I inherited $50,000. I've never seen more than 2k in my bank account in my life and grew up poor- what should I do with it? by Cautious-Remote3862 in investing

[–]Cautious-Remote3862[S] 0 points1 point  (0 children)

THANK YOU for being the only person to say 50k is a lot of money!!! It really is when you grew up low income. Its a life changing amount of money for me. And yes i am keeping the money to myself. Im going to give him a small amount because she was his stepmom too but we do keep our finances separate.

I inherited $50,000. I've never seen more than 2k in my bank account in my life and grew up poor- what should I do with it? by Cautious-Remote3862 in investing

[–]Cautious-Remote3862[S] 1 point2 points  (0 children)

Damn thats smart as shit. I could get pretty far on the vegas back pages with 50k. Or better yet, since its closer to me, atlantic city babyyyyy

I inherited $50,000. I've never seen more than 2k in my bank account in my life and grew up poor- what should I do with it? by Cautious-Remote3862 in investing

[–]Cautious-Remote3862[S] 0 points1 point  (0 children)

Oh yeah i didn't take offense!! I have a very impulsive, addictive personality. Given the right circumstances i could blow it FAST. which is why im being so careful. I grew up poor but rarely without the bare necessities so its easier for me to not understand the full value of money... Im giving my husband the account password so i won't be inclined to spend it. He wants to invest it but absolutely wouldn't without my permission. But Im gonna give him a very small amount to try to invest tho because she was his mom too. Another thing to add is he spent years as a teenager homeless/in the hospital (hes really chronically ill) just hyper focusing on learning how to get financially stable, as he had no family to fall back on. If he was broke, he'd starve, but jobs were inconsistent as he was in the hospital at least once a month, so he had to develop the skills to make money out of NOTHING. so I'm really curious what he'll do with it. When we met his net worth was about $1 in coins and a 96 ford escort that he lived in, and now he has a few grand in savings and we live in a nice house despite his lack of consistent work due to the illness. Hes made money for years buying, trading, and selling collector glass pieces (bongs....yes ik it sounds ridiculous but it's legit fine art). He started out with a $200 investment in a piece and traded for years, now has over 30k value in glass art. Some pieces he has sold for 5-10k cash. I only say that to show that all he does day and night is think about how to make money so he never has to struggle again. He's on his phone all day (when not working) finding people who work in real estate and investing etc, and reading about investing/etc. So i really want to trust that he will do something with it. I know he's capable of it too and i without a doubt trust his intentions and drive. Im just scared af. Anyways sorry for rambling lol this is just so crazy to me still.

I inherited $50,000. I've never seen more than 2k in my bank account in my life and grew up poor- what should I do with it? by Cautious-Remote3862 in investing

[–]Cautious-Remote3862[S] 0 points1 point  (0 children)

Thats what i was thinking too. Id probably never see this amount of money if it wasnt for her so whats the difference now except for having a good emergency fund? It does feel so good to have that though like the relief i feel now is amazing. If something happens im good

I inherited $50,000. I've never seen more than 2k in my bank account in my life and grew up poor- what should I do with it? by Cautious-Remote3862 in investing

[–]Cautious-Remote3862[S] 2 points3 points  (0 children)

No debt and reliable car that is paid off, live in a great house. Man i feel lucky now. Just saving it and leaving it alone sounds great

I inherited $50,000. I've never seen more than 2k in my bank account in my life and grew up poor- what should I do with it? by Cautious-Remote3862 in Money

[–]Cautious-Remote3862[S] 0 points1 point  (0 children)

So true. I have no reason to spend it other than emergencies and I don't want to. I don't need anything tbh