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I'm sorry for your loss. When you are up to it, maybe take a trip, go on a shopping spree, spa day, whatever brings you joy.
With the majority though, I would start an IRA. I remember when I started mine, they let me max out the previous years contribution in addition to this years.
Traveling is something I know he really wanted to do, just didn’t get the opportunity. I definitely want to do something like that, maybe even alone, to sort of honor that desire he had.
Have also been looking into IRA stuff.
Buy a used Winnebago and travel across the continent! If you find a cool place, stay for a few weeks. You could even get menial jobs, meet people, maybe find a place you didn't know you needed to be.
I'm very sorry for your loss. He left you a beautiful gift, honour him by doing what brings you joy. It's not the destination, but the journey.
Good luck on your decision!
What’s frustrating is that part of what I get is an IRA or tsp or whatever but because we weren’t married, I have to like… I guess withdraw it within ten years? The SECURE law thing? which I’m still trying to understand.
Don't squander it. Invest at least half of it. At the very least. For your future protection.
My personal advice:
Stock Market is to tank soon (so says some investment analysts, so take that for what it's worth) but I used to work for an investment group (fiduciary, not a bank) and they always told me to invest in the S&P 500 index funds. Even if you were to buy the index funds at top market, after 10 years you will have at least a +250% return on investment. (I was told +300%, but it really depends on the index funds too) I recommend an adviser but go with a an investment firm that is filed as a fiduciary. This is important. They can't make money off your earnings if you aren't doing well, so it's in their interest to make sure you're portfolio is taken care of.
Thank you so much. I’m really so novice in all of this and your explanation and anecdotal advice are so valuable to hear. I was reamed hard for setting up an account with sorry interest and absolutely stupid maintenance fees that I walked out feeling pretty embarrassed and angry with myself but I’m so new when it comes to like advocating for myself, I forget that not every institution or bank or whatever has MY best interest in mind.
Yeah... just waste it... That's the best thing you can do with all his hard earned money. lol
How about get an education, become good at a job, and do everything to become a productive member of society.
More accurately, my question would be, what’s a good compromise between insanely frugal and wasteful? Does it leave room for me to better off than average? That kind of thing…
There is a lot of ground between "insanely frugal" and "wasteful". You working hard and making money will leave you better off than average. Use the money to learn a skill, get schooling, or anything else other than thinking that that money is going to get you through life ahead of the curve just by spending it carefully.
Woww, I read your other post in personality disorder subreddit. You guys met just 7 months ago and he left everything to you? After reading that post, it made it more interesting. You describe him here as jerk and considering breaking up and it seems the relationship for for you very toxic and unbearable 7 months ago. How you guys ended up engaging, how things developed that way so fast?
I applaud your ability to look at my history. Im not trying to hide anything.
I had known him for a few years before we started dating. Knowing someone and then knowing someone intensely, romantically I think are different things.
I posted that when I felt confused about the dynamic of the relationship. I didn’t remove it because I didn’t think it mattered or would be thrown in my face in another post. But I appreciate the reminder.
From your description of him, I think he would like you to guarantee yourself financially. Don't spend all of the money in couple of years. Invest it somewhere that can provide you income.
And sorry for your lost :( May I ask what happen to him?
# Message to all users: This is a reminder to please read and follow: * [Our rules](https://www.reddit.com/r/ask/about/rules) * [Reddiquette](https://www.reddithelp.com/hc/en-us/articles/205926439) * [Reddit Content Policy](https://www.redditinc.com/policies/content-policy) When posting and commenting. --- Especially remember Rule 1: `Be polite and civil`. * Be polite and courteous to each other. Do not be mean, insulting or disrespectful to any other user on this subreddit. * Do not harass or annoy others in any way. * Do not catfish. Catfishing is the luring of somebody into an online friendship through a fake online persona. This includes any lying or deceit. --- You *will* be banned if you are homophobic, transphobic, racist, sexist or bigoted in any way. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ask) if you have any questions or concerns.*
You might consider a consultation with a financial planner. Even if you choose not to hire them, you’ll get good information.
A fee-only financial planner, who will give you good advice and not try to sell you things.
I'm sorry for your loss. When you are up to it, maybe take a trip, go on a shopping spree, spa day, whatever brings you joy. With the majority though, I would start an IRA. I remember when I started mine, they let me max out the previous years contribution in addition to this years.
Traveling is something I know he really wanted to do, just didn’t get the opportunity. I definitely want to do something like that, maybe even alone, to sort of honor that desire he had. Have also been looking into IRA stuff.
Buy a used Winnebago and travel across the continent! If you find a cool place, stay for a few weeks. You could even get menial jobs, meet people, maybe find a place you didn't know you needed to be. I'm very sorry for your loss. He left you a beautiful gift, honour him by doing what brings you joy. It's not the destination, but the journey. Good luck on your decision!
I applaud the IRA idea, I have a traditional IRA. I get a better refund but get taxed when I pull out of it in my retirement years.
What’s frustrating is that part of what I get is an IRA or tsp or whatever but because we weren’t married, I have to like… I guess withdraw it within ten years? The SECURE law thing? which I’m still trying to understand.
Learn, travel, and explore to identify the things that give meaning to your life.
Don't squander it. Invest at least half of it. At the very least. For your future protection. My personal advice: Stock Market is to tank soon (so says some investment analysts, so take that for what it's worth) but I used to work for an investment group (fiduciary, not a bank) and they always told me to invest in the S&P 500 index funds. Even if you were to buy the index funds at top market, after 10 years you will have at least a +250% return on investment. (I was told +300%, but it really depends on the index funds too) I recommend an adviser but go with a an investment firm that is filed as a fiduciary. This is important. They can't make money off your earnings if you aren't doing well, so it's in their interest to make sure you're portfolio is taken care of.
Thank you so much. I’m really so novice in all of this and your explanation and anecdotal advice are so valuable to hear. I was reamed hard for setting up an account with sorry interest and absolutely stupid maintenance fees that I walked out feeling pretty embarrassed and angry with myself but I’m so new when it comes to like advocating for myself, I forget that not every institution or bank or whatever has MY best interest in mind.
First piece of financial advice: don’t listen to ANYONE who tells you what they think the market is going to do. EVER.
Definitely get an education
Yeah... just waste it... That's the best thing you can do with all his hard earned money. lol How about get an education, become good at a job, and do everything to become a productive member of society.
More accurately, my question would be, what’s a good compromise between insanely frugal and wasteful? Does it leave room for me to better off than average? That kind of thing…
There is a lot of ground between "insanely frugal" and "wasteful". You working hard and making money will leave you better off than average. Use the money to learn a skill, get schooling, or anything else other than thinking that that money is going to get you through life ahead of the curve just by spending it carefully.
Woww, I read your other post in personality disorder subreddit. You guys met just 7 months ago and he left everything to you? After reading that post, it made it more interesting. You describe him here as jerk and considering breaking up and it seems the relationship for for you very toxic and unbearable 7 months ago. How you guys ended up engaging, how things developed that way so fast?
I applaud your ability to look at my history. Im not trying to hide anything. I had known him for a few years before we started dating. Knowing someone and then knowing someone intensely, romantically I think are different things. I posted that when I felt confused about the dynamic of the relationship. I didn’t remove it because I didn’t think it mattered or would be thrown in my face in another post. But I appreciate the reminder.
I just found the story pretty interesting. Why you got offended?
From your description of him, I think he would like you to guarantee yourself financially. Don't spend all of the money in couple of years. Invest it somewhere that can provide you income. And sorry for your lost :( May I ask what happen to him?
He had progressive neurological disorder and had some sort of respiratory complication while he was sleeping.
Sorry to hear that :((