We Inherited $7,200,000; What Do We Do?

[@Dailypalamides]

I recently inherited almost $700k. I REALLY need to make this money work for me, and not just disappear over time. I've been scrambling for somewhere to put the money, where I can make an effort to use the gains to retire so I can quit my job . All roads have pointed to the financial market of some sort which is a good idea buh where else should I put money besides the financial market? We have a 13% RPI rate so cash is tough.

[@Lamarche1959]

Yep great question and that’s always the one - where would you rather be if you have an option. Personally I’m always invested aside, Financial-market for me seem the only way forward with my long time horizon (accrued almost $1.4m in gains since 2020 ) but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe! . Just know the risk you're comfortable with . Mistake is expensive

[@E.GCreates]

Very informative, one option I suppose is, if you were to invest a set amount buy the whole share in a ETF and the remainder could go into a index for which would allow you to purchase the fractional shares, is that an option?

[@Dailypalamides]

well Lamarche, a million in profit is a nice milestone, how did you achieve that? I guess you have a proven trading strategy that you've spent a lot on please share more info !!

[@Lamarche1959]

I work with Abigail Ann Ryan, she’s the best in the business, and she’s really aggressive with her buys while at the same time careful which is a great factor for me

[@Dailypalamides]

Found her web easily when I searched her name. I will surely reach her to see what the best step for me to take is. THANK YOU.

[@afjm7499]

$7M even just earning 5% a year is $350k every single year. This dude needs to wake up and face their new reality. Let your wife “spoil” herself a little with some nicer flooring in the house lol come on man

[@batman6540]

Where do you get 5% a year? With what?

[@aaroncook5928]

​@batman6540 average returns are more than 5%, though there are dividend stocks that pay this. Hell current HSAs pay this right now. Even 3% dividend stocks would pay over 200k a year not including your day job.

[@Legendary865]

@@batman6540 you’re kidding right? Even a savings account gives you about 5% these days

[@firefly9838]

Some people just cant f*cking lose

[@TooThPasTe07]

theres an easy fix to this solution. they should put their money is a savings account to make 360k a year, and using the savings you can try making a small business just for the fuck of it. thats what i would cus i think id get bored doin no job

[@JohnnyBfromPeoria]

Don't put laminate floors in your new house.

[@d_all_in]

Having 8 million and cheaping out on your new construction is actual insanity

[@unbothered6357]

What did laminate floors do?

[@Cloth_Gloves]

​@@unbothered6357 bubble at the slightest hint of water

[@kbanghart]

​@@Cloth_GlovesI got waterproof vinyl. Seems decent.

[@kathys1285]

I’d tile the whole house

[@raphymartinez]

My dude is upset that he's losing the thing that he felt gave him control over the relationship. George is on point

[@cjlive5182]

Geez money drops in his lap and still has problems with it. What a dope.

[@lifestream4191]

The husband already built up a million dollars while she has been a home maker. He went from provider-protector, to insignificant. It's a real problem, unless you're an adrift loser.

[@Ap_twsh]

Yeah if you’re smart enough you can foresee once she gains total control over what they do cause she has the money she will see him as less and divorce. It’s not just him he knows what’s coming.

[@atombomb31458]

that could be it sir

[@rod1147]

It's not about control, a man just wants to feel appreciated for his hard work a man wants to feel needed, it's hard if she's a multi millionaire... I'd dump her

[@dannywilson850]

If you are worried about 8 million dollars not being enough to retire you really need do a self assessment.

[@chucktalor716]

@@dannywilson850 dude has emotional issues

[@Ap_twsh]

Nothing to do with that. She’s basically in control now and you can hear it.

[@wolfmantroy6601]

When hyper-inflation hits the USA it won't even buy a car.

[@KentPetersonmoney]

@@chucktalor716 He dose'nt know a blessing when he has it.

[@forceuser609]

8 million at 35 and 65 is a big difference

[@bradycone]

This marriage is going to be rough. Like Dave has said, getting lots of money just reveals more of what is going on inside of you. This dysfunction was already there, and now it's just being revealed at a massive scale.

[@chucktalor716]

We see it here clearly

[@mikejezek5214]

Nah, it's the fact he's now obsolete in the relationship. Women don't respect men of lower status, who don't have a use. He has no use now. It's female nature. They always want a man that's higher status than them.

[@Trial_Junkie]

Step 1 - Find this guy the best therapist money can buy.

[@katiewollan2]

Yes, that’s Jesus.

[@katiewollan2]

But you can’t buy Him 😊

[@rvog6584]

is John takin new patients? 🙂

[@Altintope]

My aunt passed away, and I inherited part of her portfolio and cash savings. I'm 28 years old, I’ve been told to invest in stocks. what are excellent long-term investments? how can I grow this $800k

[@CadeCowell-ft4fe]

Lucky you, I’d buy a lot of tech stocks and Dividend portfolios with that. If you don't have experience, you could consult with a broker

[@MalikTillman-dy2qp]

Same, I just use KZbin for research purposes, I run all my major investment through an investment adviser, the market is just too unstable to handle things on your own. I have consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains in close to decade of having one

[@Oliviathe17th]

Could you recommend who it is you work with?

[@MalikTillman-dy2qp]

*Victoria Louisa Saylor* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@Nateknighty]

I’ve just looked up her full name on my browser and found her webpage, very much appreciate this

[@Nothank1997]

What a legacy! He truly cared and loved his family to leave his family that money. Legacy truly is a life well accomplished. Well done sir!!

[@richardkoontz831]

Legacy is not in the number of zeros you leave, it’s not leaving it to zeros

[@ReginaDominique]

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[@SlavoPetrovic]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge

[@StalinGrabovsky]

Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings

[@GretchenTerrey]

How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?

[@StalinGrabovsky]

Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@SoledadHughes-q2i]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@Johnny-se8hk]

In the 50's my late dad worked a modest job, mom was a housewife, and they lived a nice lifestyle including owning a home. Nowadays both I and my partner works and can barely afford to make ends meet. Luckily, I've just received an inheritance of $500,000 and concerned how to use money I didn’t work for. Should I pay mortgage since I’m still working, or do I invest in stocks rather than just staying 100% cash?

[@KaitlynDeve]

You should do a mix of both. Seek the help of a financial advisor and a real estate broker. Use $100k to get yourself a decent rental property, may need a mortgage but keep the cost of the property low, and put the rest into stocks.

[@heatherholdings]

Well agreed, investing with the help of an advisor did the trick for me in less than 5 years, retired with couple millions before 55. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually, enough to get me fully invested.

[@J.woltz48]

@@heatherholdings bravo! retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your advisor can be of help?

[@heatherholdings]

Can't divulge much here, I take guidance from a Pennsylvania-based advisor 'Karen Lynne Chess' and most likely, the internet is where to find her basic info, simply do your research.

[@Mary-Flint]

glad to have stumbled upon this, curiously inputted Karen Lynne Chess on the web, easily spotted her consulting page and was able to schedule a call session. Ive seen commentary about advisers but not this phenomenal

[@hotdogs5265]

I would tell no one. But there would be signs. Like a 5 year old car instead of my 20 year old one.

[@barbiewhippin22]

So real

[@bigcatdaddy7573]

It’s a whole lot scarier when you have no money. If it scares them that much, give it to me!

[@FusunTumsavas-cq7tp]

In these unpredictable times, it's crucial to manage money wisely and invest prudently. My $240k reserve has been idle with little profit not increasing more than 5% and people are predicting a crash, inflation is eroding my savings. I need a solution to protect and grow my funds.

[@RossiPopa]

stock market crying with little down tick while we have been dealing with double digit real inflation for a year. consult with an advisor so you don't get burnt in the market.

[@RusuSilva]

Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.

[@RichardMoore-jg5tl]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation

[@RusuSilva]

Monica Shawn Marti is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@RichardMoore-jg5tl]

Thanks for the info. I searched for her full name and found her website right away. I reviewed her credentials and did my research before reaching out to her.

[@nathand.9969]

I am reminded of something Dave said once. "Money is just a magnifier for what's already there, if you're stupid you'll be stupid on steroids, if you're generous you'll be generous on steroids" (Or something like that). Guy has some underlying issue that needs to be dealt with so he can be at peace about this money and his future. They both probably also need to buy brand new cars, and do some fun stuff with this money.

[@AstaKristjan]

I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65. How best do I maximize my savings of over $500k

[@LarsBergstrom-uh2eu]

Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.

[@LivaHolst]

Many people often underestimate the effectiveness of a financial adviser in planning for retirement. Over the past 10 years, my Adviser has consistently restructured and diversified my portfolio and expenses, resulting in over $3 million in gains. While it might not seem like a huge amount, retirement now feels within reach.

[@Alejandracamacho357]

Tried doing things on my own at first, failed abysmally at it,tried following a colleague's retirement planning, same result. Now, I need that professional rescue. Please direct me on how to reach a sound CFA

[@LivaHolst]

There is a handful of xperts in the field. I've experimented with a few over the past years, but I settled for ‘'KATHLEEN CHERYL CONSTANTZ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@LivaHolst]

KATHLEEN CHERYL CONSTANTZ is who I work with. Have worked with her for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@ElKamarAchems]

Si this woman can’t even enjoy the money that HER father left her because her husband can’t grow balls and is scared like a little child. Please! Poor woman, rich as hell but poor in her own household. Bless you, hope you’ll find a way to enjoy this peace of mind and be generous!

[@bcjammer87]

I understand why he’d feel that way but don’t think all men are wired the same. If my wife got handed $7M I’d quit my job tomorrow and enjoy life.

[@dabiz4272]

💯! 😄

[@ScottSullivanTV]

Absolutely! I think I would find some “work” to do to give my days some purpose.

[@naaanin4886]

😂

[@cutehumor]

Sugamama time!! 😂😂

[@chucktalor716]

And u probably let her buy floors lol this dude is about to get divorced cus of his emotional issues

[@liftman3334]

This mindset is more stressful than living broke. Had a great friend who ended her marriage after like 8 years her husband was a miserable person.

[@rgbrown90]

My grandma was fortunate to inherit a good sum of money from her stepmother's family years ago and she and my grandpa invested it wisely and we're both very frugal, had five kids and lived and worked, not sure of the dollar amount their estate came to but it was a blessing and a excellent lesson in saving

[@JudePi-jx7yo]

If the goal is not to enjoy life sure.

[@rgbrown90]

@@JudePi-jx7yo ehh I think they had pretty good lives, both died in the comfort of their family and their own beds 88 and 95 years

[@stevenevangelist5221]

Asked a friend who inherited millions. Whats it like being a multi millionaire? His reply. Money aint everything. Asked meaning? He said money just pays the bills. Will never forget that

[@tomw485]

I’m not sure how useful that advice was. He is correct “money ain’t everything” but it is something. Having millions does change your life and your mindset somewhat. Once you have enough money to pretty much do whatever you want in life it’s both freeing and scary at the same time. Before you mostly worked to provide for your family. That was your purpose. With several million to your name your family is completely provided for. You work for a completely different reason now. You live with a different purpose and it can be very daunting to figure out what that is.

[@buckybarnes3803]

I was so caught up in my own financial bubble until I started listening to Ramsey, and realizing all of the amazing and crazy financial stories out there, like this one, I'm still surprised!

[@JWH808]

I know a few people that are so tight with their money, that I cannot imagine how they are ever going to spend it, or enjoy it, without going crazy.

[@privacyplease1556]

He’s not anxious. He resents her. He’s been working hard to save a million dollars and his wife, who stays at home, just got $7 million out of thin air doing nothing at all.

[@waynepimentel1680]

I hit the lottery and lost a friend for that exact reason. I mentioned my tax hit to him and got told he didn’t care, you didn’t earn it, and I was pissing him off. Haven’t spoken to him since tax time and saw the true person he is.

[@jesuslovesyou916]

​@waynepimentel1680 I'm glad he exposed himself, so you cut ties with that friendship.

[@zeal4god402]

Wow, thats a HUGE problem if your STILL stressed financially with over 8 milllion in total in your possession. 8 million! Not 8 hundred Well done to her father for leaving an abundant of wealth to his daughter before passing away! Amen!

[@thebarbieinvestor5428]

lol that’s not legally his money. It’s her inheritance not communal money. We can start there.

[@michellefitz4287]

I had the same thought- this is her sole and separate property until she co-mingles it. Very interesting and sad to see this being a hardship for them

[@brianprobert3090]

The inheritance is hers UNLESS it's already been put into a joint investment account. That is an incredibly important decision that people often make without much thought. Putting your spouse's name on the account effectively gives them half ownership payable if you divorce.

[@tdaveniii]

She could divorce him tomorrow, keep the $7M, demand half of the assets they accumulated during marriage, and, just for laughs, be entitled to alimony and spousal support.

[@beckyg361]

Make sure you keep this money your sole and separate property. He is controlling. He used to be able to control you and used money goals and work to keep you busy. Now YOU are free. You could have absolute independence from him if you want and he is spinning over that possibility. My father was very similar to this. While I am ultimately grateful for his frugal efforts, I often thought he loved his money more than any of us. If I had to guess, I’d say in his mind, it’s a rope that binds you together. The rope has been severed. If he isn’t thinking rationally seek medical intervention. I didn’t catch how old you are, but early onset dementia is real. Wish I didn’t experience the brunt of it, but it made everything else 10x worse for my dad’s fixation on money. Your situation sounds very similar to mine. (Except the 7M part 😂)

[@brianprobert3090]

@@tdaveniii She could ask for anything but I doubt you'll find many judges who would award it based solely on the income generated by the investments being a lot more than he makes. Also, it varies by state, but they can also "consider" the inheritance when dividing assets to make it NOT work out to 50/50 on marital assets. I just went through this. It should be mandatory to learn this stuff BEFORE marriage instead of when you're heading to divorce court.

[@enricopallazzo3244]

Step one:tell the entire country.

[@joe1192]

😅

[@mr_deluzional]

😂😂😂

[@Bbcta3]

And brag about it 😅

[@Earstolisten]

Step none 😂

[@reginadavis1028]

😂 She hasn't told her name so they're still safe.

[@AnthonyJustice-i9x]

Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires, thanks Brooke Miller

[@henrybernhard0]

I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.

[@ClarenceFerland]

The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.

[@GrozaGroza-ko7fn]

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states

[@HighlightsSerieATIM]

I'm new at this, please how can I reach her?

[@ZahirFriedman]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

[@vincentchan5773]

I’m a lottery winner and looking for long term investments that can fetch millions. If you had $250k, which one would you go for in terms of maximizing possible returns and mitigating risks

[@hildacook8886]

Consider growth stocks... in the world of investing, they are the ferraris, however you can maximize and avoid terrible mistakes by working with someone of great expertise

[@JackStainstone]

The issue is most people have the “I want to do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 330% since covid-outbreak to date, summing up nearly $1m.

[@JoshawnWilliams-s7b]

very encouraging for folks starting out like myself, please who is your advisor if you don't mind me asking?

[@JackStainstone]

I’ve stuck with ‘’Glen Howard Chester for years now, and his performance has been consistently impressive. He’s quite known in his field, you can confirm him on the internet.

[@JoshawnWilliams-s7b]

very much appreciate this.. was able to look up Glen by his full name and at once found his consulting page, he seems impeccable!

[@Beginningtopeak]

The dude has done the hard thing. He's done leg day 6 days a week, something regular people would never do and it isn't even advised. It is time to hit those glamour muscles baby. Hit the bicep curls, hit the triceps extensions, bench press for God sake! He has caused the family to scrimp and save, something regular people do not do, to the detriment and jeopardization of his relationships. Time to enjoy it.

[@jakes5530]

It's not rocket science, pay off all your debts, then buy VTI or VOO and let it ride. You can either keep working if it makes you happy, or live off the interest. Either way, you're set for life now. Congrats

[@lemongrass3945]

Dude is crazy 7 million is perfect. It makes 10% a year. Then take out 5% that’s living off 350k debt free

[@NickAndTech]

It's not so obvious. The woman now instantly became the provider forever, permanently undermining his role as a man, it's cutting off his b@ll$

[@claudiaj2138]

@@NickAndTech🙄

[@oshkoshbegone]

My dad is like this, its from the way you grow up mixed with a very anxious/stressful personality. People like this are very irrational, its like a massive mental block. Also they are very controlling people. Hard to get this person to change.

[@michellefitz4287]

Good insight. Thanks for sharing. Very tough.

[@beckyg361]

Same experience and dementia brought it to a whole new level.

[@jeanlucbergman479]

My dad was an orphan, came from nothing and he did have this mindset for years even after fully paying off the mortgage on a 2.5m USD house. Eventually he came around and started loosening up though. There is a shock aspect to this story, and a shift of narrative that people have to go through mentally whether quick or slowly and my guess is eventually he will deal with it. Its a good problem to have ultimately!

[@ConnieBrown-gu6bb]

Inheritance is not community property. She needs to keep it separate from their money as a married couple. He has no say in how she spends her inheritance.

[@terpenator93]

How convenient for the woman lmao

[@bunacat1]

It becomes community property once it is co-mingled with joint money. So, for this lady, it is already too late. She has already combined it in financial accounts and the new house. The husbands need for therapy is high.

[@suen5006]

But if you have a good marriage, you share it together, it's not a problem. This is why so much money could ruin their relationship. He's got some ultra miserly issues.

[@BigMichael78]

That's an antagonistic way to view marriage.

[@mrsterious5845]

​@@terpenator93 Same result if the husband had inherited the 7 million. It's about law, not sex.

[@bhollingsworth]

7.2 million would be easy. Work and do what you want... retire whenever you want.... enjoy life.

[@gailhoover9263]

But still be mindful of your spending. It's 7 million, not billion. Lottery winners go broke every day.

[@bhollingsworth]

@@gailhoover9263 of course but as the guys explained if you did nothing with your money besides foolishly let it sit in a savings account, you're earning $350,000 on the principal. It would be so easy to live on 7.2 conservatively invested and live off the interest.

[@EyeNoMrGREEN]

@@gailhoover9263 Yeah of course but lottery winners are usually people who are terrible with money. Unless you literally went out gambling all of that money away there is no way you could run out of money with $7 million in investment accounts invested in safe investments unless the entire economy collapsed. That plus their million they saved on their own they could take out $250K a year and not even touch the principal. You'd have to be ridiculously irresponsible to mess this up and people who saved up a mil on their own are almost surely not. They could EASILY and I mean EASILY retire anywhere in the country and live comfortably. They could retire somewhere with a low cost of living and live like freaking royalty and not even touch the principal.

[@dog7881]

@@gailhoover9263That’s true but people that had the ability and discipline to get $1 million in net worth at a pretty young age are probably not going to go broke with this money

[@NicholasCaruana834]

I came across your channel through this video- case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[@Laylalog]

You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.

[@HenryRichardson56]

Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 10Ok to test the waters now that large cap stocks are at a discount

[@CamilaCardone66]

I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Martha Ann Hammerton, has been an amazing experience.

[@don.boelter]

Wow. I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.

[@Ellen_Oliveira214]

" I started my investment with $7,500, a week later, we had grown to $28,645. This woman! absolute genius

[@GJH3735]

She’s in an abusive relationship and doesn’t know it. He’s trying to control her with the way he acts.

[@nahoooli]

She really is, she cant even spend her own inheritance without him micromanaging and throwing a tantrum. He needs to learn where his rights as a provider begin and end when it comes to spending money.

[@someonesomewhere1385]

um... honey its YOUR inheritance... get the tiles ; get the countertops !

[@dabiz4272]

Wrong. That's THEIR inheritance

[@Mc.flyyy11]

Exactly

[@jimmymcgill6778]

@@dabiz4272 Wrong.

[@allisonautrey2136]

​@@dabiz4272 No, it's hers. He didn't inherit anything.

[@black_tech_owner]

This is EXACTLY why men shouldn’t get married, I hope some men see this 😅

[@danieljohnson4418]

Imagine being "scared" of the consequences of inheriting $7 million. Give me a break.

[@problematicpolarbear6065]

You clearly lack the mental capability to fully understand what that does to ones life. You are one google search away from getting an impression what it means to be "rich" overnight and I find it hard to believe that you are that level of ignorant to never even have heard about that. Your comment is clearly a very lame attempt of trolling and ragebait farming.

[@brianbird3756]

It's being scared of losing her and her taking the money with her.

[@kristinfrancis]

I’d love to be “scared” by $7 mil. Lol

[@mathematician1234]

The guy has issues. With some good advice/help he can sort it out, relax, and smell the roses.

[@melanieb2132]

This IS a real issue. Their entire relationship was him in the drivers seat with the money. It gave him authority.. now he feels emasculated. He needs therapy

[@ceciliaruns72]

You need a post nup, it’s your money. Budget it the way you want it.

[@retsubkrod]

That's a way to get a divorce. Also inherited money isn't a martial asset so she'd keep it anyway

[@cutehumor]

Yeah I would leave her too if she tried the post nup crap. I quit my job and enjoy sugamama time 😂

[@bunacat1]

@@retsubkrod Nope. The only way it is "hers" is if it hasn't been co-mingled with "their" money. If she put it is a separate account from the get go, it would be hers.

[@beerkegaard]

Lmfao he’s not going to sign that sh*t

[@shazz2162]

Take your money & run girl. You can have a great life & not stress over him

[@JJs_playground]

The husband has issues. He's worried about upgrades to the house. He understands that if you spend 3% ($210,000) in upgrades, that's hardly anything.

[@michaelvan6675]

Check your math

[@nicodimus2222]

Easy answer...retire (unless you love your job and want to keep doing it) and enjoy the rest of your lives together. I say that as someone who is in a similar situation. Even if you only take out 3-4% of $7.2 million a year, you'll be very comfortable, will never run out of money, and can afford to be generous to others, which is really fun. If it's not an easy answer, either you're with the wrong person, or you need therapy.

[@carminedesanto6746]

Valid passport,good lawyer,good tax accountant.

[@lionheart93]

good marriage counselor like pastor>

[@carminedesanto6746]

@@lionheart93 Yes..and at the end they said ..your marriage is over not that you’re separated..that now without financial burden..you can have a new life together going forward..and yup,a 5 percent growth is $350k ..so you have an opportunity to not only take care of yourselves and family but leave a legacy for your descendants.

[@orangesandlemonade]

I am 22 years old, lost my dad about half a year ago and I am going to receive $550k+ soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?

[@garrickphillips-x1z]

I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra

[@chadgriffith1969]

Agreed, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me achieve my early retirement goal.

[@J.woltz48]

@@chadgriffith1969 How can one fine a verifiable financial planner? i would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my uch larger portfolio. Don't want to take chances.

[@chadgriffith1969]

My financial planner is Annette Louise Connors, experienced advanced lady and consults formanly brokerages hence is independent and can be a fiduciary to you.

[@bukki07]

very much appreciated, just copied and pasted Annette Louise Connors on the web, easily spotted her consulting page and was able to schedule a call session. Ive seen commentary about advisers but not this phenomenal

[@Lon1001]

Probably some resentment, scrimped and saved for years, lived like no one else and all of a sudden it was all for nothing since his hard work really doesn't amount to anything significant compared to this giant sum of cash that just fell from the sky. Like what was the point of that diligence when he can no longer take pride in that accomplishment?

[@JudePi-jx7yo]

Interesting take. There is a real danger in over saving for sure. The dad is the villain here. He clearly wasted his life scriming and saving. Unless it was $10k in 2010 Nvidia stock or something. He never told his daugther or let her enjoy the money when he was alive to see it. Imagine a family cruise with the baby. Or a once in a lifetime honeymoon in Bali etc. Instead like her husband he squirreled it all away. Almost everyone who is a natural saver ends up not enjoying the fruits of their labor. Maybe the tempoarily converted by Ramsay advice are the luckiest ones though I doubt they revert either.

[@MichaelAnderson-wk1no]

The point of the diligence was that it taught him the proper character to now be able to manage a sum of money like this responsibly. However, it sounds like for whatever reason he is not emotionally able to understand that.

[@DuhIdiotMoney]

I'm surprised they didn't digress for a minute to ask what Dad did so very right that he was able to pass down $7M, cuz homeboy was on the ball!

[@johnnyb33good21]

Owning a business and income producing real estate

[@Aristaifly]

yeah, especially when his own daughter didn't have an idea she will inherit 7M

[@KnowledgeIsComfort]

@@Aristaiflyoh so it was her dad?

[@mathematician1234]

Good point. I would have liked to know that too. I suspect, however, given that the daughter was surprised to the upside by a factor of two, Dad was likely just a working stiff who socked away money each month for 50 years and lived relatively modestly. The money grew and grew and he kept living modestly. Real estate in that part of the country is worth a pretty penny too. Maybe he owned some land with an ocean view.

[@pamt3915]

NEVER commingle your inheritance. It’s NOT marital or community property. It was money bequeathed to you to do as you wish.

[@1jw298]

It is biblically. Why be married if and when you come into a windfall you totally ignore and not abide by the very definition of marriage,

[@allisonautrey2136]

You're correct

[@pamt3915]

It’s not marital property unless the beneficiary CHOOSES to do so by sharing it, putting it in a joint account or paying marital bills. Spouse’s aren’t legally entitled to an inheritance just because you’re married.

[@kensanders1000]

I think in order to keep it out of the joint account, the father would have needed to put the money in a trust for the daughter.

[@pamt3915]

Not true. The spouse needs to put the inheritance in any type of account that’s only in her name. When a spouse puts an inheritance into a joint account or uses it to pay marital bills, it becomes marital property that will be part of the divorce assets. By keeping it in an account under your name, it remains yours in the event of a divorce.

[@veteranredbeard6222]

Set aside 6 mil, then use 1 mil for things you ABSOLUTELY need. Dont lend money out. Double and triple vet your advisers. Diversify!

[@shea455]

If I didn't have a plan for the money, I'd be afraid as well. Come up with a plan. Be sure any taxes and debts are covered, be sure a good chunk is added to retirement, and define what you can spend today. Done.

[@wwade7226]

I'd say this is probably the wisest advice. Take some time, sit down, look at the finances, consider the details and move ahead. Maybe you set aside chunks of that money in some retirement plans, or college funds, or whatever. Setup a fun money fund, a house fund, etc. Make a budget based on the interest (say $250k per year, leaving $100k for savings, etc.)

[@ozemsadventureofrandomstuf252]

There is also a good lesson here…work hard whether you come From money or not. I mean to think of the life you can leave behind for your kids to enjoy is astounding.. But I reckon if you have had a very frugal life this is the blessing

[@markg999]

Glad I dodged that bullet. My wife will not be inheriting 7 million.

[@BirdDogey1]

Love how Deloney equates wealth with goodness.

[@strawberryme08]

Make the house nice he’s got stuff to work through. He probably feels left out suddenly of the process but he’s got to get some scarcity mindset stuff done.

[@ulf5738]

Her husband needs professional help to deal with his emotions

[@Dread_Force1]

I wish my wife was halfway on my team like this lady is. Geez.

[@richard77231]

Plenty of lottery winners go bankrupt. It's certainly not unheard of for someone in this circumstances to lose it all, even if you think you've been frugal all your life. One thing lacking is defining, with the financial advisor, is what a reasonable withdrawal rate would be. Define your baseline income from this, maybe even one that maintains the principal and doesn't draw it down at all (i.e what if we put this all into a CD and lived off the interest). Develop of budget based off that. It's only been 6 months, it takes time to unclench that savings muscle.

[@michellefitz4287]

Very well said

[@Ianmundo]

Dude got emasculated by his wife inheriting money. What a weak dude. Enjoy life!

[@ilovenoodles7483]

60K isn't even 1% of 7.2M! Let the lady get the house that she wants as long all the money does not get busted through. There is enough money to have what you always wanted and then some!! A lot of some!!

[@Scarface_445]

I think he probably has tied his value to being a provider and hopeful savior. He works and works trying to help his family not be where mostly likely he grew up, poor. His wife literally can snap her fingers and solve this. He is having an internal crisis, maybe some counseling will help! His wife can 100% spend 60k on the things for the home. Maybe show him, invested what it provides. You won’t even touch the golden goose as Dave would say. Enjoy your lives! Her father truly was an amazing man!

[@VGHSyntheticOrchestra]

Straight to an HYSA. Live off the interest.

[@amandadaisies]

It’s not even his inheritance-it’s from her father. He needs to chill

[@laafawnduh]

I'd like to hear the husband's side

[@djpuplex]

Her feelings. I feel,.I feel , I feel..No rational thought.

[@Atlas-tp8dw]

@@djpuplex sounds like the husband is not thinking rationally either...he needs to address his issue with money. Not even wanting to talk about house renovations is not healthy.

[@GuilhermeMeloso]

Let's get more information on the Cryptonica Liquidity Pool.

[@rezlogan4787]

It’s underestimated just how huge of a stressor and massive disruption a giant inheritance can be. It can wreak havoc in a marriage when a man loses his role as provider overnight. At that point, the man needs to find brand new sources of pride and the woman needs to carefully reexamine the virtues of her husband, because even if he has been a solid responsible provider, he is no longer needed for that role ever again.

[@jacklaker1939]

And that’s why the whole idea of traditional gender roles is bs. For a relationship to thrive both people need to be equal.

[@princessunknown3158]

Big bucks and biggest responsibilitys..... Use it wisely... Just be grateful... Try see it has blessings.

[@MDP454]

He thinks she is going to leave him. Pop culture glorifies women, leaving their man the second they have a better option. He doesn't see how he can compete with 7 million.

[@JudePi-jx7yo]

not just pop culture

[@alanm500]

I think you may be right.

[@stevenno91]

You’re aren’t taking into consideration that they are married, THEY have 7 million, not her.

[@JudePi-jx7yo]

@@stevenno91 inheritance is hers no?

[@jamesmorris913]

It was HER dad, therefore, it's HER money, to do exactly what she wants with it..that's EXACTLY what I would tell MY wife, if the same ever happened in our household! This guy's obviously ecinomically-illiterate, a raging control-freak, or malignantly insecure..probably, ALL THREE!

[@onebridge7231]

Don’t spend the principal. Just buy U.S. treasuries or very secure investments. Live off the interest.

[@rexpjesky23]

I don't know why y'all say it's not about the money. This is all about the money. Husband's purpose for his whole adult life was to provide for his family. That's gone now. His behavior stems from that. Not people making fun of him when he was a child. What makes this worse is the money is from father in law. And that it was unexpected.

[@megalodon1726]

It's still not about the money. If it's about the money, he shouldn't sweat over her spending 1% of it to improve the house. It's about him losing his purpose. Now he needs to find a new purpose.

[@Redwood4040]

Type-Shit scenario. Nvidia or apple which is a better investment now? just got my lump sum inheritance and would love to put my money to work, so i can earn in dividends, i'm also looking at paying mortgage where rates are not so high.

[@JordanReam8186]

Both are crap for dividends.

[@PauleAraiza]

Nvidia is more valuable than Apple as of now, though many people perceive it to be a bubble

[@AddilynTuffin]

I’m currently working towards financial freedom with a focus on dividends & growth investing. Since 2014, I’ve built a portfolio made up of 30% NVDA, 25% SCHD, 15% VOO and over 30% in digital assets, thanks to my financial advisor. This strategy has helped me earn $46,000 a year in dividends. Back in 2014, I only earned $21 in dividends.

[@sledgeyyyyy]

@@AddilynTuffin Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.

[@AddilynTuffin]

I work with the popular Victoria Louisa Saylor , Who happens to be a is a hot topic among financial elitist in The US. Especially for her works during Covid. All the information you need to set up an appointment is on her web page.

[@nationsnumber1chump]

Dave can keep his family together because he actually can spend as much as he wants on anything he wants because he's wealthy enough to do that. When both you and your spouse have under 10mil, its verify difficult to be satisfied that it will be enough for retirement and the years beyond. It's the times we live in. We could have hyperinflation in the next decade and it may be only worth half that, so make sure that you spend it on the right things and put it in the right investments before spending a bunch.

[@markfiala6730]

They didn’t consider that her now wanting higher tastes, stuff they couldn’t previously afford, is challenging his self worth of being able to provide

[@GAFB1122]

Would he feel like that if they won the lottery? I think it's how they got the money. Inheritance from her father. The dude needs to get over it.

[@fabsmaster5309]

I think John mentioned it briefly but it was quickly glossed over.

[@gk4thewin049]

​@GAFB1122 telling someone who is like this to just "get over it" is arguably the worst way to handle the situation. If you have any idea about how normal men find purpose, then you'd change your response. We've been providers for millenia and that's how we're wired. When you take that away, we feel, instinctually, like we don't amount to anything, and that we're replaceable. Which destroys us internally. He's afraid of losing his purpose and is now on the retreat. It's not his fault he's scared, it's how we're wired.

[@robloxvids2233]

This man has worked his whole life and worried about money and security. Suddenly, none of that matters. His entire existence is called into question. She has stayed home and raised kids. She's built her life around her family. Imagine the dad came home one day and said "I inherited a maid, a tutor, a nanny, a chauffer, a shopper, a nurse, a chef, honey. Great news! You don't do any of that anymore!" She'd be going through an existential crisis, too. My services are no longer needed? Wat? That's a lot to take in. The 60k thing has nothing to do with money. He's fruiting out bc he doesn't feel like he matters anymore. And she's not helping by suddenly jacking up their lifestyle for no other reason than she can. She needs to be more respectful of what he's trying to reconcile internally.

[@innocuous_name7212]

Great advice! That isn't about money. The poor man is hurting and it is hurting his wife.

[@cornishpasty4344]

It's your dad's money. He would want you to spend this money how you wish. Not how your tight husband sees the world. Your dad would be devastated. He would want his daughter to be happy and comfortable. My mum (still alive) gave me a little money recently. She's like... it's yours to use as you wish. Even if you get a car or whatever it is that makes your life better. That's all she wanted. To make my life better.

[@dudewhathappenedtomycountr9099]

Good on your mom. I wonder why so many parents don't share their wealth while still alive. That would be a great call-in. "I'm rich and would like to share some of it while I'll still alive and kicking, but I can't bring myself to do it. What should I do, John?"

[@christinenganga9124]

Make sure your financial advisor does not screw you up too.

[@lifestream4191]

Nope, it's a primal thing. When my maternal grandparents passed away, my dad would not touch any of the money or the vehicles left behind. The man is hard-wired to be the provider and protector, even if he's not dominant. When enough money comes to the woman, she has lost any dependence on the man, the man inherently feels like he is no longer needed.

[@retsubkrod]

You don't love someone out of need it's out of want

[@mrb152]

They must not be great in bed.

[@susanlovesjava4961]

Not using money is not protecting or providing.

[@sadbug]

@@Cocked-Lockedduuude

[@LouisianaSpey]

My In-laws are the same. Father Inlaws parents passed away a few years ago. They wont spend a dime, well father inlaw want, mother in law would have blown through it already, lol. But me, my wife and brother, and his wife constantly tell them to spend it. Go travel, update your home, buy a new boat, etc. They say, we want to hand it down, We don't want it, your parents passed it to yall, not us. Father in law is TIGHT. Side not, this is their second inheritance.😅😅😅

[@juelz713]

Great show

[@Coryraisa]

Stay anonymous! Be wary of new "friends."

[@nicknguyen5455]

It's all about money!

[@jjpark1989]

You could live off the interest alone

[@g8rayrr]

Rice and beans beans and rice 😮that's alot of a scratch. Enjoy yourselves. Your dad was a great man. He is my spirit animal.

[@9liveslisa]

Invest it and live on 4 to 5%. An inheritance I received years ago is invest in 60% stocks and 40% is kept in a treasury account. I live very comfortably and I want for nothing. And I sleep really well at night. If you don't budget, I would start. Be intentional with your money and if you do it right, you will be fine. Also, just a suggestion, don't spend on big projects until you live with your new budget for a year or two. You'll make better decisions then.

[@genxx2724]

Are you using any of the money? How much do you take per year, and what do you use it for? Thank you.

[@9liveslisa]

@@genxx2724 I budget $1000 per month for recurring expenses, $1000 for food and incidentals, And about $7,600 a year for property taxes, home and car insurance, and income taxes. So I live on approximately $31,600 per year. And I save about $10,000 a year.

[@jkstudent222]

i really like john. wat a great call for him

[@melinda67]

Good for them!

[@JohnDunlap-w8c]

5.7

[@athousandandonenights11]

A lot of people are making the guy out to have more of an ego issue but I think he might be legitimately concerned about losing the money. He’s been the main provider for years and based on what the caller said, doesn’t seem that he’s had a six figure salary. It’s very possible he feels that if they start spending the money they’ll spend it all. I’ve been in that situation and despite having more than enough money it’s still hard to change your mindset when you’re so used to not having enough or just barely making it. Maybe than can put a pause in the house for a few months while he gets comfortable with the idea of having so much money and maybe go to therapy also.

[@backyard1015]

The husband has a monster EGO!!! IF he didn't do it, it can't happen! By having $4-$5 million stashed away. You are free! Yes, it's fun to work super hard and say I BUILT THIS LIFE! But when something gets tossed your way, don't hate life! I see a divorce coming,! Husband will work 80-100 hours a week hating his life and his soon to be ex wife will build her life with a new husband that lives in the reality!!!

[@ianmowbray3284]

John is right, it’s nothing to do with the money. My mother in law when she was young had no money I have now known her for 30 years. Now she’s in retirement with 100ks in the bank and she spends nothing on her self.

[@Ap_twsh]

Ouch that marriage is going down the toilet. He’s losing his position and she’s basically saying I can afford it you can’t. 😂 she’s in control now.

[@royhoco5748]

I would use some of the money to pay for theraphy and counseling for him

[@michaelbender2493]

Tell him it's your money

[@brentlorrilliere6057]

It sounds like she has already commingled it with marital assets as its being invested over time thru a financial advisor. If its being used to improve the house, he is now entitled to half of it. Could be a $4M mistake on her part.

[@dabiz4272]

No way you're married....if you are, it's doomed

[@carolstettheimer9906]

Start a foundation or a donor advised fund at least to help mange the giving it away portion.

[@terryjohnson3479]

Did her father leave the money to her or to them both? Likely he just left it to his daughter and she can do waht she wants because inheritence isn't community property

[@bradycone]

Likely just her. In most states an inheritance is not considered martial property unless it is comingled with the rest of their assets. If that is the case, it is too late. But, that is only relevant in a divorce. Hopefully they get the help they need ans save the marriage.

[@noreenn6976]

I definitely would not put his name on that money.

[@brooklynzoo81]

The issue I need.

[@dannymartial7997]

Her husband is weak-minded. He was given a mind-blowing amount of money, and it completely broke his mind. He CANNOT handle it. He’s completely controlled by this inheritance.

[@sudano9958]

Kinda simple, you have $8.2 million, Build a $900K house with everything you want, leaves you with $7.3, Invest long term index fund 75/25 low cost $5M, Pay off all debt another 100K put 2.2M in MMF or HSA and start living off that at $110K a year and any splurges out of that. In 10yrs your $5M will be close to $10M

[@CorySpears1978]

“She” inherited 7M. “She” needs to enjoy it and be happy. Most ppl never enjoy this freedom. If “He” loves “Her”, “He” will support and cheer “Her” in every aspect!💯

[@suen5006]

I dated a guy who was so insecure about money that he wore the same old clothing. In his drawers were tons of new clothes, gifts from family, but he wouldn't wear them, I guess because his old clothes hadn't fallen off. Sad person.

[@MaeCheek3]

Money only magnifies who you really are... He's looking for a reason to bounce!😮

[@mrsm482]

"What was his name?", "What is your address?" 😂. Thanks, guys. You are awesome. ❤