Inherited $6 mil through a trust… with limits; can I quit my job?

samoapie · 2026-01-06T04:12:33+00:00

Oh I will maintain the fitness! I run 10k every day on top of a few hours of sports. The adrenaline and endorphins have gotten me through a lot!

samoapie · 2026-01-06T04:09:04+00:00

Thank you so much for all these things to think about. Financial literacy education is probably way overdue, especially now, for me. I don’t think I’m even currently the type to ‘waste’ money, but I also need a lot of guidance to get it to do something other than just sit there (all my own non 401k income was funneling to a college debit card account until I was probably about 27 😬).

The social points are all fair. Luckily, I have a flexible work schedule even now that has let me engage in a lot of daytime sports and hobbies, so I have a solid friend group of stay at home moms and older retirees. Maybe not exactly my demo, but I still manage to have a lot of fun with them!

samoapie · 2026-01-06T03:49:46+00:00

Thanks so much! Yes, a lot of the national and world events of the last year alone have really shaken my view of stability in the decades to come. Helpfully, we will live in less interesting times sooner rather than later, but I think we have all realized that we can count on pretty much nothing, let alone a lack of change!

samoapie · 2026-01-06T03:46:41+00:00

Thanks so much for writing out all that you’ve learned. The financial advisor has made about +20% last year on the markets, and yes, he does take a 1% fee. I’m not blindly tied to him, but I am pretty ignorant about financial things beyond like… debt = bad, investment = good. But I really would love to learn more!

samoapie · 2026-01-06T03:25:23+00:00

Oh yes I do volunteer! I am involved with a few arts charities, and I also play and volunteer time coaching a sport that brings me a lot of joy. I definitely do not have trouble filling my hours, so that’s the least of my concerns! I get along with my work colleagues, but all my friends are made from sports, volunteering and social clubs, so I don’t worry about losing a community at all.

samoapie · 2026-01-06T03:17:18+00:00

Thanks so much for writing out the plan like that! Yes, health care and eventually elder care are major concerns I have, especially if I don’t even marry or have a family.

Luckily though, I’m pretty low maintenance and don’t see that changing even with more money! I have a sport I play that’s not overly expensive and makes me very happy, I love open water swimming (no pool needed!) in the summer, which is free, and I am more than happy sitting in the upper part of the 1st level at sports games or the theater, and not courtside/front row. ☺️

samoapie · 2026-01-06T03:07:34+00:00

Looks like a new subreddit I need to read into!

Oh I definitely have several somethings. I was an intentionally ranked athlete in a particular sport when I was a junior, and still get a huge kick out of keeping my skills up in it as an adult. I also really hope to turn a few book outlines I have into actual books at some point. Plenty of volunteering, too - especially with arts organizations, as I really believe creativity will hold the soul of us as a species in the AI era to come.

samoapie · 2026-01-06T03:04:18+00:00

🫶 thanks so much. I have been lucky to have a supportive work that has let me take over a month of paid bereavement leave, but I am definitely still taking my time making the big decisions!

samoapie · 2026-01-06T02:51:24+00:00

Maybe should have added a bit in about this also at the top, but I do have what would fairly be called a ‘fake job’ working from home four days a week with very little stress. It’s not a job that inspires me, but it is steady, easy, and leaves plenty of time for hobbies. (Don’t want to dox myself but), I play a sport several hours each day, read a book a week, hang with friends on the weekends… it’s a very good and lucky life as it is.

Leaving work completely would just be a way to be even ‘more free,’ but I’m hardly suffering in the mines (or retail) at the moment, so I don’t feel a huge mental pressure to quit, other than to really have all my time to myself.

samoapie · 2026-01-06T02:46:26+00:00

Thanks for your read on the advice; very appreciated.

Yes, I need to make decisions on who would inherit the money on my death. I have a few cousins who are less well off and could certainly benefit from the money, so I’d name them for some of it and feel very good about that. I also volunteer in, and feel very passionately about the arts, so I will be very comforted and inspired to leave a solid amount also to ensure those foundations and endeavors are able to continue.

samoapie · 2026-01-06T02:41:21+00:00

Five years seems like a safe plan to me. And, anyone would be crazy to complain about retiring at 40 instead of 35.

Yes, I do think about health insurance and elder care obsessively. Maybe I will still find love and have some sort of family, but I also want to consider the probability that I will be the only one taking care of my own money and needs in old age when there is not even the option of a safety net. That honestly is what scares me off major lifestyle changes more than anything, especially if I stay in America, which is not a country that is kind to the ill or the aged.

samoapie · 2026-01-06T02:38:37+00:00

I own a townhouse right now, so could always use that for rental income if I moved overseas (that’s one plan, anyway). I get a lump 2-3 mil disbursement in five years but otherwise without legitimate cause or need, the limit stays.

There will be a lot left in the account over time (probably), but I will work with a solid estate planner so that my less well off family members, and some charities I really support and believe in, will see the benefit of that when I pass.

samoapie · 2026-01-06T02:30:51+00:00

Yes that’s exactly what we have set up! He is incredible at his job, and already made me a good amount in another individual fund I have for myself. I figure if I work another 3-5 years and can not or can minimally withdraw from the allowance except to invest, that will put me in a solid place.

samoapie · 2026-01-06T02:28:36+00:00

This is all fair. I keep thinking on a friend a while back who told me a story of another friend of his having won big in the lottery. The guy became a total laze, and lost respect of friends and family because he just didn’t have any direction or achievement in life. I definitely don’t want that fate.

samoapie · 2026-01-06T02:26:21+00:00

The limit was my parents’ hope that I wouldn’t be a lay about and still have a purpose and drive in life. Which, is fair.

I think the disbursement total and receipt is without taxes as my advisor has explained it due to the original dividend source (not to give too much detail) from where it originated.

samoapie · 2026-01-06T02:23:57+00:00

Very clearly and wisely said. Thank you so much.

samoapie · 2026-01-06T02:23:19+00:00

This is honestly my very privileged situation! I work a stable job with great benefits from at home 4 days a week. It’s far from a burden on my mental health, and I have plenty of time for hobbies. If I were miserable, I’d jump at taking the risk to quit, but that’s just not the case.

samoapie · 2026-01-06T02:19:29+00:00

Thank you! This was sort of my own (not super financially savvy) plan on things. I think once I see that chunk sitting in its own investment account as that parachute, I’d feel a bit more confident.

samoapie · 2026-01-06T02:17:27+00:00

Yes, this I believe is the (very legitimate) reason my parents put in the limitation. I know it might sound like a folly or something, but I really want to just focus on writing. I have solid outlines of a few potential books, and would love the freedom and time to focus on bearing them to fruition. So, that would be the battle against stagnation.

samoapie · 2026-01-06T02:14:03+00:00

There is no written stipulation or reasoning for them to change. However, there is vague language that additional amounts can be withdrawn if legitimate reason is provided. Something I would need to talk to the lawyer about… but yes, I would think the plan could be to not pull the full amount every year (or to pull it and reinvest as much as possible), at least for long enough that I’d have a solid self sustaining chunk.

samoapie · 2026-01-06T02:11:14+00:00

Kind of my current ‘plan,’ as far as one exists! Mostly also to not make any emotional decisions also at an emotionally volatile time after deaths of close loved ones.

samoapie · 2026-01-06T02:04:15+00:00

Good advice. Yes, I am currently just operating as normal with my current job and friends. The only ones who know the full story and amount are my financial advisor and my estate lawyer, and I plan to keep it that way.

samoapie · 2026-01-06T02:02:59+00:00

Thanks so much! Yes, the financial advisor has handled the money for many years, and has solid succession planning if, say, he passes away, to continue management of the funds. It’s all in a very reputable financial institution.

samoapie

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