Don’t forget to support FOSS software you’re using, including lemmy & your home instance
Congrats, how old are you? How will this money change the way you live your life?
I am 18, and this means I’ll probably never have to worry about finances in the future. So hopefully that means I can pursue passions and not have to worry about work
I recommend you put it away and pretend it doesnt exist for a minimum of 10 years.
Firstly, fuck you.
Secondly, depending how multi we’re talking about on the millions, it might not be enough to just live life however you want. Look up the 4% rule and FIRE (Financially Independent, Retired Early) to really work out the maths of it all.
Secondly, while it’s tempting to jump into abandoned hedonism and drink away the years, I’d strongly argue for still finishing your studies and then working. But you get to only work for things you want to do, not have to.
Either start your own things or join others, maybe NGO work, maybe something manual and small, maybe art, whatever floats your boat.
You might have a concept of how lucky you are, but you’ll never truly understand without having worked away years of your life first.
Hopefully you can understand why some people close to you are upset. It’s a raw deal busting your ass in a 9-5 your entire life then seeing someone inherit millions when they turn 18. You didn’t earn it, and as long as you know that, you can probably avoid becoming an asshole.
I don’t even know you and I hate your guts. But at the same time, I would love to be in your place. So I also don’t hate you. If I was in the family and watched this happen to you, I’d probably just hate you.
I get it. I have no argument why I deserved it.
Mate, living the dream!
That sounds like it could really complicate dating because you wouldn’t know if they were with you for you or for the money.
Uh, that’s not a question.
How are you doing?
Good, but overwhelmed. It all caused drama when he first passed and we read his will. Then it settled but now that I’m about to graduate people are getting angry again
I imagine that kind of money could really tear a family apart. It’s ridiculous really what it turns people into.
I hope things go well for you.
Want to go halfsies with me on a steel workshop building? I’ve been quoted about 80k total with the concrete foundation. I’ve got the land and 40k saved. Gonna do woodworking and EV conversions and eventually open a school for “technical enrichment” combining tech/hacking/vertical farming and EV/solar stuff. I live in an area that’s kinda podunk and most of the local kids just go work at Dairy Queen or something.
A lot of people probably gonna ask you for money, so no worries either way. Congrats, if you’re not fulla crap 😁
You hiring?
What’s your opinion on Marlene Engelhorn’s handling of her inheritance? I don’t mean this as a suggestion or condescending, I am merely interested in what your thoughts about her are as someone in a similar position.
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I can try
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Here’s hoping you get some money!
Good luck! I’ve heard one should get a good financial planner and shit for that.
Or just chuck a large amount into some savings thing regardless. I’ve known of those even with financial planners to have it all go horribly wrong.
What has been the overall reaction here when you mention that?
When you say here do you mean on lemmy? Or just like in my life?
Both.
Well on here it’s a pretty reasonable “we hate you because you’re now a 1% a-hole” which fair enough because it is ridiculous. But followed pretty swiftly by “now that I got that out of my system, here’s some advice and some things to look out for and hope you don’t become the worst kind of person”. So I’d say a pretty reasonable group of lemmy-ers.
Personally my friends think that means they’re rich too. Which I get that lunch and drinks are on me eternally but I’m not just buying everyone a house and cars. On the other end most of my family is just plain upset because no one else got a really significant inheritance, so they are all understandably pissed off. I’m really not sure what I’m doing with it all yet but I hope they don’t just straight up cut off contact with me because of it.
What’s stopping you from using your wealth to make an instance for wealthy people (which I might become a part of)?
So how did you get it? Hard work or a lot of luck? Inheritance, maybe?
Also the obligatory “can you spare some?”
I’m very sorry to have to tell you you’ll be getting a lot of that once people know. Keep it to yourself as much as possible
Ah, also: what do you think about taxes? Do you feel you should pay less now that you have more, or do you feel you should at least pay your fair share?
Just to be honest here: I think taxes should go up and up with higher income / total value, up to 100% income or just the value of a person minus the max value we set that a person should be allowed to have. I don’t think billionaires should be allowed to exist, there is no reasonable explanation you can give me that can honestly say " yeah, billionaires are fine" while at the same time we have thousands of homeless that cantt have a home even with two jobs
Inheritance.
And from what I understand even with high taxes I’ll still have a lot of money so it doesn’t really matter to me what they are
the normal answer
Lucky you, happy for ya
What’s your favourite dinosaur?
Raptors
Oooooh fiesty
How much do you plan to use to help people? You know, the homeless, hungry, uninsured, debt-hell suffering people who just want to live their fucking lives but can’t because we live in a capitalist hell?
I honestly don’t have a plan. Of course I’d love to say “I’m only taking what I need to live and giving the rest to charity” but until I do that it’s not true and I’ve just been trying to finish school and haven’t put near as much planning into this as I probably should have
I’ve thought about this quite a bit and should I come into a windfall of money I would put most of the money in a trust that only pays me a set amount for living and maybe other distributions for family or charity. But I have yet to have this problem so it’s all a head experiment for me.
If you’re open for suggestions: Buy several flats that you can rent out at maintenance cost to people that need it (+ a small premium so that you have an income to live off). You can target students or other people that need a temporary home.
If you are a dollar multi-millionaire, you should be able to afford maybe 10-20 small flats, if you take an annual premium of 5k per year that gives you an income of 50-100k, and likely still lets you rent out cheap. If you prefer to not spend all your time managing rental properties, and to have normal job instead, you can hire someone to manage the rentals and bake the price of that into maintenance costs, while you live off your ordinary income.
Alternatively, I’ve heard of a “rent-to-own” type deal, where people pay maintenance cost + some sum each month, and they own the apartment once the total payment equals the price of the apartment (obviously, percentage ownership increases gradually throughout the down-payment time). It’s a deal designed to help people that struggle to get a loan into the housing market.
To summarise: With enough starting capital, you can essentially start a self sustaining non-profit that rents out flats to people at maintenance cost. If you have enough flats and take a small premium from each flat, you can even make enough money from that to buy more and help more people. By giving people cheap and secure housing you can change lives.
If you are a dollar multi-millionaire, you should be able to afford maybe 10-20 small flats
Hahahaha~hahaha sendhelp~
Edit: I kept reading. It’s 25mil, so that’s actually a reasonable estimate.
I made the quick estimate that you can get a small flat (i.e. one- or two-rooms) for something like 300k-600k (completely depending on location of course). 10-20 of those should then cost somewhere from 3-12 million USD. I would say that assuming “multi-millionaire” puts you somewhere in that range is reasonable.
English isn’t my first language though, maybe “flat” is the wrong word when I’m thinking of a one-room or two-room apartment that’s about 30 m^2 (325 sq. ft.)? Is that what you would call a studio apartment?
Can I have $1?
Willed some money? Selling a company?
I was left a trust of $25M and a $5M property by my grandfather
Do you plan on working?
My plan was always to be a beautician and I’m going to carry on with that hopefully
Sounds to me like you’ll be owning a salon maybe? Get some business management training first, or you’ll lean into that money a bit deeper than you thought.
For sure. I want to definitely take business classes
Hello sir or madame I have a crypto project you might be interested in!
Get ready for alot of that.
