Received $102,000 inheritance, age 50, advice suggestions requested
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Sigh. All this worry over a couple of minor credit card bills. My cards had a zero balance when I left my job, I used them responsibly and paid them monthly and used all of my points to get $225 in gift card to use at stores that sell professional business attire. I ONLY "ran them up" AFTER I knew that there was an inheritance coming. What I decided to spend that money on are simple luxuries like finishing a corner in the kitchen for additional workspace (so I can make decent meals without my elbows knocking a pot on the floor) I just finished covering a circa 1980's pumpkin/coral dining room into an off white, so I'm not deluged in orange whenever I walk in the front door, and getting the tub replaced and replumbed in the spare bathroom, so that I can have the huge luxury of taking a hot bath.
I mean really, what would YOU do if you had money coming? Wouldn't you at least spend a little to make your life a bit more comfortable? OMG I bought 3 gallons of paint and the tools needed to paint the dining room! Sound the debt crisis ALARMS!!!!!! And by the way, I hadn't done it in the past 8 years because I WAS WORKING 2 or 3 jobs PLUS running my own freaking business!!!
Pay myself into a payment plan? WTH is that? I guess some people just don't read, didn't read anything about how I paid off a 10k roof replacement in 10 months, saved 10k, etc etc. Oh but apparently I'm some huge risk because I had 4k CC debt. Yes I AM disgusted with some of these posts. Read something before you reply, just don't assume, you're only making yourself look like a bleeping idiot.
Sigh. All this worry over a couple of minor credit card bills. My cards had a zero balance when I left my job, I used them responsibly and paid them monthly and used all of my points to get $225 in gift card to use at stores that sell professional business attire. I ONLY "ran them up" AFTER I knew that there was an inheritance coming. What I decided to spend that money on are simple luxuries like finishing a corner in the kitchen for additional workspace (so I can make decent meals without my elbows knocking a pot on the floor) I just finished covering a circa 1980's pumpkin/coral dining room into an off white, so I'm not deluged in orange whenever I walk in the front door, and getting the tub replaced and replumbed in the spare bathroom, so that I can have the huge luxury of taking a hot bath.
That poster said "Are you one of those?". That is a question, not an assumption. Chill out! All you have to say is "No, I am not."
Quote:
Originally Posted by PalmTreeLand
I mean really, what would YOU do if you had money coming? Wouldn't you at least spend a little to make your life a bit more comfortable? OMG I bought 3 gallons of paint and the tools needed to paint the dining room! Sound the debt crisis ALARMS!!!!!! And by the way, I hadn't done it in the past 8 years because I WAS WORKING 2 or 3 jobs PLUS running my own freaking business!!!
We're not mind-readers. Again, chill! I wouldn't personally have done what you did, but that's OK, different people have different preferences.
Quote:
Originally Posted by PalmTreeLand
Pay myself into a payment plan? WTH is that? I guess some people just don't read, didn't read anything about how I paid off a 10k roof replacement in 10 months, saved 10k, etc etc. Oh but apparently I'm some huge risk because I had 4k CC debt. Yes I AM disgusted with some of these posts. Read something before you reply, just don't assume, you're only making yourself look like a bleeping idiot.
I have not read all the posts. If you are still looking for advice here is what I would do. I would set up a Roth IRA and speak to at least 4 financial advisors. Then I would weigh my options. That is what I did. I ended up using a financial advisor with RBC because I did not have the knowledge to invest by myself. I did ask for references and checked his credentials with FINRA. A good advisor should be able to help you become knowledgeable about your investments. A good advisor will also help you reach your financial goals and be available to answer all your questions. It is important to have an emergency fund and to continue to add to your investments.
Yes in those counties rates would definitely be much lower. Even the next county north of me, rates are lower. From Palm Beach to Miami its the heaviest population with the worst drivers, add in seasonals and tourists and its a cluster you-know-what around here. My van was hit 3 times, once in a parking lot where a tourist failed to heed a stop sign, once I was side swiped when someone tried to pass me on the left on a double yellow line, and once on a completely empty but for me and he, 3 lane road, where the other driver suddenly decided to swerve from the far right to the far left, and only the fast application of my brakes kept the accident from being worse, my front fender was scratched with a little dent, the other driver did not stop.
I've called around once before, all rates were higher. Sometimes companies get you in with a low rate, and then jack it up in 6 months too. Lots of scams in Florida.
I wouldn't going telling everyone you know you came into an inheritance. Especially where you live in FL.
You're not rolling in dough but that is decent amount of money.
I would look at long term investments, and treat yourself to something like a trip. But really keep this information under your hat. Otherwise you risk getting hit up for loans or something worse.
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