[USER]

• Married each making $200k/year
• 2 kids- already have monthly contributions to 529
• Net Worth is about $2M
• 10 rentals

So already well on the FI path and not sure how to handle/invest such a large influx…

Additional Info:

• No big decisions for a while.
• Both planning to still work, we like our jobs, but definitely work less.

[John]

I’d switch from accumulation and earning to being a philanthropist and putting the money into doing good…

[Maddison]

I’d retire.

[Kevin]

I’m still trying to pick my jaw up off the floor after reading this …

[Andrea]

I’d buy a chunk of forest and leave it untouched. I feel like so much beautiful nature around us is disappearing, but I’m a tree hugger, so you know..

[Cindy]

Pay off my mortgage and brethren’s mortgage… Go on a great family vacation in Europe. Set up 2 trusts with a million in each for kids to get at age 30. Donate some to set up military kid’s scholarships. Go to my kids’ school and pay off every kid’s lunch money account that is in arrears and prepay for 3 more months.

Give every teacher at my kid’s school $1000 Amazon gift card.

Invest all the rest and enjoy life.

Useful: Inherit $350k, pay off $290k mortgage and $28k car, best use?

[Anne]

Start a nonprofit, purchase a bed & breakfast, locally or abroad, buy empty land for future development in places like Hawaii or other tourist destinations/desirable locations, start a conservation project that calls to you- reforest land, clean a beach/river bank, buy part of the Amazon rainforest? Get a big ass boat? Invest in water rights, organic food and farmland.

Also -ignore the haters & buy some bitcoin & HODL

[Jake]

I wouldn’t do all that much. Put it where I put extra money now. Worry less. Keep spending lots of time with my kids.

I would keep my mouth shut though. People know I’m not broke, they know I have some money. I would not draw enough attention with this windfall to have people questioning what’s going on.

Related: Should I use inheritance to pay off my high-interest mortgage?

[Nabiha]

Love having this issue in my life!

Well, you can do so much such as bringing the difference in the lives of people who genuinely need help, explore the world, make memories with your family, see how you can help building orphanages and soup kitchens in the poverty stricken areas.

Do acts of kindness that ripple through communities, leaving a lasting, positive impact in the lives of others and it will give you the sense of purpose. All the best!

[Damaso]

If it was me I would definitely learn how to make that money work to create generation wealth. I don’t have that much money so I don’t know if that is even enough to create what Imagining.

[Dillon]

Focus on life with our kids.

Assuming you have the actual inheritance in hand. If so, sorry for your loss.

Personally we both would leave corporate on that amount but at least one of us. More fun with entrepreneurship if the desire to still earn.

How much are the 10 properties worth? How much is still owed on them? Rates?

Given the large cushion, I’d likely pay them off if a higher rate to increase the cash flow off of them.

What is the situation with your primary home? Staying or moving?

[Candice]

Take time to figure out what matters most to you.

Eg if you love work, keep working.

If you love traveling, do more of that.

If you love volunteer work, do more of that.

Don’t make any hurried decisions.

Keep it simple- invest, spend less than you make, teach the kids lessons to help them be financially literate, and leave a legacy. Our time here is short.

[Ellie]

PRAY. You’re being given more than 99.9% of the world, and what you’re giving has power to change a LOT of people’s lives. Knowing that, if it were me I’d be praying hard to God for direction and searching the Bible for wisdom on how GOD would have you mobilize your resources for huge impact in the world. Jesus said, “to whom much is given much is required.” He also had some strong warnings against keeping one’s wealth for yourself instead of sharing with needy. Luke 12: “Then he said to them, “Watch out! Be on your guard against all kinds of greed; life does not consist in an abundance of possessions.” And he told them this parable: “The ground of a certain rich man yielded an abundant harvest. 17 He thought to himself, ‘What shall I do? I have no place to store my crops.’ 18 “Then he said, ‘This is what I’ll do. I will tear down my barns and build bigger ones, and there I will store my surplus grain. 19 And I’ll say to myself, “You have plenty of grain laid up for many years. Take life easy; eat, drink and be merry.”’ 20 “But God said to him, ‘You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?’ 21 “This is how it will be with whoever stores up things for themselves but is not rich toward God.” Finally, this is another verse I think of often: “Command the rich to do good, to be rich in good deeds, and to be generous and willing to share. In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.” (1 Timothy 6). … If it were me, one of my priorities would be building affordable housing or shelters for mothers and children sleeping on the streets or in cars in my city (Atlanta). I’d also put a focus on rescuing children from sex trafficking globally. Prayers for you!

[Sarah]

Read “Die With Zero.” Pay off any loans that you have. Set up a trust and put $1 million for each child into it and let it grow. Choose something philanthropic that you’re passionate about, and put $1 mil toward that. Take a special family vacation.

Invest the rest in FSKAX/VTSAX.

Retire if you want to.

[Khrystyna]

I would hire an organic vegan in home chef, invest in my physical and mental health through hiring best in the fields fitness, naturopath and coaches.

Then would world school my child with incredible mentors in their fields,that are aligned with his interests, volunteer around the world, sign up for incredible experiential type travel, like going on expedition to Alaska, flying into space, paying for wells in deep villages in Africa, etc.

[Ally]

First, take a Pause.

Write out a priorities list for you both and your kids. Include everything: The practical, previously impractical, wants, needs. Etc. and work from that list.

Spend your time doing what you want to do. If you enjoy working keep working. If you want to retire, retire. If you want to travel, travel. Remove the things you may not want to do anymore – consolidate the 10 rentals down if you want and/or hire out the management if you don’t want to do it anymore.

Set up a trust fund for each kid.

Invest enough so that each kid/and future grandkid doesn’t have to worry about school or housing.

Write out the most influential people and organizations in your lives and quietly make donations or pay offs for each of them in varying amounts over the coming years.

[Author]

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