How apropos! I just inherited 3 million bucks! what should I do with the money? Must have different advice as mine is 1 mill more than op....

OP:

Ignore the haters!
Please tell me how you were able to hit $2m and I will start right away.

I envy you so baddddly

yes, a car for DH if that's what floats his boat (just make sure it's one he'll keep for a while ). Down payment only, though! With loan rates still fairly low it doesn't make sense to tie up your capital.

It was a lot of work to earn that money. Not an inheritance.

Anonymous wrote:

Anonymous wrote:Brag, brag, brag to get some self esteem.

Damn, I was going to write the same words. OP is classless and definitely not humble.

So flashy cashy to brag on an anon site. Oh, the shame of it all.

Anonymous wrote:How old are you? Under 45, put at least 500K into investments immediately with the help of a financial adviser to get a jumpstart on retirement. Over 45, I'd double that figure. Don't buy a house yet, this market is stupid. Two million is NOT that much money even though I know it feels like it is. It will be gone like THAT if you start spending it now. How is your retirement now? What's your living situation like? Do you both work? Do you like your jobs? Two million could be a great jumpstart toward something new, but you are in no way set for life.

Thank you for that. Yes, it could be spent in an afternoon (real estate). It is going into retirement. Even when we think we are being careful, it can melt away. It is a lot of money, but not if we are not careful.

Don't immediately fund 529s unless you already have a HHI. You want to have as much sheltered in retirement accounts as possible. Set aside enough that you can max out IRAs and 401k contributions going forward, even if it means your paycheck dwindles to very little and you live off the capital. Encourage your kids to get jobs asap, then match their income into their own Roth IRAs. Money set aside for these goals is probably best off in a cd ladder.

Anything left after this should be set aside for a good down payment on a house, and yes, a car for DH if that's what floats his boat (just make sure it's one he'll keep for a while ). Down payment only, though! With loan rates still fairly low it doesn't make sense to tie up your capital.

Taxable investing should be the last thing on your list. It should be money you do not need at all for twenty years. Shove it all into the Vanguard total stock market fund and balance it with extra bond holding in your tax sheltered accounts.

I'd mark the occasion by doing a nice little splurge with the family--whatever that means to you. Reward yourselves!

I'd load retirement funds as much as legally possible, fund 529 college savings for each kid, put the rest in low cost vanguard funds. And the read a few books on the subject and talk with a no fee financial advisor.

How old are you? Under 45, put at least 500K into investments immediately with the help of a financial adviser to get a jumpstart on retirement. Over 45, I'd double that figure. Don't buy a house yet, this market is stupid. Two million is NOT that much money even though I know it feels like it is. It will be gone like THAT if you start spending it now. How is your retirement now? What's your living situation like? Do you both work? Do you like your jobs? Two million could be a great jumpstart toward something new, but you are in no way set for life.

I recommend giving it all to the long-lost relatives who will surely appear

Advice from Dave Chapelle: Diversify your bonds, nigga

Anonymous wrote:Brag, brag, brag to get some self esteem.

Damn, I was going to write the same words. OP is classless and definitely not humble.

Anonymous wrote:You just paid off the credit card expense? With 2M in the bank?? Why did you even have a balance on your credit card?

...because it was not there last week.

Brag, brag, brag to get some self esteem.

Anonymous wrote:

Anonymous wrote:get some dollar bills

Exactly. Bring them to the Champagne Room. Make it rain.

Thank you for making me LOL--I needed that today!