Dad granting me up to $1 million, now what?

[MaximusPlatypus]

My family is heavily invested in a company, and it just exploded. (Will not give specific details)

He plans to sell off $10 million worth of his shares, and has hinted that he will give me anywhere from $500k - $1 million dollars.

I'm the only one in the family studying business/finance. I plan to spend maybe $100k on property, and a good vehicle, as well as pay off debts.

The rest, I want to multiply.

What do?

Has anyone here actually handled large amounts of money?

It's a bit daunting TBH

isthisreallife

[IIMaCkiNII]

Just stopping by to say how jealous I am.

Have a good day.

[SkyDaddy]

ballin. I should have the same when I'm older, though I'm not wishing on my parents' deaths lulz.

Anyways don't ask misc for business/investment advice, look into it bro.

[skn&bones]

stocks man, be careful, or really big amounts on bonds

[ragingcrayon]

buy cheap sell high. big ticket items in ur case.


























on craigslist

[twdy]

i'd donate it to the misc

[VaughnTrue]

Buy a 250k house. Take a mortgage out on the house u now own. Rent house to pay off mortgage.


Start own business.



Profit.

[MaximusPlatypus]

ballin. I should have the same when I'm older, though I'm not wishing on my parents' deaths lulz.

Anyways don't ask misc for business/investment advice, look into it bro.

I know right lol... he mentioned that when he dies, we (kids) will inherit his estate...

He put on 30lbs in the past 2yrs, saw him eating mcdonalds:



not srs

































.


























maybe srs

[mrawdtsi]

talk to a financial advisor... the misc is hardly the place to put that much faith into. especially when handling that much money.

in the same boat, sort of. recently came into a large sum of cash, and recently spoke to a FA, who has set up a portfolio of investments for me.

best advice is to seek the help of a professional.

[MaximusPlatypus]

Also I've been thinking of at least talking to a financial advisor dude... but with some of the horro stories I've heard, and my general distrust for ppl handling my money, I'm a bit paranoid

I was honestly considering flying out to the states and talking with this badazz business prof I had... someone i feel like i can trust

edit ^ strong post correlation ratio

[Dave P]

I would wait until the money is in my account.

[arn710]

Yeah the misc is definitely the best place to go for advice on this

[Ecnewyx]

My family is heavily invested in a company, and it just exploded. (Will not give specific details)

He plans to sell off $10 million worth of his shares, and has hinted that he will give me anywhere from $500k - $1 million dollars.

I'm the only one in the family studying business/finance. I plan to spend maybe $100k on property, and a good vehicle, as well as pay off debts.

The rest, I want to multiply.

What do?

Has anyone here actually handled large amounts of money?

It's a bit daunting TBH

isthisreallife

Biggest Misc blowout party ever? And then hire a financial advisor. Or use whoever your dad is using for his. You don't need any of that money right now.

[Murph0408]

quite jealous. i'd do the car/property thing first too.

getting something like a nice apartment and renting it out seems like a pretty solid idea

[mfux]

You're studying finance but don't know how to invest?

[frog-tech]

share some with the misc. how about those on the first page of this thread get $100 each.

[SkyDaddy]

I know right lol... he mentioned that when he dies, we (kids) will inherit his estate...

He put on 30lbs in the past 2yrs, saw him eating mcdonalds:



not srs


maybe srs

bahahaa made me lol, the gif got me.

anyway good luck to you, property would be cool.

[cobhc]

Save a good portion of that dude.

[CarlMcGuirk]

At age 22 you should sit on almost every single dollar of that and invest it into safe returns, otherwise you'll be retarded and end up blowing it all and your dad will disappoint.

[PotKettleBlack]

Also I've been thinking of at least talking to a financial advisor dude... but with some of the horro stories I've heard, and my general distrust for ppl handling my money, I'm a bit paranoid

I was honestly considering flying out to the states and talking with this badazz business prof I had... someone i feel like i can trust

edit ^ strong post correlation ratio

Do that, then. Don't ask for advice here, seriously. Although with that said, the investing in property idea posted above isn't bad...

[mrawdtsi]

Also I've been thinking of at least talking to a financial advisor dude... but with some of the horro stories I've heard, and my general distrust for ppl handling my money, I'm a bit paranoid

I was honestly considering flying out to the states and talking with this badazz business prof I had... someone i feel like i can trust

edit ^ strong post correlation ratio

mine is being handled by fidelity investments. solid company, great feedback, and so far has done right by me.

check them out.

[blinkers88]

Give it to Eric Sprott. srs

http://www.sprott.com/priceperformance.aspx?id=15&t=2

[IIMaCkiNII]

You're studying finance but don't know how to invest?

I was wondering about this too. You still in the beginning of the program OP?

[mfitty9000]

financial advisor is probably best lol

personally i think i'd buy a few fixer upper properties, a nice truck, and start putting in work.

[AK1615]

I would buy land.

Can't go wrong with owning your own property. But a financial advisor would be a good idea, but just keep in mind that you would have to pay his for his advising. But then again, you are getting 1mil. Just don't spend it all in one place...Like Vegas.

[MaximusPlatypus]

You're studying finance but don't know how to invest?

Well, I havent even declared finance as my major yet. I'm just now starting my 3rd year. Also considering Econ, or HR with finance minor, etc etc

I have a decent knowledge of investing... but 0 real world experience.

This is real life, and leaning on untested knowledge is scary

[gixxer0.6g]

Man, what a problem to have. I don't think I could sleep at night.









I'm so jelly it's giving me the shi+s. Could be the coffee but I'm sure you didn't help.

[uRage]

im jelly bro

[buckeyenutz]

I'm pretty sure if your dad is savvy enough to have $10M+ of shares in a company, he's not going to "give you" $500k - $1M.

brb, paying taxes.

[MaximusPlatypus]

Man, what a problem to have. I don't think I could sleep at night.









I'm so jelly.

I know, I'll never take it for granted. My main motivation for multiplying my $ is to help ppl I feel are deserving

whether by employing them or giving them a kickstart in whatever way I can