Home    Subscribe    Write for Us    FAQ    Contact    HubGarden    Login

If you suddenly received a large inheritance, what would you do with it?

by Finy (follow)
For more recipes by Finy, check out my website: www.finysfood.blogspot.com.au/
Money (149)      Holiday (90)      Inheritance (5)      Investment (3)     

Photo: Wikimedia Commons

If you unexpectedly received quite a large inheritance, what would you do?

Would you go on working, would you invest all the money, go on a holiday, or what?

I like this Question - 44
Ask and answer questions for a share of ad revenue - click here
[ Submit an Answer ]
Top Answers
As I am a self funded retiree, I would give most of it to my remaining son, and my widowed daughter in law, so that they could have a better life without the worries of money.

The balance I would probably keep till I wanted to go on a holiday though currently due to having a sick dog, I do not know when this will be, as am happy at home.

I would possibly give some to animal charities as well as Save the Children, who I volunteer for.
by Finy
nice one :)
by jonaja
I would help my son who took over the mortgage when I became too ill to work any more.I would invest some and also donate to my favourite charities,I would not worry about travelling as I am now settled into a lifestyle which suits my personal medical situation,and my Fur Babies need me to be here anyway!!! I could NEVER put them in a Kennel,no matter how brilliant it is,just so I could go away!I love my dogs like children.They are part of my family and deserve better than toi just be pushed aside .
I would invest and buy a house of my own.
by Vee
Sell the one bedroom house I have.

Buy something with two bedrooms so my son can then have a bedroom, instead of sleeping for the last 8 years, in my lounge room!
I'd spend some on my house, probably get a rainwater tank, some garden stuff and maybe build another room downstairs so my kids could have a bedroom each. Then I'd probably invest some and donate some to cancer research.
nice :)
by jonaja
I would invest and give money to charity
I think that receiving a large inheritance would make me reflect on what is truly important to me. I would give up my day job and pursue my creative dreams of further developing my writing, both non-fiction and fiction; and my art/jewellery.

I would invest a great deal of the money and have at least two funds:
1. this would be money set aside to grow where a portion of the dividends are provided to a charity or community business that speaks to my heart - something like 'Together We Can' for children who are the victims of domestic violence to have a chance a doing things are kids may take for granted, and animal/nature foundations. The idea would be to keep the foundation money in the account and allow a portion to continue to add to the capital so that the dividends continue to increase and so could my philanthropy.

2. I would invest money to provide an ongoing income for myself.

Other than that I would:
Buy myself a house if there was enough money available.

And I would find a way to give of myself to make this a better world for people, animals and nature. I think, even without a massive inheritance I live to do this to the best of my ability now. But with such an inheritance my capacity to be of service would increase with the freedom having money in the bank gives to provide me with the time I need to carry out my dreams.

Invest it.
I would divide it between a savings account/bond and use the rest as my regular income for daily life expenses so that I didn't have to work. I would use it wisely so it would last me the rest of my life rather than blow it on holidays and needless things.
Depending on the amount, I would want to mix it up, invest some, pay off some debt, take a cheap vacation.
It would depend on how much I got. If it was a lot - I would buy a house, pay off debt of family members, go on a great holiday. If it was a significant amount I would stay on holiday!
by AJ
I would invest it wisely. I hope!
I would either purchase a house or start a business.
I would invest and give money to charity
Hawaii - I want to do a big trip to Hawaii, mainly Big Island and Kawaii....
I have allowed for several Animal Charities and other favourites of my parents like The Smith Family etc in my Will seeing that's where my wealth originated. Other beneficiaries like nieces and nephews and good friends are benefiting now when I can help them out. I just have to make sure I have enough to see me out which won't be for another 30 years or so I hope.
I would ensure that part was invested to provide for me into retirement and the balance would be used to purchase houses that would be leased at no charge to an organisation I know of that supports disadvantaged women with accommodation and support during pregnancy. The aim is to preserve life.
Oh my goodness, it would be soooo good, no more scrimping and saving having been a sole parent all my life am a bit financially challenged compared to other baby boomers but I am not complaining, make the most of what I have. Would love a good holiday first.....
by Fran
I would look after my Mum, she is all I have left for family now and I am once again single. I would make sure her house, which is run down now since Dad passed away, was done up and comfortable as she liked it. As I was made redundant from work early last year, hopefully there would be some left over for me.
If it's large enough, guess I'd need much more than a moment to decide how I'd divide it amidst my financial commitments, pay some part back to my parents or renovate our family home in India. Then put some aside for helping friends in need and make a portion usable to charitable works.

If such a miracle occurs, it still wouldn't stop me from working - that must continue to keep my mind and body active. I will still indulge in vacation and similar activities that I and my partner try to take once in a while.

Another item to consider is worthy investments!
I would ensure both my children had a paid up roof over theri heads and their children received a suitable education.
I would love this to come true so badly!
I would save the majority of it and my partner would continue working as I am a stay at home mum.
We would probably do up our house as it's 60 years old and give it a more modern look.
Be incredibly grateful that someone had thought enough of my contribution to their life that they would bestow such an unexpected gift on me.
Then i would have to think about it.
Few years ago a lady I worked for, left some money to me when she passed away, it was a very nice surprise, not a huge amount, but enough to move to another State and start a new life and survive 6 months until I got the job I wanted. If in the future, I'm that lucky, that this happen again and is a big amount of money I could invest in a house to live in and another to rent out and save it, so when I need to retire I will have enough to live independently, with my Super I will have enough just for a year ... if!!!! Now, if is more $$, I will help out my family and friends first, make some business to keep me busy and help my daughter with her dream of create an animal shelter!!! ;) Gabby ♥
Buy a neat little place in the area I now currently live, ensure all our debts are dealt with, invest some for both our girls and ensure I can retire and work for choice. Establish a number of education scholarships for girls from Cambodia. Oh and buy a sewing machine as that's something I've been promising myself for a long time.
Give thanks to God
by Gia
I bought my house and renovated it with I inherited money. It wasn't what you'd call a huge amount but it has changed our lives in many ways.
I would build the house that my husband is sitting here designing right now as I type. We are actually going to look at land tomorrow but the house is still a couple of years off unless a miracle happens (and believe me, I never rule out a miracle).
I'd set my kids up with a home, and get out of the city and onto a rural property, with a granny flat for my Mum. After that, perhaps a family holiday, a donation to a charity and a big party to celebrate!

Would probably still do some kind of work, just to stay in touch with people and the real world! Maybe some volunteering .....
Invest in a home to retire as I rent and if some is left over put it in my Super and pay my credit cards
Would help the offspring with housing (with solar)
and depending on the amount, would very much like to buy a property where full time carers could have a short break from their 24 hour mostly exhausting work. Some left? animal shelter and wildlife rescuers.
Put it on the short-term money market for awhile! In meantime, would think about what I'd do with it!

My 'wish list' would be to buy some land & build my 'dream' house upon it.

The I'd go on a First Class trip, with same type accommodation & tours, to every destination I stil want to see!

Then buy a new car, preferably a Nissan Skyline GT-R!

I'd have the option to buy TWO seats at the Theatre, so I don't have to put up with 'armrest nazi', which I have to do now too many times!

And heaven would be paying-off CC's & being able to pay cash!

It's nice to dream!
look for secure investments.
Honestly, the first thing I would do is go to the dentist. I work for minimum wage and I have been
Given an estimate of $50000 to extract my damaged teeth and replace with bridges. I have an inherited problem with thin enamel and dentsl care is way out of my price range.
1. Pay off the mortgage and fix all the things that are falling apart. 2.Give to a specific project for one of my favourite causes. (Eg build a school or a well or a hospital or a motel for the homeless) 3. Gift some to family and friends - they are all well off financially. I actually need a bazillion dollars to do all the things I'd like to.
depends if it where big enough but if so leave australia to live somewhere closer to the rest of the world
Depending exactly how large....

First I would buy a house, and then maybe an investment property.

Then go on a holiday to Tahiti.

Why Tahiti, Pippa? I was there one Sunday, in Nov '15. Nothing was open! It was very 'dead' boring. (Except for the very early morning markets at the wharf) Old houses everywhere that looked as if they'd fall down when you walked passed them. I bought 2 ps's for our 2 young granddaughters & stamps to post them to Au, but that's all! When I was there for a day mid year '68, everything was lovely. We went around the island in a horse & cart. It was dreamy, & we visited a museum, but it was closed for renovations in Nov '15!
by Miro
Ive recently received one. So far I've purchased some clothing for myself, numerous pairs of Nike shoes for my children and grandchildren, a couple of new handbags and jewellery for myself and family, paid a deposit on a top class European River Cruise and set aside enough to pay in full and some spending money, gifted a large sum to one of my daughters, paid out my credit card and paid expenses and holiday for myself and part of my family on an interstate holiday and the balance will go into my Super fund and if my health holds out, a holiday in Hawaii in the next 18 months.
if it where enough use it to fund leaving the country and travel indefinitely.
I would pass it on.
Finally be able to live without fear. Living on disability is no easy endeavor.

I would love to take the 106 night cruise, I've had my eye on for a while, & pay off 1/2 our daughter's partner's mortgage, so they can move house & suburb if they wish too. We would also buy a house or an apartment in Melbourne to be closer to our daughters & grand-daughters. I don't think they'd be any money left over, after all of the above, but should there be, we'd buy some more shares.
by Miro
Maybe I would buy a house.
More Questions by Finy
view all questions by Finy
Articles by Finy on Other Hubs
ID: 17331
Trending Questions
Health (523)
Life (383)
Parenting (216)
Beauty (142)
Food (698)
Travel (244)
Money (149)
Fitness (60)
Career (59)
Lifestyle (334)
Family (309)
Fun (277)
Children (252)
Home (187)
Shopping (184)
Personal (177)
Cooking (175)
Fashion (139)
Christmas (129)
Animals (118)
Wellbeing (113)
Kids (112)
Social (107)
Work (104)
Sleep (90)
Holiday (90)
Clothes (89)
Ethics (86)
Love (84)
Fruit (82)
Music (77)
Hobbies (76)
Body (69)
Healthy (64)
Silly (64)
Friends (64)
Advice (63)
Reading (63)
Hair (56)
Car (55)
Books (55)
School (54)
Nature (53)
Movies (53)