What to do with 2 million dollars?

[Anonymous]

Anonymous wrote:Half of it to inheritance tax....

exclusion is $5MIL. stop whining.

[Anonymous]

there is only inheritance tax in 8 states. One of them is Maryland which excludes at least the first million if not more depending on other things. And even then it is only 16% of the taxable amount.

[Anonymous]

If you have to ask what to do then you don't need it. Gift it to an intelligent person who will donate to deserving causes and invest wisely.

[Anonymous]

Anonymous wrote:If I inherited a big sum of money tomorrow, here are the smart and practical things I would do:

- down payment on a house that is bigger than the apartment where I currently live
- pay off my debt (about $15k total)
- pay off my siblings' student loan debt (about $10k total)
- $10k gift to my daughter

And then there are the emotional and less practical things that I would also do:

- $500 in $20 bills, given out to the people I see every day on the street begging
- $100 in the tip jar of the coffee place I go every morning
- go on an actual, real, extravagant vacation with my daughter
- replace all my underwear and socks

I find this all very adorable. I like you, PP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If I inherited a big sum of money tomorrow, here are the smart and practical things I would do:

- down payment on a house that is bigger than the apartment where I currently live
- pay off my debt (about $15k total)
- pay off my siblings' student loan debt (about $10k total)
- $10k gift to my daughter

And then there are the emotional and less practical things that I would also do:

- $500 in $20 bills, given out to the people I see every day on the street begging
- $100 in the tip jar of the coffee place I go every morning
- go on an actual, real, extravagant vacation with my daughter
- replace all my underwear and socks

I find this all very adorable. I like you, PP.

Thanks! It's actually the honest list. I would not live my life any differently than I do now. I would just do those things, which would make some things a little easier for me and also other people.

[Anonymous]

What to do with 2 million dollars?

One word: Hawaii.

You can talk about how you'll invest the rest while on vacation.

In all seriousness, get with a certified financial planner. Keep in mind that life insurance is a great way to preserve wealth for your children.

[Anonymous]

Anonymous wrote:What to do with 2 million dollars?

One word: Hawaii.

You can talk about how you'll invest the rest while on vacation.

In all seriousness, get with a certified financial planner. Keep in mind that life insurance is a great way to preserve wealth for your children.[/quote

How?

[Anonymous]

Anonymous wrote:How?

How what?

I typically take a plane to Hawaii.

But if it's life insurance you're talking about, best to talk to your financial planner. S/he can explain it to you in a way that suits your needs.

[Anonymous]

Anonymous wrote:What to do with 2 million dollars?

One word: Hawaii.

You can talk about how you'll invest the rest while on vacation.

In all seriousness, get with a certified financial planner. Keep in mind that life insurance is a great way to preserve wealth for your children.

This sounds like the best plan to me