Now what? I'm receiving pic related, another 20k that was in his bank account, and an unknown amount coming from his pension and life insurance. I've never had more than a couple thousand dollars to my name before. Already paid off my credit card debt, plan on taking care of my student loans (~30k) and buying a reasonable used car to last me (~25k)But then what? How do I make this last? Not interested in crypto, metals, or boomerstock advice, but if you have other financial advice to turn this into something that can maintain a comfortable lifestyle, id love to hear it. I don't want to waste his money. My current job is barely over minimum wage, for reference.
Also should mention that due to the way it's taxed, my (his former) financial manager recommends that I don't pull out more than 20k a year before I force myself into higher income tax brackets. Not required advice to follow, but recommended
>>62162748Buy at least 1 BTC
>>62162748>I don't want to buy any major asset classes, please help me lose this money gambling on options or leveraging into real estate or something [???]What the fuck are you asking exactly OP? Get a high interest savings account and some 10y treasuries I guess lmao
>>62162748>>62162762Your financial manager is probably a good source, with the exception that his incentive is to push complex, high-fee products so watch out for that. Paying off debt is a solid strategy, especially if you're inexperienced and/or cash rich and income poor (you are both).Think about what you want you want to do with your life. That's enough money to go to a good state uni, especially with scholarships etc if that's what you want. Don't ever invest in anything you don't understand, never invest more than you can afford to lose financially or psychologically.The typical advice is if you are using stock holdings to set a budget, you should only ever budget against a 4% withdrawl rate. At 200k in capital, that's ~8k a year in budgetable income.Don't use options or leverage until you know the math by heart.
>>62162748Damn when my dad died I lost money paying for his funeral
>>62162748sorry for your loss, don't take investment advice from here
>>62162748youre going to piss $25k on a piece of shit. this money will be gone inside of a year
>>62162748My dad left me three times that. And that's after splitting with my sister and paying for all the burial/end of life bullshit
>>62162813This. Get the 2004 camry anon. If it dies (unlikely) you can buy another one, and if that one dies you can buy one after that, and still be within your $25k budget.
>>62162748> (~25k)Horrible decision. Get a $3k civic instead. $5k top
Same hereI will probably invest it into a mixed portfolio between index funds, gold(not physical) and high yield saving accounts, with a small high risk portionThought about a dividend portfolio but kinda looks like wasted potential? Maybe later when the portfolio has a decent size to actual generate dividends that make a difference
you want financial advice, but nothing about how to invest it. i don't know. i guess buy some magic beans. realistically, what you do with it depends on your age. the longer time horizon, the greater risk you can take on with investing. if you're in your 20s I wouldn't hesitate putting it all in an index fund like VTI or a random s&p 500 index. the older you are, the less risk you'd want to take on. if you still have student loans and making such little money, i'd guess 20s.
>>62162748buy gold and silver. if you want crypto, wait until after microstrategy goes bankrupt and then buy ETH around $1k.
>how do I make this lastWell in the first place, probably don't immediately spend it all on used cars lmao>not interested in crypto, metals or stocksWhy are you even here thenAre you dumblike your broke fucking father
>>62162748>My current job is barely over minimum wage, for reference.Okay your first quest- get a better job
Play it safe, seriously. Actually talk to a pro instead of getting advice from street shitting jeets here who want you to buy their coin.
>>62162997buy my coin
>>62162748Really sorry to hear about your loss, I hope you two had a good time together and that you will only have good memories of both of you, family is everything if done right.That said, don't take financial advice from here. But if you want to know. Pay down all debt, buy a cheaper car. What I do is: 70% of my portfolio is divided into 50% NASDAQ 100, 30% eu stock 50, 20% emerging markets. Of the remaining 30% I go half for individual stock picks and BTC.
>>62162748sorry for your losspay debt then sit on it for six months and think and researchyou do not need a $25k car..... this is a very poor potential decision.. see previous sentenceas you consider in the six months, look into:an apartment or house if you can comfortably cover it (30% of your pay check)index fundsretirement products
>>62162748What is the interest on the loans? I didn't pay off all mine when I got dead dad money, just the high interest ones. Otherwise its better to put the money to work if the interest rate is like 4 percent.
>>62162806>>62162810Damn bros... I wish my father was still alive.
>>62162748>Not interested in crypto, metals, or boomerstock advice>boomerstock adviceRIP ngmi. [spoiler]Unironically put it in an index that tracks S&P 500 and contribute to it over the course of the next decade or two[/spoiler]
>>62162748>taxedwhat kind of shithole state do you live in where you get taxed on inherited stuff?
>>62162823Well my dad left me ten times that and he died in a cooler way than yours
>>62162748Idk nigga I’d probably put 90% in some dividend growth vanguard fund and the rest I’d gamble on cryptocurrencies. Buy Toshi my nigga.
>>62162823My dad is leaving my 30 million
>>62163197You could have an aging father with whom you have a loving relationship, yet live almost 2,000mi away from LOL :(
whatever you do dont stop working, because 100k is not enough to maintain a comfortable lifestyle. if youve been putting off retirement contributions you may want to consider starting that again. and lastly you should consider some sort of investment in yourself to get a higher paying job, whether thats school or some sort of trade school, whatever. making only barely above minimum wage is going to be the biggest threat to your windfall
dude you could buy so many burgers with that money.
>>62162748Sorry to hear that. My dad's 82 and isn't doing too well...
>>62162748>fed dad>retarded sonlol checks out
>not interested in crypto, metals, or stocks Lmao. Uhhh I guess just put it all on red and see what happens
1. Open a Roth IRA2. Transfer $75003. Buy $3000 of $VTI4. Buy $2250 of $VXUS5. Buy $2250 of $VBTLX6. DO NOT TOUCH IT EVER7. Repeat every year
>>62162762Get a completely different financial advisor fast
>>62162748>durrrrr I wanna make money>durrrrr no stocks, crypto, or PMs pleasebuy some kneepads and then shove the rest up your ass I guess retard
>>62162803kek. you should just go invest your generational wealth in spaxx, OP
>>62162748Don't forget an emergency fund. 6 months of expenses in a HYSA, or a CD if you're feeling ballsy (ladder this).If you can eliminate all your debts and get an emergency fund you'll be doing very good for yourself.
>>62162748rip to dads who died
>>62162748This is 5% of what you need to retire for life, at least on a risk-adjusted basis. It will go by fast. Get a Roth IRA. Put anything else on the S&P. Then continue your life as usual. Don't touch this money unless absolutely necessary.
>>62162748PUT IT IN SAVINGS. You can pay off debts, but consider passing on the car unless you need it. If you've been getting by without it, then maybe don't bother. Oh, and also DON'T SPEND IT ON SHITCOINS THAT PAJEETS ARE SHILLING ON /biz/. Sorry about your dad.
>>62163729>bonds and foreign markets in 2026
>>62162748>plan on taking care of my student loans (~30k) and buying a reasonable used car to last me (~25k)both of these are dumb ideas. for >>62162762oh shit you got good advice then. Yeah don't pay off the student loan let them garnish wages or some shit and don't buy a fucking car. You should roll it all over into some index with vangaurd or something to get comfy dividends. It's not a whole lot really. Options and Leverage would blow you the fuck out so stay away from that unless you're ready to learn some shit. If you have to be a degenerate options gambler then roll over to IBKR you need a certain amount to even have options available. You better start learning that shit now if you ever want to actually do it though, I wouldn't with that amount which is why I said vangaurd pussy funds for guaranteed returns.
