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My Grandma left me money and I'm having a hard time deciding what to do with it.

Javthusiast

Javthusiast

Banned
I hear Adriana Chechick is regularly fucking her fans for her own content.

Put the money to good use and use her stretched out bootyhole.
 
SecretAgentHam

SecretAgentHam

Member
I've seen a few people here recommend investing in an S&P 500 ETF and that is honestly as good as the advice will get. It's the safest investment you can make (all investments are still risky but this is on the lower end) and it will absolutely grow over the years. Judge for yourself and take a look at stock tickers VOO and SPY. Look at the trends and the growth over 5 years. Keep in mind these tickers will also pay quarterly dividends that can be reinvested to grow your investment faster (compounding effect).

Aside from that, I would recommend that you don't spend money just because you have it. Make sure it gets put to good use in a way that increases your net worth and allows for you to create some generational wealth. Sorry for your loss but I hope you can make that money grow for your family.
 
Brazen

Brazen

Member
Have debt? That's priority, pay it off.
It's recommended you have enough liquidity saved to last you 3 months without income.
Then it's really up to you and it depends on the situations of the market.

We are in an era where the inflation money printer goes brrrr 24/7/365 with a booster shot on the side. As a non-professional advice, I wouldn't hoard. I'd look to invest in bearish markets if your feeling risky/rewardy or as stated by many before the S&P for safer gains.
 
Dr.Morris79

Dr.Morris79

Member
6kpDD3D.jpg
 
SteadyEvo

SteadyEvo

Member
Sorry for your loss OP. If you’re good on money I’d say just sit on it. Don’t do anything crazy or wasteful. Hold it for a rainy day.
 
F

FairyD

Member
Buy an heirloom that you can pass down to your kids. A nice watch, jewellery, a gold Nintendo, or a cheap useless piece of land. Something that is physical and that can be passed down to your children or successor.

Or just invest it.
 
Tams

Tams

Member
Unless you have something you really want to invest in in your life (side business, very serious hobby that could net returns), then invest it. The UK has ISAs, which are tax free, so whatever you have like that where you live. Then the rest in some good but safe (as they come) thing like Vanguard funds.

Perhaps put some in a rainy day fund (beware that it will almost certainly lose value due to inflation) and if you want you could dabble with a small amount in stocks and shares.
 
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Cyberpunkd

Cyberpunkd

Member
chixdiggit said:
Growing up I just assumed she had no money because my parents for real had no money as well. Turns out she just didn't spend any of it and I got willed a portion of it.
Click to expand...
You would be surprised how many people on the outside look like they don't have much, but are in fact millionaires. They just don't see buying flashy things as a measure of success. In most cases the less you look, the more you have. I personally know people driving Civics wearing watches that nobody can see under their shirts for $150 000. And they like it exactly this way.
 
ThatStupidLion

ThatStupidLion

Member
buy some btc or ethereum obviously. ( they are safest coins currently. you can put it in others, but their risk is much much greater)

its gifted money, so its not like youd miss it if it was gone, so dont need to worry if btc goes to zero.....and its too little to truly make any significant gains elsewhere, so crypto is your best value.

just remember if crypto goes way way way way down....DO NOT SELL.
 
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stn

stn

Member
Do something useful with it to properly honor her memory. Take a course in school, go travel, pay off some important bills, learn something new.
 
Alebrije

Alebrije

Member
How old are you OP?

If you are between 40-55 use the money to take the vacations of your life. Do no wait to be 56 or 60 since you will be weaker, your stomach wont support a lot of meals..vacations are for explore and the older the faster you will be tired of long flights, long walks,etc.

If you are younger save te money on a non risk investment like goverment bonus. And when have 40 take the vacations.

If you are 55 or more save the money for retirement or health issues.
 
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Uhtred

Uhtred

Member
My bastard grandfather who had so
Much fkn money, didn’t even leave me two cents! That mother fucker! I curse his fkn name! What a fkn dirt bag! I’ll never forgive that POS
 
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R

Rival

Gold Member
When the same thing happened to me I bought a place of my own because I finally had enough for an actual down payment. If she saved it all these years to pass to you and you don’t need it now then just put it away somewhere for a time when you do. Don’t blow it.
 
L

Le Big Mac

Member
Follow your grandma's example - sounds like a very Prudential and strong willed person.
Invest 20%, pay off part of mortgage (depends if you're comfortable paying towards it invest a bit more instead) and place the rest in a savings account
 
chixdiggit

chixdiggit

Member
Alebrije said:
How old are you OP?

If you are between 40-55 use the money to take the vacations of your life. Do no wait to be 56 or 60 since you will be weaker, your stomach wont support a lot of meals..vacations are for explore and the older the faster you will be tired of long flights, long walks,etc.

If you are younger save te money on a non risk investment like goverment bonus. And when have 40 take the vacations.

If you are 55 or more save the money for retirement or health issues.
Click to expand...
I go to Thailand every year. I would love to take even more vacations but do not have the time.
I just paid off a 6.9% loan I had. I have a car loan and mortgage but both are very low interest rates.
I work a full time job (40 hours a week). Great pay, benefits and I'm pretty set for a retirement with a 401K.
I also own and run a MMA gym. Purely a passion but it chews up roughly 25 hours a week.
I also have a side hustle where I print hoodies, t-shirts, etc out of my basement. I only take small orders and do it out of my basement while I watch football on Sundays.

I'm currently trying to explore ways to quit my full time job and fully work for myself.
 
M

Marlenus

Member
Pay any loans that are 3-4% interest or more. Then I would invest in a global all cap index tracker. Pretty safe long term and historically averages 6-7% per year after inflation.
 
G-Bus

G-Bus

Banned
Investing, saving, all good stuff. At the very least spend some on yourself. Life is short and shit happens quickly. Enjoy it a little.
 
M

MrA

Member
haxan7 said:
I'd splurge $2-3k at most on some nice things you want and then put the rest in mutual funds.

Watching it grow every day will be fun
Click to expand...
Good advice, a conservative low risk mutual fund invest, make a healthy return but put in little effort
Then when money is needed , it should have good liquidity
 
Paulxo87

Paulxo87

Member
you're grandma isn't a cheap ass she's smart..

I am 34 and have 110K sitting around I have no idea what to do with.. I managed to save this amount. I own a townhome which I believe the mortgage only has 100K on it left. No kids. No marriage. I have a 401K through my job however I wanna open up a second roth IRA and max it every january. I do not like risk.
 
greyshark

greyshark

Member
Paulxo87 said:
you're grandma isn't a cheap ass she's smart..

I am 34 and have 110K sitting around I have no idea what to do with.. I managed to save this amount. I own a townhome which I believe the mortgage only has 100K on it left. No kids. No marriage. I have a 401K through my job however I wanna open up a second roth IRA and max it every january. I do not like risk.
Click to expand...

Why do you want to open up a 2nd Roth IRA? Your overall contribution cap stays the same regardless of how many IRA accounts you have.
 
GeorgPrime

GeorgPrime

Banned
chixdiggit said:
TLDR: My grandma left me with some cash. I will roughly have $35K after taxes and paying some bills. What should I do with it? (Besides coke, hookers, or charity. All three would have her rolling in her grave).

My grandmother just passed away a month ago. Growing up she was absolutely the cheapest person I have ever known. She pinched every penny imaginable. For Example:
  • Would re-use paper plates and plastic utensils, often taking them home from functions.
  • Would re-use gift wrapping paper and greeting cards by cutting off the bottom where signature was to add her own
  • Would open and close bank accounts at any and every bank to take advantage of free gift for opening account. Would give those gifts away as Christmas presents.
  • Would take home free donuts and cookies that were given away at banks/picnics/events/etc, freeze them and serve for company.
  • She would take me and my siblings to Burger King, order off the value menu, but with one small soda cup to share between us all as it can be refilled for free. She would also bring in coupons for items she did not order and argue with the workers until she got the money taken off.
  • She worked as a nurse and would bring home any and all the food she could. She would make entire batches of peanut butter cookies from the little plastic single serving packs of peanut butter.
  • Nothing was bought without a coupon, rebate, sale, etc.
  • As her health declined she was moved into a nursing home. She fought, argued, and was angry at my Mom for this because "I would rather die today then give this shithole a cent of my money". (For the record place was not a shithole).
Growing up I just assumed she had no money because my parents for real had no money as well. Turns out she just didn't spend any of it and I got willed a portion of it. After paying off a personal loan (interest 6.9%) I will have roughly 35K of unexpected funds.
I have a mortgage and a car loan but both are very low interest and I have no problems making the payments. I also have a retirement account that is doing well and I contribute to it every paycheck.

So what should I do with this money?
Invest? In what?
I also thought about starting a business. Not sure what though. I already own a business but do it for the love not the money. So if I did start something it would be profit orientated.
Click to expand...

But a bitcoin now and wait for bitcoin to go to 100.000 lol
 
Paulxo87

Paulxo87

Member
greyshark said:
Why do you want to open up a 2nd Roth IRA? Your overall contribution cap stays the same regardless of how many IRA accounts you have.
Click to expand...

im' sorry. It's not a second roth ira. my 401k is just a traditional IRA.

So I would be able to fully fund both, correct?
 
greyshark

greyshark

Member
Paulxo87 said:
im' sorry. It's not a second roth ira. my 401k is just a traditional IRA.

So I would be able to fully fund both, correct?
Click to expand...


Sadly no, the cap is the same regardless of Traditional vs. Roth.

Retirement topics - IRA contribution limits | Internal Revenue Service

Information about IRA contribution limits. Learn about tax deductions, IRAs and work retirement plans, spousal IRAs and more.
www.irs.gov www.irs.gov

For 2022, 2021, 2020 and 2019, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:

  • $6,000 ($7,000 if you're age 50 or older)
Click to expand...
 
C

chrisrizzo

Neo Member
chixdiggit said:
TLDR: My grandma left me with some cash. I will roughly have $35K after taxes and paying some bills. What should I do with it? (Besides coke, hookers, or charity. All three would have her rolling in her grave).

My grandmother just passed away a month ago. Growing up she was absolutely the cheapest person I have ever known. She pinched every penny imaginable. For Example:
  • Would re-use paper plates and plastic utensils, often taking them home from functions.
  • Would re-use gift wrapping paper and greeting cards by cutting off the bottom where signature was to add her own
  • Would open and close bank accounts at any and every bank to take advantage of free gift for opening account. Would give those gifts away as Christmas presents.
  • Would take home free donuts and cookies that were given away at banks/picnics/events/etc, freeze them and serve for company.
  • She would take me and my siblings to Burger King, order off the value menu, but with one small soda cup to share between us all as it can be refilled for free. She would also bring in coupons for items she did not order and argue with the workers until she got the money taken off.
  • She worked as a nurse and would bring home any and all the food she could. She would make entire batches of peanut butter cookies from the little plastic single serving packs of peanut butter.
  • Nothing was bought without a coupon, rebate, sale, etc.
  • As her health declined she was moved into a nursing home. She fought, argued, and was angry at my Mom for this because "I would rather die today then give this shithole a cent of my money". (For the record place was not a shithole).
Growing up I just assumed she had no money because my parents for real had no money as well. Turns out she just didn't spend any of it and I got willed a portion of it. After paying off a personal loan (interest 6.9%) I will have roughly 35K of unexpected funds.
I have a mortgage and a car loan but both are very low interest and I have no problems making the payments. I also have a retirement account that is doing well and I contribute to it every paycheck.

So what should I do with this money?
Invest? In what?
I also thought about starting a business. Not sure what though. I already own a business but do it for the love not the money. So if I did start something it would be profit orientated.
Click to expand...
I've seen a few folks here suggest buying an S&P 500 ETF, and that is really the best advice you can get. The safest investment you can make will undoubtedly increase in value over time (all investments have some risk, but this is on the lowest end). Look at the growth and trends over the past five years. Remember that these tickers will also provide quarterly dividends, which you may reinvest to increase the value of your investment. In addition, I advise not spending money simply because you have it. In order to improve your net worth and enable you to generate some generational wealth, make sure it is used wisely. Sorry for your loss, but I hope you can make that money grow for your family.
 
Lady Jane

Lady Jane

Banned
Get into property. We have two houses and each are under a separate LLC and those LLC's are under a holding company, and we're working on a third. It is a lot of work to rent it out though. We're on the verge of hiring a realtor to do it for us. But holy moly, real estate is great and it's nice not having to rely on the stock market. Even if there's a housing crash, we have locked in rates and since the houses are under LLC's, we're personally protected. Always do your research on investments, it can save your ass.

Though you may want to sit on real estate for a year or two since the current market is shit. Whatever you do it with your money, increase YOUR estate. Living comfortably > being rich. You can live like a king for half a year with 35k if you're smart with it but will that really be worth it? Invest it, do your research.
 
Last edited:
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