Inherited $400,000, What Should I Do With It?
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Its intimidating
Pay your house off pay all debts
Do what Dave Ramsey says to do.
I think inheritance is very interesting. Should your kids inherit your money? Or is it un-fair. Should you be able to be born into riches??? Should your money just be deleted when you die??? Perhaps a cross-lifetime system could be introduced. I've read about some research on re-incarnation, people who claim to remember past lives. Apparently they could in many cases prove that their attested memories were real. Like, birth-marks on places where they had been shot etc. Perhaps, if you can prove that you are a re-incarnation of some rich person, that you could inherit that person's money?
The elephant in the room is caller's "business" that seems to have a lot of debt. IRS, car loans, huge CC debt, etc. They probably just need jobs since they're not terribly good business people.
Every time I ask where to put a lump sum , YouTube send me to investing. I just want to know where I’ll put until I decide what to do with it.
Obviously not in a check account.
Where?
Ok, so she can pretty much spend that entire inheritance on loans.
Ok that's gone, what's next ?
Why not invest the money (say like in a mutual fund), and use the interest from the investments pay down the debts..? So at the end, you have paid it off & still have the assets.
I made my first million in stock investment though I had some real estate I was dealing with at that time , I still dabbled into stock and it paid out in a short interval , I'm looking forward to what next!
Pay off any debts than investing 1/3 of the remainder if any left. Keep the remaining 2/3 for a rainy day.
Should keep the exposure to the foreign currency.
Dang- you just laid into her without knowing her whole financial picture. Calling her sloppy… that is messed up. I think you offer a lot of Greta advice on other videos I’ve watched, but I don’t know what happened this today to get you upset before this call.
you inherit money, 'pay debt'
literally eveyrone: 'GEEEEEnIuS
Why is she even calling? First thing you always do is pay off debt
i didn't inherit half of this but what i inherited i made double of this!
Fire mini gun for 12 seconds
Ramsey is always FIRM….but FAIR.
They will vaporize it.
Put into an annuity. They aren’t going to be disciplined enough to leave that cash sitting there in an investment.