Post: #26

Is it possible that your mom will not find out about the inheritance?

You can just quietly move out into your own place and invest the cash without having to go through any pain whatsoever if you can keep the inheritance secret.

Everyone will just think you have moved out - you have the income to do that.

When coming into a large sum of money, (inheritance/lottery win) the best way to manage it always, is to keep it a secret.

Post: #27

Yeah, don't tell them anything about the money. Just move out, invest the money, you can buy a small apartment and live there as well. And forget moving to Canada. go somewhere you will actually like living.

Post: #28

(02-24-2017 03:34 PM)Ethan Hunt Wrote:  Also your income is fairly decent. I'm very surprised you can't afford to move out right now. Story doesn't seem to add up.

There are some really strange parts to his story, but I doubt this is the kind of topic that someone would make up. It's not like a Little Dark situation or anything. One thing I don't understand is why these guys who claim not to speak English very well list their home country as the United States, more often than not. O.P., no need to overthink this. Don't give anyone anything ever for any reason, unless you end up having kids in the future. Some people learn that lesson the hard way and some are too stupid to ever learn that lesson. Don't make things hard on yourself.

Post: #29

Keep it safe, keep it secret.

Post: #30

I had a similar situation to this. Back when my maternal grandfather died he left me a decent chunk of change. In fact, it was enough so that I would have been able to go to any mid-level college for free and that was the plan.

Anyway, the economic downturn hit and everything was going according to plan--or so I thought. Turns out, my mother has wrested my money (with my unwitting help) from my account ward and was spending it to keep herself afloat while she didn't work because of her failing business. This happened back when I was 20 and didn't quite realize what debt was so I took out loans to pay for the rest of my schooling assuming "id be able to get a decent job coming out of college, but this was 2011 and the economy in america was still garbage.

I'm not bitter about this, but I do/did feel manipulated and lied to. If I could go back, I wouldn't have allowed anyone to touch my money and use it. I know that sounds cold, but I am now saddled with debt that I shouldn't have and I am paying off loans. I don't ask my mother for help since I just can't bring myself to rely on her.

All I'm saying is, you should really consider what YOU need and not what others need when it comes to your future and your finances. You could give it to your mother and family and have nothing to see for it in 10 years or take that money, get educated/start a business/travel and feel comfortable knowing you made decisions for yourself and didn't allow yourself to be manipulated.

Anyway, good luck and I hope you are happy with your decision, whatever it is.

Post: #31

No, keep it secret, keep it safe. No one can betray you more then your own family. This is a historic fact. Besides, if you are smart with the inheritance, like others have said, you can turn that 1.2m into much more. Down the road when your relatives are in real dire straits and you've turned that money into solid investments you will be able to help them without a second thought. It will be nothing to you. Play the long game. They may hate you in the present, but boy, when you swoop in in the future with the means to take care of their problems they will never forget you...

Post: #32

From your story man, I would recommend you to use the money to your independence.

If the "moral" side is really heavy, remember that by owning a home and investment you can later use some of it later in life to help your brother and sister (they are not guilty on the situation, if there is anyone to be considered guilty, and they may actually love you).

It is a matter of getting strenght for you first and later helping them.

But worse thing you could do now is share it and throw away this opportunity you grandpa wanted to give you.

Post: #33

Why weren't you able to see your father this whole time before he died? Is it because your mother blocked you from him? If so, why?

From the sound of it the money is 100% meant for you, not your mother or your siblings from another man. That is a lot of money, more than enough to start a life anywhere.

Post: #34

OP, If all's legit, just remember.

CASHFLOW trumps the amount of inheritance anytime.

Use the inheritance as a golden goose that lays eggs for you. Never trim the fat goose, just feed it time to time.

Post: #35

1.2 million is not that much? Maybe, but it is enough so you do not have to work if you don't want to

F U Money




Withdrawing only 4% per year, which should be sustainable forever, that is 48K per year or 4K USD per month; and you wouldn't have to work.
That is more than you will even make after your promotion.

While I am not recommending the course of action from the video, at this time, it does show what is possible with just investing the money in a low cost fund with no more work on your part.

So 1.2 million is at least enough money so you can do whatever you want for the rest of your life.

NOTE: One of the first items in the video is DON'T buy a house. As a guy, you can get along just fine with an apartment somewhere, you don't need to spend hundreds of thousands of dollars on a house when an apartment for much less money would do. Men usually only buy an expensive house because the wife demands it, so she can show off to her friends how 'rich' she is, while the guy is killing himself working 80+ hours per week to keep up with the mortgage/property taxes/repairs/landscaping.

While not clear from what has been posted, I suspect the grandfather left it all to you because he believed that the rest of the family would waste it and end up with nothing left after a few years, or even worse use the new wealth to completely destroy themselves and the family in the process. There are situations where this happened, the family members go completely wacky and end up even getting killed due to drug overdoses bought with the money.

IF you give anything to family members, I would hope that it would only be from the return on the money, and not cutting into the initial 1.2 million. The fact that the grandfather left nothing for the other family members leads me to believe that he feared the rest of the family would waste it and have nothing to show for it.

I think you are going to find that giving money to family members is going to lead to endless requests for money, them never making a balanced monthly budget, and never getting anywhere. The fact that it appears they are in situations where they appear to need endless amounts of money with nothing to show for it seems to show this.

Aldo, Do NOT tell anyone. People who would never use you for money would not want to know unless you were going into an investment or business with them. People who would want to know would only want to know so they can try to get as much as they can for themselves.

I think also that your grandfather believed that the only hope the family has of continuing on in some semblance of good order into the future is for you to take what he has given you, invest/save/build a business with it, and continue on into the future for the good of the family line.

Post: #36

(02-24-2017 07:28 PM)jj90 Wrote:  Nobody else see the holes in the story?

1)OP gets 1.2M, thinks it's not that much money. Yeah yeah estate tax blah blah.
2)Gets 1.2M, still decides to be aiming at VP of a hotel. 1.2M USD is location independence or single individual passive income financial independence instantly.
3)Makes 3.3KUSD monthly, and has a bad economic situation? High cost of living in a small town in Israel?
4)Dislikes his mom but still pays for the house out of pocket? Where's the stepfather's payment in all this?

I know @Ethan Hunt spotted the holes too.

+1. Not buying this.

Post: #37

My advice is put that money in the bank. Apply for a green card to the US... It's not as hard when you have assets. Move to a second tier us city and enjoy the Trumpreich.

Post: #38

(02-25-2017 09:49 AM)Nordwand Wrote:  

(02-24-2017 07:28 PM)jj90 Wrote:  Nobody else see the holes in the story?

1)OP gets 1.2M, thinks it's not that much money. Yeah yeah estate tax blah blah.
2)Gets 1.2M, still decides to be aiming at VP of a hotel. 1.2M USD is location independence or single individual passive income financial independence instantly.
3)Makes 3.3KUSD monthly, and has a bad economic situation? High cost of living in a small town in Israel?
4)Dislikes his mom but still pays for the house out of pocket? Where's the stepfather's payment in all this?

I know @Ethan Hunt spotted the holes too.

+1. Not buying this.

The $3.3K per month is almost nothing in some high cost areas in the US, so we would need to know what is the cost of housing in his area to make a judgement.

As an example of high cost areas in the US, condos/apartment about 45 minutes away from the Apple complex in San Francisco are about $2,500 to 3,000 USD per month for a one bedroom. To buy a condo or house in the same area is around $800,000 USD, meaning the monthly mortgage payment would be at least $4,800 per month.

In that area, someone who has a large mortgage payment and gets laid off from a $200K job, that they replace with a $100K and remains in the area, is ruined. Since even at $100K per year, they can't make the mortgage payments. (100K per year nets $50K after taxes, with a mortgage payment for $4,800 per month, the mortgage takes the entire income and leaves nothing left for anything else.)

Post: #39

delete - I made reply, by mistake, when I meant to edit

Post: #40

Tel Aviv looks as expensive as any western city
It looks like a studio could be rented for around $1,000 USD per month that is a few minutes from the beach. While that is not needed, it shows that it can be done.
There are apartments listing for a lot more also.

I would expect in a smaller city or small town, that it should be possible to rent a reasonable apartment for $1,000 USD or less, per month.

https://telaviv.craigslist.org/search/apa?sort=priceasc

Post: #41

I believe the OP's story, despite some skepticism from other posters. I think he just left out a few things that have made other people run wild with theories.

First off, $1.2m is a lot of money, but at the same time it is not that much money. Any major city, at least in the U.S., you can't retire with that and live the rest of your life with no financial worries. And forgot having a family and kids, which I'll assume the OP will want at some point in his life. No way.

That's only $100,000 a year for 12 years. In a city like LA, Miami, Chicago a bare bones apartment that is acceptable, will run you at least $2,000 a month, more like $2,500+. This isn't exactly balling out either. For simplicity, I'll peg that at $25,000 a year. Now, if he's really shoestringing it maybe he's only spending $350 a week on everything else. That's ~$18,000 a year. So if he's doing pretty much the bare minimum he's spending $43k a year. His money will last almost 30 years, but he basically will have lived on a broke, 1-year out of college budget for his whole life. Then his money is gone and he's only 53. This assumes not vacations, no wife, no kids, etc. Not an ideal life.

The OP doesn't appear to be too knowledgable on personal finance/investing, so I'll generously assume he can make a return of 5% a year on this money, $50k. Moves the needle a little bit, but not significantly. This also assumes he doesn't erode any principle.

I'll admit you can move to a 2nd or 3rd tier city and make it work longer, but $1.2m still isn't that much. It's overlooking the most important thing in personal finance - CASH FLOW. People see a $10m mansion and think its actually going to cost $10m; this is true but somewhat misleading. It actually costs more like $40k a month, much more manageable for someone with solid cash flow. It's not how much, but how much a month. Move to Thailand is this is all out the window, you can do that, but are you really growing and pushing yourself to maximum ability doing that? Sometimes living among the sharks in the west, makes you a shark. Thailand will always be there.

Someone pulling in $1.5m a year (successful lawyer, banker, business owner), can afford that house, even though they may not have $10m. It is the power of leverage people are always overlooking. You'd be much better off pulling in $650k a year with no $1.2m inheritance, than being the OP making $100k at some hotel and have $1.2m inheritance. $1.2m is not that much.

My advice to the OP would be to take a relatively small amount $50k and use that for living expenses for 1-2 years. Take the rest and stash it away for at least 6 months to a year. The point is to remove any emotion that could creep into decision making on how to use this money. Spend the 6 months to a year to figure out how to make this money grow and use it wisely (buy rental properties, buy AAPL stock, start a business). Use that time to also figure out where you want to live.

Move out of that shit living arrangement and get your own place that's modestly priced. Some people just don't have the negative empathy to tell their relatives to fuck off, and I get that. But I think you need to man up and do it in this scenario, your father would have giving your mother money if he wanted to.

Grandma will be fine, she's old at shit anyway and lives in her own house. She'll be eating matzah ball soup every day till she dies. Don't let them guilt trip you. Shabbat Shalom.

Post: #42

(02-25-2017 03:16 AM)Fortis Wrote:  I had a similar situation to this. Back when my maternal grandfather died he left me a decent chunk of change. In fact, it was enough so that I would have been able to go to any mid-level college for free and that was the plan.

Anyway, the economic downturn hit and everything was going according to plan--or so I thought. Turns out, my mother has wrested my money (with my unwitting help) from my account ward and was spending it to keep herself afloat while she didn't work because of her failing business. This happened back when I was 20 and didn't quite realize what debt was so I took out loans to pay for the rest of my schooling assuming "id be able to get a decent job coming out of college, but this was 2011 and the economy in america was still garbage.

I'm not bitter about this, but I do/did feel manipulated and lied to. If I could go back, I wouldn't have allowed anyone to touch my money and use it. I know that sounds cold, but I am now saddled with debt that I shouldn't have and I am paying off loans. I don't ask my mother for help since I just can't bring myself to rely on her.

All I'm saying is, you should really consider what YOU need and not what others need when it comes to your future and your finances. You could give it to your mother and family and have nothing to see for it in 10 years or take that money, get educated/start a business/travel and feel comfortable knowing you made decisions for yourself and didn't allow yourself to be manipulated.

Anyway, good luck and I hope you are happy with your decision, whatever it is.

Fucking hell, Fortis, you are bigger man than I am. I would be bitter.

The guy who was chapped because his mom went lesbo should read this post.

Post: #43

Thanks Debeguiled.

I try not to think about it too much. It's less forgiveness and more selective memory.

I have a mean streak and picking at old wounds brings out my bad side. I buried the hatchet with my mother about 5 years ago and I told myself I'd let it go. I only wrote that story because I think it can help OP see how people can fuck you over if you let them. Til this day, I do believe I did the right thing by helping my mom stay afloat BUT I literally subsidized her life for a few years and crippled my own. Time will tell if it was truly a good decision, but I would struggle to live with myself if it turned out to be a poor decision on my part. Luckily, she's gotten her shit together since then and even appears to be on the verge of major success.

Let's just hope I didn't harm my future for nothing.

Post: #44

Inheritance is not about 'sharing', its about injecting money into a mans life at a time when things can be painful.

I get OP did not know his dad, but any grandfather would still look at his only grandson as the his blood lineage and the rightful person to inherit his estate. Looking at inheritance, when men get it it goes into adding value to an already established business or net worth. Women generally use it to bring their perceived value up, buying things that do not add any long term value. My mom works in the funeral business, and has hundreds of stories that could make any of us lose faith in humanity.

$1.2m is certainly an amount of money that will allow you to live a financially stressed free life. However, there are things that you must/must not do:

- Allow 10% for charity. If this goes to your family, fine. It sounds like its needed. "Charity starts at home" cliche, and all that. But When you are 40, you will likely realize that if your mother did not beat you or mentally break you, then life was not bad. You still have the angst of a young man, which is normal. Time will help. Keep in mind that people think they need charity, but in reality they just financial management.

- Do not give out loans. Ever. They will not be paid back, as they will assume that since you did not earn the money, then its not really yours.

- Real estate is good. A 2bdrm apt in a good, up and coming neighborhood. You could live here, even with a family, for a very long time.

- Travel. Take the money, set aside some time off work and go visit the places you think you want to live. You mentioned Canada, so visit first. See some fun places, chase girls and don't worry about money for a couple weeks or a month.

- Do not splash money. A faux luxury lifestyle will drain you faster than you think. For every truly rich person who can afford $5000 nights, there are 20 more who will struggle to keep up. At 23, you will become a mark fast.

- Keep your job, it sounds like you enjoy it and you have upward mobility. Perhaps buy some REITS that hold hotel stocks, it might help you feel invested into your future. If your hotel is a solid chain, pays dividends maybe invest in it directly. Talk to a financial advisor, 100%.

- Get financial help ASAP. Someone you trust, and someone who you like.

I hope this story is legit, as I mentioned I have heard too many stories from my mother to underestimate the ability of money to ruin families forever. Its when the saying "money is the root of all evil" truly shows.

Post: #45

(02-25-2017 12:44 PM)Fortis Wrote:  Thanks Debeguiled.

I try not to think about it too much. It's less forgiveness and more selective memory.

I have a mean streak and picking at old wounds brings out my bad side. I buried the hatchet with my mother about 5 years ago and I told myself I'd let it go. I only wrote that story because I think it can help OP see how people can fuck you over if you let them. Til this day, I do believe I did the right thing by helping my mom stay afloat BUT I literally subsidized her life for a few years and crippled my own. Time will tell if it was truly a good decision, but I would struggle to live with myself if it turned out to be a poor decision on my part. Luckily, she's gotten her shit together since then and even appears to be on the verge of major success.

Let's just hope I didn't harm my future for nothing.

It's not for nothing so long as you learned something from it. That was money that was meant for your college bills and you spent it on your mom instead. Could your mom have found another option?(bankruptcy or whatever) Sure.

You learned, hopefully, to not to try to save everyone if you don't truly have the means to.

Post: #46

Dudes a troll. Here's his first post:

/thread-59748...pid1456987

Quote:Why my chick didn't want to back to the hotel with me? Im super attractive, 6*7 basketball player, tanned, muscled and shredded, tattooed, good hair style, white teeth, expensive clothes,jewelry and watches. Like with the fuck happend? Maybe she was scared of something? Maybe she had a period? Maybe she didn't shave? Maybe she got fucked before or masteubated?

So OP, you went from being able to afford expensive clothes, jewelry, watches and now?

Quote:
...the economic state is not really good, we have only one old and cracky car whice I share with my mom, and we keep arguing about money, although both of us work.

The responses on what to do with that amount of money are valid, so this thread brought some value, but come on guys up your critical thinking skills here. I don't want this forum to descend into a a bunch of NASA test pilots.

Post: #47

Thank you guys for you're genuienly advices, I must add that I could not HIDE the money from my family, becuase as I mentioned before, I live in a small town (70k ppl) and everyone heard about the death of my grand father, and my mom knows where he lives and what is the cost of his big house, and she knows that he was a kind of wealthy man.

Bottom line I can hide the exact amount of money, but I can't hide the fact that I'm going to get a signifact amount of money.

My mom want me to buy her an house whice is about 250k USD in this city and a car - and to be honest I dont think she deserves it, PLUS it's only the begging becuase once I will give her some money - she will ask for more.

Like I said I'm a young man and I really dont want to waste my life in a small city(70k ppl means not alot of job options and not alot of women options, this like playing a demo game, just like playing GTA before you across the bridge and you got ugly ass bitches and lame cars XD). And maybe even in this country, altough israel is a pretty developed country : Tel-Aviv for an example, I think THIS is the time when I'm still young to move to the BIG WORLD, not sure about canada but maybe some 2nd tier city in the USA or something.

The main conflict is : if I will decide to not give anything to my mother , I will lose her.

The second conflict is : Is she even worth it? I can get a girlfriend who would love me and do anything for me and I dont need to take all this shit and the constanct hedic pain from my mother.

Investmant wise : I'm planning to invest on real estate, buy it for cheap and sell it for more, not sure if in Israel becuase the economic return is about 4% and It's pretty low, I heard that those days England is pretty good place to invest for real estate.

USA Green Card : I thought that for Green Card you must to marry and then after a couple of years and a few tests you will get a citzenship... Can you get an "Express" path for citzenship by investing there in real estate? I really like USA, Music,Night clubs,NBA,Job Options and Options in general, Everything is cheaper - You can buy a corvette for 45K USD and for this amount of money in Israel you barely can buy Mazda - Also in israel the roads are narrow and the speed limit in the highway is about 75 MPH, Gym open 24/7 and got all of the accessiores and machines, liberal women, more women with awarness to take of their body (and do squats) ... bottom line this is like the REAL world this is POWER...

Israel is a little bit of a religous coercion country.. Most of the stores are close in Friday and Saturday, In Pesah you can't find anywhere to eat made out of flour - that means no pizza,bread or whatever contain/made out of flour.
On Yom Kippur (The Forgivness Day) You can't drive a car in the roadway(Actually you can but all the people are walking on the road and children drive in bicycles)
On Holocouast day again everything is closed and no TV channels available.

I must move somewhere else, maybe to Tel-Aviv... Bigger city, More options. And maybe just to the USA whice is the best country with the best options in the world.

Thailand is a third world country, so its not an option for me (To be honest I really hate ASIA)country is barely even developed and you can't even drink there water from the tap and the women there are skinny and not sexy in my eyes. Thailand and the Philliphines are options for an old farts in my opinion, not someone who wants to start his life and have a bright future.

Post: #48

(02-25-2017 01:34 PM)Neo Wrote:  Dudes a troll. Here's his first post:

/thread-59748...pid1456987

Quote:Why my chick didn't want to back to the hotel with me? Im super attractive, 6*7 basketball player, tanned, muscled and shredded, tattooed, good hair style, white teeth, expensive clothes,jewelry and watches. Like with the fuck happend? Maybe she was scared of something? Maybe she had a period? Maybe she didn't shave? Maybe she got fucked before or masteubated?

So OP, you went from being able to afford expensive clothes, jewelry, watches and now?

Quote:
...the economic state is not really good, we have only one old and cracky car whice I share with my mom, and we keep arguing about money, although both of us work.

The responses on what to do with that amount of money are valid, so this thread brought some value, but come on guys up your critical thinking skills here. I don't want this forum to descend into a a bunch of NASA test pilots.

I played semi-professional basketball.. And yeah I got Rolex Aquamarine and Rolex Daytona, A couple of gold rings, a nice 18 carat gold chain , and yeah I like to buy expensive clothes. Does that make me rich? I bought some of those stuff over the years and some I got from my grand father and uncle , and they not worth THAT much.

I dont know if you know, but a new car in Israel (Even something lame like Mazda) Worth about 50k USD. And now I got debts also, so yeah this is an expensive and unaffordable for me right now.

Post: #49

Just give it to me, I'll take care of it for you till you settle family and life issues. On a serious note, give it to me already. On a much serious note, run the fvck away from these people you don't want the negative energy and that's all they have to offer to you. Truth is You're a 23 yo millionaire why would u not do whatever the fvck u want to do?

Post: #50

(02-25-2017 02:08 PM)Yves555 Wrote:  In Pesah you can't find anywhere to eat made out of flour - that means no pizza,bread or whatever contain/made out of flour.

So take your 1.2m, move there and open some Papa Johns franchises. Everybody loves pizza, worldwide. I guarantee (((they))) will love it there too.

Just keep flipping the profits, open more franchises in the West Bank, and hire your mom so she quits begging you for money.

I can't believe they don't have pizza there. No wonder everyone hates eachother. You'll have Mossad and Hamas and you and your greedy mom all sitting together having a delicious BBQ chicken bacon and just laughing away.

Again, I'm here to solve problems.

Aloha!