You suddenly inherit £100k, what do you do with it.

[boriz]

Invest, donate, spend???

 

[kerbiloid]

Convert into RUR

[Superfluous J]

Pay off my house, then put a down payment on a new one.

#OldAndBoring

[HebaruSan]

"Suddenly"? Does anyone "gradually" inherit money?

[SunlitZelkova]

Save it for retirement.

EDIT- okay, set aside some for continually upgrading my computer as necessary, but then save the rest for retirement.

Edited June 1 by SunlitZelkova

[AlamoVampire]

So I suddenly inherit $127,370.00 (£100,000.00)? Ok cool. Im taking that money and investing it in Allianz and let the money grow. After a set time passes I take that money and reinvest. Rinse, wash, repeat. 
 

I know its not flashy and not an instant gratification move, but ill bypass short term play for true long term growth.

022106012024

[AstroWolfie]

Convert to USD, and buy a Warhammer army.

[Superfluous J]

6 hours ago, AstroWolfie said:

Convert to USD, and buy a Warhammer army.

Yeah that amount would probably buy a lot of the figurines for sure.

[Nuke]

15 hours ago, AlamoVampire said:

So I suddenly inherit $127,370.00 (£100,000.00)? Ok cool. Im taking that money and investing it in Allianz and let the money grow. After a set time passes I take that money and reinvest. Rinse, wash, repeat. 
 

I know its not flashy and not an instant gratification move, but ill bypass short term play for true long term growth.

022106012024

yea, its not quite enough to retire on. investments, if done right, could turn it into enough.  but not well enough you could give up your day job. i could live on it for 10 years and dedicate all my time to developing an indie game with hopes of selling it to some bigger fish down the line notch style. of course im lazy and easily distracted and would probably never get it done. i could probably stretch that out if i put it into a trust fund, pay it out in 5k increments, and because its not a liquid asset i could claim that as my income and qualify for a bunch of subsidies. i'm lucky if i see 3k a year now so that would actually be a qol improvement for me. more likely id go on a death trip to vegas involving various kinds of debauchery and substance abuse eventually ending in my death, possibly before the money runs out. thats more my speed. doomed but going out with a bang. but that sounds like too much effort so id do the trust fund and quasi homeless thing for awhile.

also dont forget the irs is going to want a chunk of that too.

Edited June 1 by Nuke

[HebaruSan]

@boriz, could you by any chance add some zeroes to the number? This is pretty much a "deposit in savings account, continue as before" type amount.

[Nuke]

16 hours ago, SunlitZelkova said:

Save it for retirement.

EDIT- okay, set aside some for continually upgrading my computer as necessary, but then save the rest for retirement.

cant stress how ephemeral computer upgrades are. in 2-4 years you will be wanting a better one.

2 minutes ago, HebaruSan said:

@boriz, could you by any chance add some zeroes to the number? This is pretty much a "deposit in savings account, continue as before" type amount.

in that case trust fund, and just live middle class retired from there.

[kerbiloid]

4 hours ago, Nuke said:

cant stress how ephemeral computer upgrades are. in 2-4 years you will be wanting a better one.

So, you think that they will start creating KSP-3 now...

Maybe, maybe. The new videocards won't buy themselves themselves.

[Nuke]

1 hour ago, kerbiloid said:

So, you think that they will start creating KSP-3 now...

Maybe, maybe. The new videocards won't buy themselves themselves.

well they did before people started whining that people were mining on their gpus. i think my 2070 made me 5x what i spent on it, and it was my most expensive gpu purchase up to that point.

[BA-Forums]

Convert to USD, add zeros, go to Brisbane, and buy a Team Yankee army.

[magnemoe]

On 6/2/2024 at 1:19 AM, HebaruSan said:

@boriz, could you by any chance add some zeroes to the number? This is pretty much a "deposit in savings account, continue as before" type amount.

This, now it depend on the setting.  Back then I was an student it would been an masive change,  back after university it would help me get an apartment much earlier. 
Now paying of debt on second apartment. 

[boriz]

"could you by any chance add some zeroes to the number?" - Ok. You inherit $46,345,360 Zimbabwean Dollars...

Edited June 6 by boriz

[Turbo Ben]

This happened to me about 3 years ago when my father passed away. He raised me as a single parent, and I'm an only child, so everything passed to me. Closer to £200K after I sold the house.

I'd been investing a bit on the stock market before he passed. I seemed to be doing well so, after buying a new car, invested most of the money there. I made the decision to retire (I was 41 at the time) and hope to make enough to live on. Most of the money is in a stocks and shares ISA now, so don't have to worry about income tax or capital gains tax. So far, even through the turbulence of the last few years, all seems to be working as planned.

Honestly, my financial situation hasn't changed a great deal. I have more wealth, but the money I live on is about the same. The big difference obviously is that I don't have to work any more.

[TheSaint]

15 hours ago, boriz said:

"could you by any chance add some zeroes to the number?" - Ok. You inherit $46,345,360 Zimbabwean Dollars...

Cool, I was just thinking I could use a cup of coffee...

[Ryaja]

I'm buying stocks, metals, maybe real estate. I'd use earned money for pretty much everything else so by the time I retired I'd have heaps of cash.(Hopefully)

[kerbiloid]

On 6/7/2024 at 4:37 AM, Ryaja said:

I'm buying stocks, metals, maybe real estate.

 

Spoiler

Better convert into caps.

P.S.
Btw, we still don't know if somebody had seen the event... process... of the inheritance.
Any witnesses? Security webcams?

[Zozaf Kerman]

I convert it to 3,218,177,950 Vietnamese dong, and then film videos using the money to sell an online course to become rich.