I'm a guy in my mid twenties who can expect to inherit around a million dollars from my parents in the future. They're approaching retirement age now. The inheritance would come mostly through our family home, which is worth about 750,000 to 800,000 dollars along with some gold, and whatever other investments they have at the time of their passing after years of retirement. The actuarial tables say they should live around another 20 years but my parents are reasonably healthy so hopefully they live longer than that.I make about $60,000 and am moving out soon. I have been given full confidence the home will not be sold, reverse mortgaged, or otherwise squandered. The home is in a trust and I am the only beneficiary. My father has offered to help me out with around $100,000 in down payment assistance for my first home (perhaps through selling some of his retirement), or to just sign the home over to me and move out to the city when he retires and buy a condo (I would help with the payments).How should I plan for my financial future, with this inheritance in mind? And how can I best leverage my status as an only child to give my future self and family the best go of things? I would appreciate all your responses. I've only gotten into investing in the last year after starting my first job so I am new to managing wealth.
