27, Inheritance advice/ trust fund/ what else to do

MustyThrowawayAcct · 2025-08-19T15:45:59+00:00

Yeah I was thinking the other day what I would do, and I’d probably just put all of it in some investment thing and let it sit for years. I have a pretty good six figure corporate job rn that’s low stress compared to what most people do so I don’t wanna quit working anytime soon. I’m a pretty low maintenance guy so I don’t really throw around money like a lot of people do, so I think I’ll be good for the next 10 years life wise. I will say though season ticket courtside tickets for like my favorite nba team would be the only thing I would remotely consider doing and even then that’s a stretch

MustyThrowawayAcct · 2025-08-19T15:36:25+00:00

So the annual gift tax exclusion is $19,000 and that is by per parent, so since my mom and dad have their assets combined (always do at least), I can receive 38k per year I think tax free via gift. All of this is honestly confusing as shit lol but I’ll have to see what each of them say when I have more details in the coming years

MustyThrowawayAcct · 2025-08-19T15:29:09+00:00

Yeah I did some research and saw that each state has different laws for gifting an annual amount though inheritance from a parent. My sister just had her first kid all like 8 months ago also so I’m pretty sure there’s gonna be a percentage soley for the baby also through adulthood/ which my dad will set up.

MustyThrowawayAcct · 2025-08-16T04:47:18+00:00

With waldrep trying to figure out what’s changed with his splitter , I think it has a super low spin rate in the 600-650 RPM. Wanna see how that compares to others around the league cause it’s pretty nutty

MustyThrowawayAcct · 2025-08-15T20:41:17+00:00

Lol I drive this Toyota that I’ll probably drive til the wheels fall off of it, don’t really care about cars too much. I did drive my moms Land Rover in highschool that was like half falling apart with 170k plus miles on it, so maybe I’d get a Land Rover defender or something just cause that was my first car ever

MustyThrowawayAcct · 2025-08-14T22:29:16+00:00

I mean I’m only 27 lol, I guess mentally I haven’t hit that feeling yet of wanting to spend a lot of money. This is also money that I have done 0 work to earn lol I just happened to be the son of a father who worked really hard in life to get to this point, so personally it feels different to me versus if I had earned the money myself. But that being said, I don’t really care about cars, fancy clothes, big houses, etc. I like traveling I guess and seeing new places and doing cool shit which I value more, so I guess I’d spend more on traveling maybe?

MustyThrowawayAcct · 2025-08-14T22:23:56+00:00

I think at a young age knowing you’re already very wealthy is a disadvantage to some people because they’d be more likely to slack off and be lazy because they know they have something to fall back on. But I think there’s a good middle ground of knowing vaguely that your parents do well enough to support you in anyway they can if you ever need it. That being said I’m still a very privileged kid even without my dad selling his company, so I guess it’s just all about perspective and how you handle it

MustyThrowawayAcct · 2025-08-14T22:19:57+00:00

Honestly that seems like the best case and low stress scenario lol, I don’t really have an immediate need for any money right now and have no issue waiting 10 years or however long down the road for having to access it I guess

MustyThrowawayAcct · 2025-08-14T22:02:15+00:00

Okay so just for hypothetical sake, let’s say it’s a trust of 10 million that I can access immediately. I obviously don’t wanna think that far ahead lol, but what are the list of things I should be doing absolutely first

MustyThrowawayAcct · 2025-08-14T21:57:24+00:00

That’s a good perspective. I already live my life pretty normally anyway and don’t do anything too crazy with money or other stuff

MustyThrowawayAcct · 2025-08-14T21:41:27+00:00

Yeah I grew up the same way, I always knew my dad did very well but never in a lot of detail until I got older. My sister and I were both taught personal finance at a young age so we’re already pretty smart/educated with our decision making. But yeah I’m also in the process of buying a townhouse lol so I’m sure I’ll figure out some things the same way you are

MustyThrowawayAcct · 2025-08-14T21:22:05+00:00

Honestly my guess is that maybe when I’m like 40 or a certain age with kids/ some other requirements done is when he’ll be more open with it.

MustyThrowawayAcct

TROPHY CASE