A bloke who has been “poor” for his “whole life” has landed himself an eight-figure inheritance that has left him “terrified.”
The unnamed beneficiary of the life-changing sum admitted he’s “impulsive” and scared of “screwing this up.”
He compared it to a “Mr Deeds” situation making the similarity between the Adam Sandler film of the same name. The comedy movie tells the story of a pizzeria owner who learns he is the heir of a late multi-billionaire.
In a thread on a Money group on Reddit, which has over 582k members, the lucky user wrote a post captioned: “I’m inheriting a LARGE amount of money.” The post read: “Kind of a Mr Deeds situation but I’m no saint. Been poor my whole life.
(Image: Getty Images)
“I’m coming into a very large inheritance, like 8 figures. What do I do with this to set myself up and my family for future generations? I don’t want to f**k it up or worse end up dead 30 days after because I’m impulsive and like to have fun if you know what I mean.
“On one side I’m so happy but on the other I’m f*****g terrified of screwing this up.”
He added: “Some of you will probably think ‘how do you f**k that up?’ Easy, and I bet I could do it. Don’t want to though.
“My first start would be an advisor I guess? Please help.”
Comments came in thick and fast, with many cracking jokes and others offering genuine advice.
One user wrote: “Find a fee only financial advisor. Have him set you an allowance.”
“Hello…long lost cousin,” said another.
A third wrote: “Nobody here doubts your ability to squander a great deal of money or to harm yourself in the process.
“Start with a few simple steps: 1- Don’t tell anybody about your money. 2- Learn about some safe investments (ETFs, dividends). 3- Park your money in a safe investment and pay yourself an allowance.
“As a potential example, if you have $50 million in assets, you can expect a safe (ish) return of say 4%. That’s 2 million per year (approximately). So pay yourself that, perhaps in monthly installments, and enjoy your QoL increase. 2 million will comfortably afford a nice home, a nice car, any hobby you wish, and paid help around the house.
“Over the long term, look for rich people opportunities such as venture capitalism, philanthropy, etc.”
While one added: “You can pay me a 100k salary and I’ll be the guard rails to your decision making. It’s important to know I have no background of this but have a strong work ethic. Let me know pal. Enjoy your wealth. Best of luck.”
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