I don't think it would be difficult at all to live the rest of your life on 5 million. Buy houses, live on the rental income. With 5 million you could buy enough that the rental income would provide more than you could need each month.
The ultimate irony of the situation, in my opinion, is that, by giving her the money, her grandfather turned her into a deadbeat herself. On a separate note, I'm sure I'll see her again in a year's time trying to figure out what happened to all of her money.
This should be good, keep us updated. What a fucking waste, grandpa didnt' sound very smart despite, of course that could have just been the old age. Clearly the man had money. Absolutely, just allocate money, budget, give your self a monthly allowance that is calcuated according to how many years left from 100 (assuming you don't live past it, ) and yeah, very managable. but that takes responsibility. See, the biggest problem here Masher is, you are thinking like a smart person wanting to make sound investment choices. I would do the same as would anyone here on WF. Now, put that money in the hands of a tool, who instead of budgeting, money managing, investing. Is going to blow it on $100k vehicles, multi-million dollar homes, vacation trips, living wild and free, and now that money begins to disappear quickly. ETA: and keep in mind, Zen mentioned that she already rejected advice to see someone who could help her, thinking she can handle the road alone. meaning she is going to fucking waste it. ETA: Grandpa should have given me the money, I would have made it grow.
Precisely True. It's frustrating to think that there are people out there doing that when I could be living a much simpler life with that money. And doing for free what I have to charge people now once I no longer needed the money. Lucky grandpa... and what would you do with the money?
Well, living in Ireland, where Euros are the currency, it wasn't so bad. ETA: I missed an opportunity to book a holiday there, didn't I? Damn it. Hindsight is a bitch.
As a bit of a continuation of my previous posts, I emailed one of my buddies in the wealth management center and asked him to give her a call in a few weeks to do a "check-in" and try to convince her to go see him. As much as she doesn't deserve it, I would like to help her out as much as possible so that she doesn't crash and burn. I'd hate to see a girl so young be out on her ass just because she wasn't old enough to understand that she needs help.
Sorry Mashers, was having lunch. Also needed to do a bit of research. I'm genuinely thinking of putting money into a CD or MMA. Anyways, Masher. First thing I would do would be to ask @Zerotonin the best way to invest my money or at least a referral Then doing some rough math, I would: 62/Y x 50k/P = 2,480k 5,200k - 2,480k = 2,720k - 520k (cushion) = 2,200k That leaves me 2.2 mil for investment, while having a fixed income of $40k/year with a 520k cushion. The Rest, I would talk to an investor, most likely CD or MMA, that allow me to live on off the interest, or invest in property, commercial real estate , Small Business, STorage Rentals, etc. House Rentals are okay, but you would need to make sure to have a high security deposit and make sure the renters are reliable, or even temporary in the case of college students. I live in a Medical College community. So it's pretty peaceful here.
No, I'm a Pharmacy Technician, may return to school someday for Pharmacy. Maybe, but $300k debit doesn't' sound appealing to me.
It's still medical. I like that kinda stuff. Psychology is what really interests me though. I'm not trained in anything like that, but my mum is a trained midwife and general nurse.
Out of those options, your best bet is probably either a long-term CD or rental properties. CD rates are on the rise right now, have been for a few months now, and rental property is usually a good choice simply because it's generally stable. Everyone needs somewhere to live, after all.
As a General Nurse, does she have to come up with the strategies they're going to use to fight diseases? How many stars has she earned as a General? Is she looking for new recruits? I may be interested in piloting one of those ships that shrink and fight diseases from the inside.
Sorry to disappoint, but my mum is retired and living on two pensions (one hers, the other my dad's) these days. She had me when she was 35, and she's now 66.
You're never too old to be miniaturised and injected into people's blood supply to fight cancer. That's the first rule of the Being Miniaturised and Injected Into People's Blood Supply To Fight Cancer Academy!
