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

[@camcam221133]

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]

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

[@MichaelArgenta-p4i]

R U SINGLE DARLING ?

[@jot5445]

Bro stay away from women

[@makatelli]

What did you invest it in?

[@taurinenrgy]

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

[@mirabella2154]

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]

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]

Yeah hope so

[@codyinverarity1092]

❤️👆

[@tylerfoss3346]

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

[@IceColdProfessional]

RIP to your uncle bro.

[@KarenBaker616263]

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!

[@JohnDretired]

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

[@darron7714]

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

[@ij1376]

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]

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

[@peanutoreo8052]

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]

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.

[@b.cdrisk2035]

Sorry for your loss.

[@alexandru5369]

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

[@closingdealz]

Not really

[@DrCbass123]

@@closingdealz why not?

[@pierrefitch]

Really?

[@j.m0ney133]

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]

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

[@thomasorchard]

*then

[@jeffwvu4602]

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 .

[@pmw3839]

Love Dave’s clarity.

[@CaseyBurnsInvesting]

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

[@appleforever6664]

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

[@rlopez2626]

Such a Spammer! Dude, stop spamming!

[@alinatamashevich3354]

Casey the spammer!

[@arthrodea]

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

[@rlopez2626]

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

[@Lianne459]

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]

He should do mutual funds, per Dave’s instructions

[@DrCbass123]

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

[@FrankS111]

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

[@erickaguilar4899]

He should go to daves advisor that gives him kickbacks

[@larrybud]

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]

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]

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]

@@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.

[@mr.sushi2221]

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

[@MillionaireMindsetClub]

Invest it and you can retire in 10yrs.

[@ChrisMFlorida]

on 500k? I doubt it..

[@olivierlensvelt5698]

More like 20

[@wannabecarguy]

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

[@steveo601]

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]

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!

[@Polo22546]

His uncle set him up for a better future.

[@RyanAnthonyDigitalMedia]

The fanciest town name in all of Idaho

[@AnnMitt]

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

[@fa_ti_maa9610]

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

[@AnnMitt]

@@fa_ti_maa9610 stop being so naive

[@tombellamy7167]

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

[@fa_ti_maa9610]

@@AnnMitt stop being so negative

[@SportZFan4L1fe]

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

[@trevorlawrence310]

pay off debt, invest....

[@ZayingIt]

Here for it!

[@joeplem5329]

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]

Dam right

[@grantarmbruster6591]

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.

[@CasualGamerGirl77]

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.

[@kara2162]

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

[@daniloandrade8119]

Better to spend it all. You only live once

[@jomontanee]

Good thinking!!!

[@kelvinpang438]

@@daniloandrade8119 I hope thats a joke.

[@daniloandrade8119]

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

[@kelvinpang438]

@@daniloandrade8119 And why would you die tmr?

[@USNavyVet_STG]

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

[@DaveCompton5150]

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

[@MooMoo69556]

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

[@Lourd-Bab]

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]

@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]

@markphilips9148 Judith Ann peace is her name.

[@Lourd-Bab]

Lookup with her name on the webpage.

[@Lourd-Bab]

@markphilips9148 You are welcome .

[@kaohsiung99]

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

[@james2137]

Answering the question by telling the guy buy my book.

[@alumsey4013]

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…..

[@Michael-jo9jb]

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

[@appleztooranges]

Throw it into S&P 500 and forget it exists

[@pierrefitch]

Really what about bitcoin

[@Bestfriend-650]

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.

[@ilikeshroomgals]

Calling Dave was a good first step.

[@rn2811]

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.

[@mr.wilken8482]

I'm worry alot just in case .

[@MichaelArgenta-p4i]

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

[@Schizocrusader]

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

[@Schizocrusader]

Gonna spend like 40k in a car

[@1jw298]

Are there taxes on this inheritance?

[@grod805]

No. The amount is too small

[@aolvaar8792]

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]

It’s a inheritance so it’s tax free

[@dedalliance1]

@@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]

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

[@goodworthss0073]

Invest

[@TerriVess]

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.

[@GeorgestraitStriat]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@TerriVess]

@@GeorgestraitStriat However, if you do not have access to a professional like Clementina Abate Russo, 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.

[@GeorgestraitStriat]

@@TerriVess Oh please I’d love that. Thanks!.

[@TerriVess]

@@GeorgestraitStriat Clementina Abate Russo is her name.

[@TerriVess]

Lookup with her name on the webpage.

[@HyperDrive45]

easy, just long term tesla calls

[@robertclontz3728]

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?

[@yourgooglemeister6745]

He could buy a better phone to start

[@jbeav3902]

Go to Vegas.

[@peterhoffman8525]

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]

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

[@freebird7284]

if he's married he inherited half that amount

[@johnmirbach2338]

😁👍🖖👌✌😎

[@justinbrown6922]

AMC 🚀

[@russelljconquerslifehawkey]

I just came to see what horrible advice Dave is going to give today

[@cyberguypr]

Send them to me, I'll handle.

[@RealHealthyGuidance]

GME

[@rain73ful]

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

[@jeffwvu4602]

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.

[@jeffwvu4602]

@john Smith 95%? That's not true.

[@universalservicetechust3578]

I’ll take a loan 💸

[@inertiaforce7846]

Lol

[@leisurelysam5412]

Lol

[@ImVeryBrad]

Lol

[@djpuplex]

I'm guessing hes gonna speed it on molly 💊. No that's not a girlfriend/wife/women.

[@LadyMaeloraBeesbury]

Give it to me, I'll show you how 😜😂

[@labornurse]

I can give you my P O Box, if u need more ideas for dispensing with it, lol. Hardy har.

[@wewhoareabouttodiesaluteyo9303]

We need gals like you to work. Stop living off your attractiveness.

[@labornurse]

@@wewhoareabouttodiesaluteyo9303 thank you. I certainly can't live off my humor. 🙃

[@lordy7933]

@@labornurse 😂