How many have bought something "cool" after an inheritance?

[anethum]

I have never inherited anything. Am I the only one?

You are not alone. I haven't inherited anything, either.

 

[Broland]

If the sum is large enough, then a irrevocable trust fund for the children can be set up. Unfortunately, irrevocable trust funds come with huge taxes. I would think that you can leave the money to the estate and hopefully by then they mature and not be stupid with the inheritance. If they continue to be stupid in years to come, you can change your trust/will to leave money to charity.

Thanks, they're already "mature adults" in most things ... just not finances. However, I still want to help them ... just NOT enable them!

 

[ecowtent]

We put in Solar from an uncle's passing. Electric bill was under $40 this month! Some to the kids and the rest earning at Vanguard. I moved my retirement date up because of the gift.

 

[BubbaChris]

We put in Solar from an uncle's passing. Electric bill was under $40 this month! Some to the kids and the rest earning at Vanguard. I moved my retirement date up because of the gift.

Solar counts as cool in my book. The gift that keeps on giving. Here's to sunny days and low bills.

Best regards,
Chris

 

[meleana]

When my mom inherited $30,000 she bought a 2 week timeshare 2 hours from my parent's home on the Long Island Sound in Connecticut since she always wanted a summer house on the water. They both had a lot of enjoyment with that purchase, as did we.


Similarly, my parents gave us a $30,000 upfront inheritance and I did the same thing, but in the mountains of Vermont which we had 22 fantastic years.



When my parents passed I inherited 1/2 their home (split with my brother), my mom's IRA and some other savings of theirs, as well as a small life insurance policy of my mother's. With the life insurance policy I bought a new car which I still have (Honda CRV 2013) and with the rest I opened a brokerage account and invested all the money.This was a game changer for our financial life and I am forever grateful.

 

[badatmath]

I inherited 10k which added to my down payment on the house I was buying at the time so as to avoid PMI. Still have the house 20+ years later.