend and give will subside within the first year, after one gains an education, the feelings will be under control, time is a virtue.

Making a decision involving large sums of money is something one should do after their feeling have become under control. When one gains sudden 'wealth', it is always best to wait a period of time before making any decisions. The same with after a death, my condolences. The human mind and body takes time to recover from emotional changes, which, both sudden wealth and death inflict.

While it may seem like a good idea to invest money at this moment, it is not. Put the money into a high interest savings account and do not touch. The best advice is to wait at least one year, the longer the better. Get yourself educated while waiting, knowing how and what to do with your money will be your responsibility whether or not you have an accountant. Remember, money causes people to do evil things and there will be those out to take it.

Good luck to you, my condolences again, and take your time!

I forgot to add, after gaining an education, one will have a better 'idea' of what to do. BUT, the one thing with having a large sum of money is, if one uses it correctly, wisely, and with the proper intent, they can change not only their world, but the whole of the world. It all depends on one's motivations, goals, and greed(s). One can fulfill a 'bucket list' or dreams, but, they can also 'use' said money as a 'means'.

Not to rant, but, I get frustrated when I read these posts, "What would you do if you had '' amount of money?". Every post is the same, donate, invest, pay of bills, blah, blah, blah. Yes, it is fun to think about, but, Why not do something that one thinks that they cannot?

Money makes the world go around, does it not? Money puts people into positions of power, does it not? Money has the ability to transform a person from one thing to another, does it not? Money has the power to change the world, does it not?

So, why not use said money to do something one thinks that they cannot do? Change the world, change the country, change something. Change will not come if people simply continue to focus on selfish change, will it?

Sorry for the rant, did not mean to ruin any fun, just trying to make a point, as this is one of the few spots people listen, not always take action, but listen (no offense, motivation). Change the world, not just yourself!

-Perspective of a Sociocultural Anthropologist-

Thank you to all that responded to this thread. I tried to star everyone for their feedback and kinds thoughts. I really liked many of the suggestions...especially the ones regarding land and self-sufficiency. I wish my wife was willing to live in the woods somewhere. That would be awesome.