I may inherit lots of money

[Forced to Retire]

My fathers sister has died and she was rich. She had no children and her husband died years ago. Her only relatives were my brother and I. We talked often about her money and will and always wondered how much money she had. Both my brother and myself are in the will and will be getting about a million dollars after her assets are distributed. Much of her assets are in farm land, which will take a while to sell.

My head is spinning. If you followed my earlier posts I was a nervous wreak about breaking my lease and making my $400K in savings last. (I was planning on going on Social Security next year.)

While the money won't come in for a while, it has completely changed my attitude towards life. There is a spring in my step, I have been smiling a lot and have lots of ideas how what I can do with the rest of my life, now that I am going to be set financially.

Anyone else get a large inheritance in or close to retirement that turned their life upside down? What did you do, and how did you invest it?

 

[Amethyst]

All the childless aunts and uncles on the forum just had visions of their nephews and nieces rubbing their hands at the thought of their death. Did you care for your aunt at all?

 

[trixs]

All the childless aunts and uncles on the forum just had visions of their nephews and nieces rubbing their hands at the thought of their death. Did you care for your aunt at all?

Seriously... A spring in his step after his aunt died? She should have left the money to her favorite charity.

The more I read his posts the more I think troll.

 

[Lucantes]

All the childless aunts and uncles on the forum just had visions of their nephews and nieces rubbing their hands at the thought of their death.

Luckily for me my nephew is currently only 3, and his sister is still in production with an ETA of Nov. The only thing I have yet seen him rubbing his lil' hands at so far is Thomas the Tank Engine and Ice Cream....but to be fair....ice cream also makes me rub my hands together with glee too!

 

[pb4uski]

.....The more I read his posts the more I think troll.

+1

 

[Lucantes]

The more I read his posts the more I think troll.

Well I am not sure about the troll thing but I would actually hope so.....the alternative is worse isn't it?

 

[EastWest Gal]

My fathers sister has died and she was rich. She had no children and her husband died years ago. Her only relatives were my brother and I. We talked often about her money and will and always wondered how much money she had. Both my brother and myself are in the will and will be getting about a million dollars after her assets are distributed. Much of her assets are in farm land, which will take a while to sell.



My head is spinning. If you followed my earlier posts I was a nervous wreak about breaking my lease and making my $400K in savings last. (I was planning on going on Social Security next year.)



While the money won't come in for a while, it has completely changed my attitude towards life. There is a spring in my step, I have been smiling a lot and have lots of ideas how what I can do with the rest of my life, now that I am going to be set financially.



Anyone else get a large inheritance in or close to retirement that turned their life upside down? What did you do, and how did you invest it?

The best thing you can do is think how this can improve your lifestyle and how you can turn this into a positive difference.

I had a large inheritance when my father died. He suffered a great deal for many years before he died. I and my husband took care of him and his affairs for years. Then I was Executrix. Arranging his funeral in California while in PA. Dealing with difficult relatives.

It was a relief when he passed and so was there. Knowing how I went to working hard for FI to actual FI possible in such a brief period of time was a bit giddying.

7 years later, the investments increased by 50%. Lifestyle change: not much at all. I retired in full 7 weeks ago. We have the same cars, the same house, the same furniture. We paid off our mortgage in 2014 and paid for DS's college education without worry.

Invest into index funds. At your age, a 60/40 to 40/60 portfolio of index funds makes sense.

My guess is your aunt was older and it was her time. There is nothing wrong with feeling the way you feel right now, but be careful who you share it with. It sounds like you can share these feelings with your brother at least.

What are your plans?


Sent from my iPhone using Early Retirement Forum

 

[Big_Hitter]

DW and I would rather have her parents alive than the inheritance

 

[Forced to Retire]

Seriously... A spring in his step after his aunt died? She should have left the money to her favorite charity.

The more I read his posts the more I think troll.

Death is not always tragic when someone is in their 90s and their mind and body was pretty much gone for years. She longed for death and everyone who was close to her while celebrating her life, were happy that she finally could leave her earthly body and join God in heaven.

Her assets will also go to some relatives of her deceased husband. They are struggling and it will change their life and allow for the kids to go to college and trade school. My brother and I will get 50% of her assets.

People live and die, no one lives forever. It was her time and her assets will go to good people.

 

[EastWest Gal]

Not everyone is fortunate to have a loving family. I do not miss my parents. They became pretty horrible when I was eleven, started heavy drinking, heavy smoking, and arguing all the time. Trying to take care of them when they became old and I'll was a nightmare. I loved them, but I did not like them. I only have one aunt and one uncle left. I last saw my aunt at my dad's funeral in 2009. She was frail then, now living on borrowed time. She is only in contact with the one son who manages her affairs. I haven't even spoken to my uncle in 14 years. He rejected all of his family except his kids, who never maintained any contact with us cousins since they went off to college.

Aunts and uncles are not the same as parents, either.


Sent from my iPhone using Early Retirement Forumle
Wm

 

[eta2020]

Seriously... A spring in his step after his aunt died? She should have left the money to her favorite charity.

The more I read his posts the more I think troll.

No doubt about it He is having fun with you guys.

 

[pb4uski]

I dunno... he makes a good point that sometimes the passing of an elderly relative whose quality of life is very poor is a blessing in disguise... I can see that for a couple great aunts who died over the last few years... they were in a nursing home and had no idea where they were or even who the people visiting them were (including their children, which is harder on their children than on them).

 

[Richard4444]

There is a spring in my step, I have been smiling a lot and have lots of ideas how what I can do with the rest of my life, now that I am going to be set financially.

Thanks for the kick in my butt - I needed that. Time to re-visit my Will. Some charities will be pleased !

Rich

 

[robertf57]

So entertaining!

 

[Forced to Retire]

No troll here.

I suspect many people who are retired comfortably were helped significantly by inheritance. When the last of my parents died, I also got some money. The last few years of my parents lives were cruel years with lots of pain. The lord calling them home was a blessing just like my Aunt.

I am glad she gave the money to relatives who loved her and not some charity that will blow the money in administrative overhead.

 

[chris2008]

Your situation has turned 100% in no time?
Can you be sure that there is no update of the will, donating it all to charity?
I hope you have visited and helped that old aunt frequently....
So you can continue with your attitude and pride about being difficult. Maybe even stay in that expensive appartment, have lunch with former coworkers and tell them how sorry you are that they still have to work.

 

[braumeister]

I have long been convinced this is a troll, and I'm a little surprised at how much feeding it's getting.

 

[eta2020]

Maybe he is writing some research paper and found good source of informations.

 

[ponyboy]

Its nice being rewarded after an entire life of making bad decisions huh? lulz

This will be my last response to the OP. If you stop feeding it maybe they will go away.

 

[target2019]

No troll here.

I suspect many people who are retired comfortably were helped significantly by inheritance. When the last of my parents died, I also got some money. The last few years of my parents lives were cruel years with lots of pain. The lord calling them home was a blessing just like my Aunt.

I am glad she gave the money to relatives who loved her and not some charity that will blow the money in administrative overhead.

Troll is not a self defined roll. Some of your writing may be trollish, and the community will let you know.

 

[athena53]

I'm going to vote for the OP being legitimate- typically trolls don't post this many times or initiate more than one discussion. But, I've been fooled before.

Anyway- OP, PLEASE don't go off like a lottery winner and buy yourself a condo in FL and a boat. Put it in index funds and pretend it doesn't exist for a year or so. You need to figure out what you want your retirement to look like before you make major changes.

I can understand death being a release. As I write this, both my 78-year old husband and my 85-year old mother are dying- Mom has metastatic breast cancer and DH has acute myeloid leukemia. Both are getting in-home hospice care but are weak and their lives are a shadow of what they used to be, even though they're comfortably at home with a caregiver. There will be huge holes in my life after they're gone, but I don't want them to linger like this forever.

In a way, my retirement was also partly funded by an inheritance. My first husband's mother died quite suddenly after what they thought was successful surgery to repair her heart valves. That was 1983 and we put $100K of his inheritance into a house. We divorced 14 years later and I put the $100K I got out of it (that was 40% of the equity) into another house, which left me with $200K in equity when I moved to a LCOL area for my job 13 years ago. Yeah, it made a difference.

 

[Aerides]

Two weeks ago you only had $300k in assets. Now it's $400k? What's your secret?

If this is for real, don't count your chickens - how kind and caring were you to your aunt this past 20 years? Given the lack of grief expressed, are you sure she didn't just decide to leave it all to charity or others?

 

[Whisper66]

Forced - be careful about counting on this money yet. Many things may happen. Land may not sell for expected value, someone may come out of the wood work and contest the will (legal fees are expensive even if you win), taxes will eat some of the assets, etc.... Suggest you continue diligently down the path you were headed and only make adjustments if/when you actually have additional assets.

My parents were good with finances and lived below their means. Retired in their 50's. They taught me how to invest by passing on large monetary gifts (within the tax free gift allowance) each year with some words of wisdom on investing. That helped us retire in our 50's as well. When they die, we will likely get large inheritance also. We will invest it like we do our normal assets until needed. We started this year (first full year of retirement) to pass the wisdom (and assets we don't need for living) onto our kids with the hope that it will help them have the same options we did.

Good luck to you and make wise choices.

 

[aja8888]

Two weeks ago you only had $300k in assets. Now it's $400k? What's your secret?

Next windfall he wins the Publisher's Clearing house $5K per week for the rest of his life.

 

[Taxman59]

Next windfall he wins the Publisher's Clearing house $5K per week for the rest of his life.

He can't win it, I am going to before the end of this year so I can afford a 'round-the-world cruise!