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Mom Confessions Mom Confessions

Have you ever came into alot of money bc of someone dying? ex: mom,dad inlaws

Anonymous
Posted by Anonymous
  • 18 Replies

We just learned that we are going to be coming into about $700,000 come next month and we feel like we cant take that. That might not be alot of money to some ppl but shit more than half of that will be put into savings if we do take it and into cd accounts for our girls.

Posted by Anonymous on May. 6, 2012 at 3:56 PM
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Replies (1-10):
kikibix
by Platinum Member on May. 6, 2012 at 3:58 PM

Why do you feel like you can't take that money?

MommaRoseT
by on May. 6, 2012 at 4:00 PM

I don't understand. Why would not be able to take the money?

Anonymous
by Anonymous - Original Poster on May. 6, 2012 at 4:00 PM

Idk maybe I am still in shock from the passing and all. He was only 53.

pinkjimmies06
by Silver Member on May. 6, 2012 at 4:04 PM
Don't touch the principle. Sock it away and let it grow for your retirement. With SS going down the tubes, every penny helps.
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bec94
by Gold Member on May. 6, 2012 at 4:17 PM
1 mom liked this
It's ok to take it. If you really want to do some good with it put some away and buy for a child or 2 off of the angel tree every Christmas in their memory. Maybe a thanksgiving dinner and a shelter too.
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Anonymous
by Anonymous 2 on May. 6, 2012 at 4:23 PM
I think that it would be rude not to accept it. It was left to you for a reason. Just don't spend it frivolously. Remember you will lost close to half in taxes if it ins't part of a trust...
Anonymous
by Anonymous 3 on May. 6, 2012 at 4:32 PM
My dad was a millionaire when he died. I inherited a little bit of money (mom got most of it). I know its not much but because of it I could buy a house paid off completely, a vehicle, all of college tuition, & stay at home with my daughter after she was born. I would much rather my dad here though. I wish he could have met his granddaughter. It does help when you are grieving even though it doesn't help the pain. Sorry for your loss
all4Him999
by Bronze Member on May. 6, 2012 at 4:40 PM
1 mom liked this

I have serious advice for you.  Get a financial advisor ASAP.  Don't try to manage a win-fall by yourself.  This is a blessing from someone who obviously cared about you.  Honor his memory by getting a professional to help you turn this $700K into millions.  Don't feel guilty, he chose to give it you.  Only feel guilty if you waste this awesome opportunity to be financially secure for the rest of your life.  

Anonymous
by Anonymous 4 on May. 6, 2012 at 4:42 PM
When my grandma died she left each grandkid 5 million. The rest went to her kids. She split it up, so i got 500k for my 18th bday. 1 million for my 21st. And then the rest for my 25th.
I am so glad she did it that way. I blew through the first 500k with nothing really to show for it. I was more responsible with the million and bought a house, and next year when i get the rest , I plan on investing it all and building interest. Good luck op
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Anonymous
by Anonymous 4 on May. 6, 2012 at 4:48 PM
Why do you feel you shouldnt take it
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