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Reply to "Best use for 1.6 million inheritance "
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[quote=Anonymous]I was listening to a finance podcast this morning and then suggested setting it up in a trust and just living off the income- never touching the principal. 1.6 mil paying 3% interest would be almost 50k/yr before tax. They said this helps preserve the inheritance for future generations since most wealth tends to be spent by the 2nd or 3rd generation. [/quote]
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