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I always said if I were to suddenly come into a substantial amount of money (like $1M dollars) I would not tell a soul, not even my mother. I think you are wise not to tell anyone, especially family because that $1M dollars would dwindle very quickly. When you pass is when they need to find out about it. But in the meantime, enjoy some of that money!
I would donate some to charity of my choice or start my own charity.
I don't understand what not telling your family about your money has anything to do with loneliness. You can still hang out with them and treat them to dinner occasionally. You can still have friends who aren't after your money. It sounds like you're using your situation to look for problems, although these are good problems to have. Maybe there's something you're not telling us.
When I was 22 I inherited a ton of money ( doled out monthly) and the first thing I was told to keep my trap shut... as there are a lot of people who’d like nothing more than to part you from your money. It’s sound advice.
Your scenario does not necessarily mean you are a millionaire. You state an asset is a million dollars, what asset. Is this asset a house that's paid for. If you're looking at stocks and bonds etc on a spreadsheet paper those fluctuate too much to rely on and are worthless until cashed in. Unless you have a million dollars in real cash that you can spend right now without an inflationary decrease then you're not a millionaire.
The problem is you only have a million until you start spending it. Finding a way to make the million work for you is the key.
Good luck, Rg
Agreed, and at the beginning of this thread, why would the OP want to hang onto their million, only to die and pass it onto a daughter who would blow it? Making money work and increasing wealth, while spending and enjoying life is a balance. No one with a million should be lonely, money provides a lot more opportunities in so many ways.
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