Reply to If you know you’ll be inheriting a significant amount

Forum Index » Money and Finances

Reply to "If you know you’ll be inheriting a significant amount"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sadly, OP, I’m not sure that counts as a significant amount of money. It’s better than nothing, of course! Just live as if you expected nothing, because 1M does not go a long way, unless you invest it for your kids. [/quote]
You know what’s sad? People living in bubbles who think $1 mil wouldn’t significantly improve the lives of most people.  You all are so very clueless. [/quote
+1.  I was thinking the same.[/quote]

Same.  We are high earners and inheriting a million means we can payoff our mortgage early.  Our mortgage is our largest expense.  That’s huge.  [/quote]

I agree $1M is a lot of money,[b] but not many will still have a mortgage when they inherit. Ours will be paid off in our early 50’s. Our inheritance will most likely come in our late 60’s. [/b]As I’ve said upthread we don’t “count” on it for our retirement, but it’s fairly likely it will come and will provide a lot more cushion. We mostly plan to use it to increase travel expenses (including with our kids) and also to supplement them and their families. Plus of course they will receive it all when we die - it would be way to much to spend in a generation. [/quote]

Sounds like you’re in flyover (kids and mortgage by age 30) or don’t have a sub3% mortgage. [/quote]

Nope. Took at 15 year loan in 2016 at 2.5%. Nova. Anyone taking a mortgage by their mid 30’s will be done by mid 60’s with no acceleration though. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics