I'm Getting $500,000 And Don't Know How To Handle It

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I'm Getting $500,000 And Don't Know How To Handle It

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Күн бұрын

I'm Getting $500,000 And Don't Know How To Handle It
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Пікірлер: 161

@camcam221133 3 жыл бұрын

This is my exact situation. My father passed and the called could've been me. I invested like 75% of it, and paid my house down 80% and bought a used family suv. I act like this money doesnt exist. It's my retirement, and if by some miracle it lets me retire at 40.. then so be it. I am not touching it until I should.

@pmw3839 11 ай бұрын

You’re so lucky. Good for you. And you seem to be very sensible too.

@user-tu2xf4uf3n 10 ай бұрын

R U SINGLE DARLING ?

@jot5445 2 ай бұрын

Bro stay away from women

@makatelli Ай бұрын

What did you invest it in?

@taurinenrgy 3 жыл бұрын

His uncle made a good decision. He is already heading the right direction with his mindset.

@mirabella2154 3 жыл бұрын

I know this is supposed to be about finance, but I am moved by the fact that he is truly hurt by his loss. I hope he will heal his grief and his heritage will prove to be a blessing for him.

@einstein1102 3 жыл бұрын

yes. the fact that he was like a father to him says a lot about the relationship he had with his beloved uncle. He left him this too because uncle viewed him as his own son. I hope he takes his time to heal and grief and before making important decisions about what to do with this money. Bless his heart! Rest in peace uncle

@leisurelysam5412 3 жыл бұрын

Yeah hope so

@codyinverarity1092 2 жыл бұрын

❤️👆

@Lourd-Bab 6 ай бұрын

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family....

@Lourd-Bab 6 ай бұрын

@markphilips9148 However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments..

@Lourd-Bab 6 ай бұрын

@markphilips9148 Judith Ann peace is her name.

@Lourd-Bab 6 ай бұрын

Lookup with her name on the webpage.

@Lourd-Bab 6 ай бұрын

@markphilips9148 You are welcome .

@tylerfoss3346 3 жыл бұрын

"In the multitude of cousel there is safety." Great wisdom, Dave. Thank you! Great video!

@IceColdProfessional 3 жыл бұрын

RIP to your uncle bro.

@KarenBaker616263 3 жыл бұрын

You want to get to the point in life where ~ You do not work for money but your money works for you! Listen to Dave and you are on your way!

@darron7714 3 жыл бұрын

Smart and wise young man, God watch over him on his journey

@PeterNorthsLeftTesticle 3 жыл бұрын

Good advice here... said as someone who will have the same "problem" in the coming years.

@ij1376 3 жыл бұрын

Good advice, but at the same time he needs time to grieve. If my dad figure died, I'm pretty sure I'd be emotionally tapped out and couldn't manage a huge estate like this without an emotional...timeout first. But then again I guess he's the will executor and had to do something with it. Haven't been in this position in life yet.

@alanhumphrey4198 11 ай бұрын

Been there, hard to control emotions and think straight at the same time if you loved your parents as much as I did.😢

@alexandru5369 3 жыл бұрын

Putting a little of it in the S&P 500 would be a great start

@closingdealz 3 жыл бұрын

Not really

@DrCbass123 2 жыл бұрын

@@closingdealz why not?

@pierrefitch 4 ай бұрын

Really?

@peanutoreo8052 3 жыл бұрын

May God be with my neighbor here. I don’t know him, but I also live in Coeur d’Alene. Even a small estate in Idaho has a somewhat complicated probate. I just went through it when my father died. I said a prayer for him.

@xman666soad 2 жыл бұрын

You’re wise. All of this stuff is a huge challenge and set of obstacles being kicked while you’re down. I have never heard much about it, but if divorce and eviction are as strict processes as they are I can only imagine the state wants it’s pound of flesh. It’s necessary but it’s almost vile, just from the little bit I’ve heard about this estate stuff. Nightmares.

@j.m0ney133 3 жыл бұрын

Have a plan and allocate all the money on paper so you know where it should go. Personally I would pay off any debt than invest the rest.

@wannabecarguy 3 жыл бұрын

I have a strict policy, no money is spent without a plan. Kind of like your comment.

@thomasorchard 3 жыл бұрын

*then

@jeffwvu4602 3 жыл бұрын

Yes but spending a percentage of it is okay. Say he wants to upgrade the floors or cabinets in his newly paid off house or wants a better vehicle - all fine as long as he decides this % ahead of time and doesn't constantly dip into the money for various things .

@CaseyBurnsInvesting 3 жыл бұрын

Always something to learn about a stage of life you’re not in on this show. Heart goes out to him.

@appleforever6664 3 жыл бұрын

Casey the Spammer! You are back! It’s a Saturday, take a break. 😂

@rlopez2626 3 жыл бұрын

Such a Spammer! Dude, stop spamming!

@alinatamashevich3354 3 жыл бұрын

Casey the spammer!

@arthrodea 3 жыл бұрын

I really am sick of the low brow wannabe broke KZfaqrs WHO DONT EVEN FOLLOW DAVE RAMSEY spamming Dave's channel to bring attention to their stupid channel.

@rlopez2626 3 жыл бұрын

@@arthrodea - He spams on Minority Mindset and on Valuetainment. Keep spreading the word that Casey is a Spammer!

@b.cdrisk2035 3 жыл бұрын

Sorry for your loss.

@Lianne459 3 жыл бұрын

He should invest it in a S&P 500 fund, a value fund and an international fund first, then worry about the rest later. That will keep his legacy safe until he has time to make the decisions for the future.

@DavidRamseyIII 3 жыл бұрын

He should do mutual funds, per Dave’s instructions

@DrCbass123 2 жыл бұрын

@@DavidRamseyIII no need for mutual funds. Etfs lower cost and fees.

@larrybud 3 жыл бұрын

I would sell the house ASAP before housing comes down crashing, which it will. Then write the check for your own house, and then WAIT a year, just to get over any emotion over the money. Then you can make some rational decisions.

@bluegoosecommuterline 4 ай бұрын

its been two years, guess where the housing market went? Its now, at least in my area, 2-3x MORE expensive than it was when you wrote that comment. Housing market is going nowhere but up. I could've bought a house 2 years ago for $400k that is now worth $800-1m.

@georgeleonhard4858 2 ай бұрын

In Nevada the cost of probating a will is comes out to about 20 percent of the estate I went through this the attorneys charge pretty much anything they want

@magamaga1827 6 күн бұрын

@@georgeleonhard4858 insane. my dad is 87. we live in nyc. i'm 53. our family home has a market value of about 1M. we put it in a family trust instead.

@trevorlawrence310 3 жыл бұрын

pay off debt, invest....

@pmw3839 11 ай бұрын

Love Dave’s clarity.

@erickaguilar4899 3 жыл бұрын

He should go to daves advisor that gives him kickbacks

@joeplem5329 3 жыл бұрын

Sorry for his loss, personally after paying my house off I would instantly go part-time at my job and enjoy life a bit.

@millsathn 3 жыл бұрын

Dam right

@mr.sushi2221 2 жыл бұрын

Ngl Dave, I’m not a fan but vids like these ARE usefull

@MillionaireMindsetClub 3 жыл бұрын

Invest it and you can retire in 10yrs.

@ChrisMFlorida 3 жыл бұрын

on 500k? I doubt it..

@olivierlensvelt5698 3 жыл бұрын

More like 20

@wannabecarguy 3 жыл бұрын

If you pretend that inflation isn't a thing, then maybe.

@Polo22546 3 жыл бұрын

His uncle set him up for a better future.

@RyanAnthonyDigitalMedia 3 жыл бұрын

The fanciest town name in all of Idaho

@FrankS111 3 жыл бұрын

Sell the home, pay off debt and invest the rest.

@steveo601 3 жыл бұрын

I just inherited in Sept 2020 what is now a portfolio north of 500k. Most of it is a managed brokerage and it is on its way. I’m 48. Didn’t have debt to destroy it first. That’s the key. Will be getting another prob 250k from my dad in the next prob 10 years . Invest invest invest invest.

@wewhoareabouttodiesaluteyo9303 3 жыл бұрын

High yield ETF and live off dividends. You will need at least half a mil to do this on a 6% yielding ETF. Good luck!

@forza-kr4bx 3 жыл бұрын

In gamestop?

@AnnMitt 3 жыл бұрын

Uncle passed away and within one week he already knows what's in the will/inheritance?

@fa_ti_maa9610 3 жыл бұрын

His uncle obviously left him the inheritance which shows they were close. Stop questioning people at their lowest point.

@AnnMitt 3 жыл бұрын

@@fa_ti_maa9610 stop being so naive

@tombellamy7167 3 жыл бұрын

Maybe it had a terminal illness and his Uncle already set it up well in advance

@fa_ti_maa9610 3 жыл бұрын

@@AnnMitt stop being so negative

@SportZFan4L1fe 3 жыл бұрын

His uncle had his finances in order. That's what Dave always talks about doing before you pass away.

@kara2162 3 жыл бұрын

I see inheritance as a responsibility. Baby steps and then keep investing to pass the blessing on to future generations.

@daniloandrade8119 3 жыл бұрын

Better to spend it all. You only live once

@jomontanee 2 жыл бұрын

Good thinking!!!

@kelvinpang438 2 жыл бұрын

@@daniloandrade8119 I hope thats a joke.

@daniloandrade8119 2 жыл бұрын

@@kelvinpang438 no joke. These videos are nonsense. Why save if you can die tomorrow ?

@kelvinpang438 2 жыл бұрын

@@daniloandrade8119 And why would you die tmr?

@Michael-jo9jb Ай бұрын

Do not tell ANYONE! including family. If you can, every third cousin will come running for a loan! And new girlfriends, especially

@appleztooranges 5 ай бұрын

Throw it into S&P 500 and forget it exists

@pierrefitch 4 ай бұрын

Really what about bitcoin

@grantarmbruster6591 3 жыл бұрын

Atnt or other dividend stock and drip until you need it or manage it and put the max each year into Roth and non Roth ira each year. Keeping your assets liquid and gaining plus saving for retirement.

@USNavyVet_STG 3 жыл бұрын

Invest it and live off the interest. Where's the problem?!

@DaveCompton5150 3 жыл бұрын

The problem is you would need to get 10% interest to get 50K per year. Not happening.

@MooMoo69556 3 жыл бұрын

You would need 900k in mutual funds to make 36k a year.

@kaohsiung99 3 жыл бұрын

Jonathan, you need to hire an accountant! Then, *hire another accountant* to watch the first accountant.

@ZayingIt 3 жыл бұрын

Here for it!

@rn2811 Ай бұрын

500K in your early 30s isn’t shit. My advice is a good financial planner. Throw it in the S&P 500 stocks. Just forget it that it’s there. Do it correctly you could retire around 55.

@james2137 3 ай бұрын

Answering the question by telling the guy buy my book.

@wewhoareabouttodiesaluteyo9303 3 жыл бұрын

Put it in good high yield paying ETFs and live off the dividends.

@aaronmeives4496 3 жыл бұрын

I swear by SPHD

@wewhoareabouttodiesaluteyo9303 3 жыл бұрын

@@aaronmeives4496 Triple Y.

@az21bob666 3 жыл бұрын

vym

@wewhoareabouttodiesaluteyo9303 3 жыл бұрын

@@JuancoPRoFlow Check the three above your comment.

@az21bob666 3 жыл бұрын

Vym is a good high pay dividends

@Bestfriend-650 3 жыл бұрын

Hi Dave, I am debt free other than my home and I am bored. I feel it is un-American of me to not have car payments. Can I go lease an X7 and start living red blooded American lifestyle.

@alumsey4013 2 жыл бұрын

Dave, the vast majority of this inheritance is the house. You never asked for his opinion. Maybe he wants to live in it. If he does choose to keep it, he doesn’t need any of the “experts” that you mentioned…..

@ilikeshroomgals 3 жыл бұрын

Calling Dave was a good first step.

@goodworthss0073 3 жыл бұрын

Invest

@user-tu2xf4uf3n 10 ай бұрын

I HAVE MADE MORE MONEY WITHOUT A WIFE THEN I DID WITH A WIFE ???

@CasualGamerGirl77 3 жыл бұрын

Kind of disgusting how many people are "jokingly" begging this young grieving man for money. The joke is that most beggars are lazy foolish wasters. Get a job or work harder dagome bums.

@mr.wilken8482 3 жыл бұрын

I'm worry alot just in case .

@yourgooglemeister6745 3 жыл бұрын

He could buy a better phone to start

@robertclontz3728 3 жыл бұрын

Does anyone know if you keep this stable of hired experts on for the rest of your life? Is it a monthly retainer to each? Is it something that could drain you financially over time?

@1jw298 3 жыл бұрын

Are there taxes on this inheritance?

@grod805 3 жыл бұрын

No. The amount is too small

@aolvaar8792 3 жыл бұрын

Probate could have been avoided, Title the house as a Beneficiary Title Add a second name to the signature card at bank Beneficiary on the retirement account No court, probate, or lawyer Sticker shock on the Cost of probate

@deepthinking8633 3 жыл бұрын

It’s a inheritance so it’s tax free

@dedalliance1 3 жыл бұрын

@@deepthinking8633 I mean, if he gets the house it's tax free until he sells it then he pays taxes, if he gets stocks or something it's tax free until he sells it. So it's not really 'tax free' it's just maybe not taxed right off the bat. If he sells the house to pay off his home though he's gonna have to pay taxes, same with any investments.

@tomf5823 3 жыл бұрын

@@dedalliance1 he'd only pay taxes on the profit over what the house/stocks are worth when he inherits them

@Schizocrusader 9 ай бұрын

I’m rather inheriting 500k or a little over one million dollars i ain’t gon touch it at all

@Schizocrusader 9 ай бұрын

Gonna spend like 40k in a car

@peterhoffman8525 3 жыл бұрын

For the caller: My sympathies to you, sir. Also, consider gifting some cash to the person who was related to this uncle (mom or dad) if they are needy. Not sure why this person was bypassed if still living, but it is possible the uncle would want you to help his sister or brother a bit, too. Just a thought.

@KS-cl8br 3 жыл бұрын

He said his mom is dead. Also not all people like their siblings.

@HyperDrive45 2 жыл бұрын

easy, just long term tesla calls

@jbeav3902 3 жыл бұрын

Go to Vegas.

@freebird7284 3 жыл бұрын

if he's married he inherited half that amount

@chulasexychica11 3 жыл бұрын

Dont know what to do? Gimme Gimme Gimme lol

@cyberguypr 3 жыл бұрын

Send them to me, I'll handle.

@justinbrown6922 3 жыл бұрын

AMC 🚀

@rain73ful 3 жыл бұрын

He should get a good accountant, too to handle all that money for him.

@jeffwvu4602 3 жыл бұрын

To handle it HOW? After it's all turned to cash and he takes a chunk to pay off his house and he invests with the smartvester pro.. and he buys himself a few things.. how is an accountant going to "handle" it for him? This isn't several million.

@johnSmith-uz8nl 3 жыл бұрын

Bad advice... 95% of all professional brokers do not beat the S&P 500 index. Best advice I can give is invest SLOW AND STEADY by yourself in index funds.

@jeffwvu4602 3 жыл бұрын

@@johnSmith-uz8nl 95%? That's not true.

@johnSmith-uz8nl 3 жыл бұрын

@@jeffwvu4602 google it.... it is true.