Inherited Money

katarina6 · 07-24-2009, 06:07 PM

Hi, this is my first post to ENA that I've started. I am the sole beneficiary to a trust. It's always been awkward, and I don't want to come off like I'm a rich woman complaining, but how would you handle inherited money? I am worried about it affecting future relationships. I don't have to work, but I want to do something where I feel I am contributing something to society. However, my situation doesn't force me to do anything career related. I think eventually it would be good to create scholarships. Perhaps if no one ever hired me I could create my own non profit.

I think what I am really asking though is do you think it would be weird for the person I was getting into a serious relationship with? So far it hasn't been an issue, but I've never had a serious enough relationship where we lived together or have been married etc. I think for some reason it's a weirder thing for people getting into a relationship with me than if I were to have a kid. I guess I hope that my partner would be cool with us using the money for something we both wanted and not feel awkward. As far as friends go, I have the means to pay for everything if we wanted to do a big trip or something but my friends have a lot of integrity and won't do that if they can't pay their share. So that's apparently not the way to use it. I'm kind of putting the money on hold right now. I am not a fan of the stock market and if I invest money I want it to be socially responsible investing which takes a lot of research and consideration. I do have a financial advisor, but his goal is more to make more money instead of mine which is to maintain. Perhaps I should also post this in relationships. Thanks for any input.

ghost69 · 07-24-2009, 06:11 PM

so are you hot?

doesn't matter now actually. lol jk

hmm, that is a good question. if you are bored, it must be a lot of money that you just don't know what to do with it. you could anonymously donate some to a charity you believe in. starting a non-profit organization is cool. takes up a lot of time and effort. financing something like that i think takes money just to start.

if it's a lot, you can buy me the minnesota vikings.

haha.

maybe just travel or buy some homes in some different parts of the world. then have friends pay their way to get there and hang out. that would be fun. try things you've never done before...backpacking through europe all the way across asia. get a crew and climb mount kilamanjaro. <<spelling might be off on that one. make a list of things you've always wanted to do and start checking them off as you do them. gotta be a lot i'm sure.

katarina6 · 07-24-2009, 06:16 PM

wow right off the bat great advice thanks! Great idea about having friends visit me in places around the world!

Honey610 · 07-24-2009, 06:17 PM

If I were you, I would invest in real estate especially now (just to build equity and get some income from that, though you probably don't need it)

In terms of volunteer/charity work, I would travel around the world and help out with different charities in Third World countries or war torn countries. You could also build a hospital in one of these places where medical care is expensive/scarce.

I guess it depends what kind of social issues you are most interested in. For example, if you have a love for animals, talk to some animal organizations and see what kind of things they would need. You could also adopt animals or children with your money. There are so many things! Google whatever strikes your interest and talk to some people who are already involved to see what is the best course of action.

Cognitive_Canine · 07-24-2009, 06:22 PM

If I were to win the lotto and win billions and billions of dollars, I'd do what I was doing right now: educating myself. Learning about languages, business, anthropology and literature mostly.

I'd also probably still continue to work even though I didn't need to. Why? To avoid dis attaching myself from society.

I'd put a lot of that money into college funds for future children.

As far as charities, I wouldn't give money to a large foundation such as red cross or any of the sorts. Rather, I'd directly invest in doctor's clinics and facilities in third world countries. I'd go to the country, ask the doctor's working there what they needed, and supply them with it.

Some of the best things you can do for people cost so little money. Cleft lip surgeries, shoes, pills to prevent intestinal worms. All of these are unbelievably cheap. The surgery is about 200 bucks per person. Meanwhile, the worms prevention drug is about 5 cents per dosage (a dosage lasts about a year). yet, so many people suffer from lacking the ability to obtain these things.

ghost69 · 07-24-2009, 06:23 PM

adopting kids is a huuuuuge responsibility i'd imagine. maybe adopt for a family wanting a child that cannot afford one?

waveseer · 07-24-2009, 06:27 PM

I think programs like Habitat for Humanity are great because the people who benefit give back in turn, paying it forward.

If I were in your position I would set up or contribute to as many of these programs as possible with the money beyond principal and inflation.

Then I would go on a perpetual surfing safari.

Siriana · 07-24-2009, 06:29 PM

I would get a job which pays that I really like.
And I would sit on the money knowing I can quit the stupid job whenever I want lol
I would give money only for animal shelters and to children without parents who didn't have the luck to be adopted.
And I would be sure to have equally rich friends who would understand my way of living and that way I would be sure to meet a bf in the same social setting.

katarina6 · 07-24-2009, 06:36 PM

Yes it is important to continue working in order not to detach from society. Also education of course! I also like your idea debaser about investigating what the people helping others really need. I have donated to the bigger orgs like doctors without borders and the red cross but now I am going to pursue what you said be more direct and start local.

ghost69 · 07-24-2009, 06:36 PM

omg, work at subway getting free sandwiches for yourself and at the end of the night and giving them to homeless people. just an idea.

there are many possibilities where you could use the money for humanity.

i'd probably give some away to a charity i believe in and do just about anything i've ever thought of doing.

07-24-2009, 06:07 PM	#1
katarina6 Offline Member Join Date: Jan 2009 Gender: Female Age: 30 Posts: 30	Inherited Money Hi, this is my first post to ENA that I've started. I am the sole beneficiary to a trust. It's always been awkward, and I don't want to come off like I'm a rich woman complaining, but how would you handle inherited money? I am worried about it affecting future relationships. I don't have to work, but I want to do something where I feel I am contributing something to society. However, my situation doesn't force me to do anything career related. I think eventually it would be good to create scholarships. Perhaps if no one ever hired me I could create my own non profit. I think what I am really asking though is do you think it would be weird for the person I was getting into a serious relationship with? So far it hasn't been an issue, but I've never had a serious enough relationship where we lived together or have been married etc. I think for some reason it's a weirder thing for people getting into a relationship with me than if I were to have a kid. I guess I hope that my partner would be cool with us using the money for something we both wanted and not feel awkward. As far as friends go, I have the means to pay for everything if we wanted to do a big trip or something but my friends have a lot of integrity and won't do that if they can't pay their share. So that's apparently not the way to use it. I'm kind of putting the money on hold right now. I am not a fan of the stock market and if I invest money I want it to be socially responsible investing which takes a lot of research and consideration. I do have a financial advisor, but his goal is more to make more money instead of mine which is to maintain. Perhaps I should also post this in relationships. Thanks for any input.

07-24-2009, 06:11 PM	#2
ghost69 Offline Platinum Member Join Date: Jan 2007 Location: Desert Gender: Male Posts: 33,424	so are you hot? doesn't matter now actually. lol jk hmm, that is a good question. if you are bored, it must be a lot of money that you just don't know what to do with it. you could anonymously donate some to a charity you believe in. starting a non-profit organization is cool. takes up a lot of time and effort. financing something like that i think takes money just to start. if it's a lot, you can buy me the minnesota vikings. haha. maybe just travel or buy some homes in some different parts of the world. then have friends pay their way to get there and hang out. that would be fun. try things you've never done before...backpacking through europe all the way across asia. get a crew and climb mount kilamanjaro. <<spelling might be off on that one. make a list of things you've always wanted to do and start checking them off as you do them. gotta be a lot i'm sure. __________________ Not only am I friendly, but I'm invisible too. Too perfect of a relationship is too weird-g69 If you say you are normal, I'd think you are weird-g69 The world can only get better, it depends on how you look at it-g69 'As wicked as you are, you're beautiful to me'-5fingerdeathpunch you cannot control the world, you can only live in it the best you can for you-g69 NooOoOoooOOoOoOoooooo

07-24-2009, 06:23 PM	#6
ghost69 Offline Platinum Member Join Date: Jan 2007 Location: Desert Gender: Male Posts: 33,424	adopting kids is a huuuuuge responsibility i'd imagine. maybe adopt for a family wanting a child that cannot afford one? __________________ Not only am I friendly, but I'm invisible too. Too perfect of a relationship is too weird-g69 If you say you are normal, I'd think you are weird-g69 The world can only get better, it depends on how you look at it-g69 'As wicked as you are, you're beautiful to me'-5fingerdeathpunch you cannot control the world, you can only live in it the best you can for you-g69 NooOoOoooOOoOoOoooooo

07-24-2009, 06:27 PM	#7
waveseer Offline Platinum Member Join Date: Oct 2008 Location: In a world full of possibilities. Gender: Female Age: 46 Posts: 11,062	I think programs like Habitat for Humanity are great because the people who benefit give back in turn, paying it forward. If I were in your position I would set up or contribute to as many of these programs as possible with the money beyond principal and inflation. Then I would go on a perpetual surfing safari. __________________ Whoever dies with the most "happy" wins! ~ shuttlefish profile pic explained: http://www.youtube.com/watch?v=xl6yXBnLYYM and more: http://www.youtube.com/watch?v=CKnw9TM_AAI and if you weren't convinced: http://www.youtube.com/watch?v=S3fPtMuBtMs and if you're not sick yet: http://www.youtube.com/watch?v=jTvUT_Hx4Dc to accept your partner: http://www.youtube.com/watch?v=zgP57lJvWRw

07-24-2009, 06:29 PM	#8
Siriana Offline Platinum Member Join Date: Mar 2006 Location: Europe Gender: Female Age: 29 Posts: 3,769	I would get a job which pays that I really like. And I would sit on the money knowing I can quit the stupid job whenever I want lol I would give money only for animal shelters and to children without parents who didn't have the luck to be adopted. And I would be sure to have equally rich friends who would understand my way of living and that way I would be sure to meet a bf in the same social setting. __________________ Quid pro quo "Don't have any children or get married until you can support and love yourself first."

07-24-2009, 06:16 PM	#3
katarina6 Offline Member Join Date: Jan 2009 Gender: Female Age: 30 Posts: 30	wow right off the bat great advice thanks! Great idea about having friends visit me in places around the world!

07-24-2009, 06:17 PM	#4
Honey610 Offline Bronze Member Join Date: Apr 2009 Location: Never Never Land Gender: Female Posts: 212	If I were you, I would invest in real estate especially now (just to build equity and get some income from that, though you probably don't need it) In terms of volunteer/charity work, I would travel around the world and help out with different charities in Third World countries or war torn countries. You could also build a hospital in one of these places where medical care is expensive/scarce. I guess it depends what kind of social issues you are most interested in. For example, if you have a love for animals, talk to some animal organizations and see what kind of things they would need. You could also adopt animals or children with your money. There are so many things! Google whatever strikes your interest and talk to some people who are already involved to see what is the best course of action.

07-24-2009, 06:22 PM	#5
Cognitive_Canine Online Platinum Member Join Date: Jul 2007 Location: Somewhere over the rainbow Gender: Female Posts: 11,326	If I were to win the lotto and win billions and billions of dollars, I'd do what I was doing right now: educating myself. Learning about languages, business, anthropology and literature mostly. I'd also probably still continue to work even though I didn't need to. Why? To avoid dis attaching myself from society. I'd put a lot of that money into college funds for future children. As far as charities, I wouldn't give money to a large foundation such as red cross or any of the sorts. Rather, I'd directly invest in doctor's clinics and facilities in third world countries. I'd go to the country, ask the doctor's working there what they needed, and supply them with it. Some of the best things you can do for people cost so little money. Cleft lip surgeries, shoes, pills to prevent intestinal worms. All of these are unbelievably cheap. The surgery is about 200 bucks per person. Meanwhile, the worms prevention drug is about 5 cents per dosage (a dosage lasts about a year). yet, so many people suffer from lacking the ability to obtain these things.

07-24-2009, 06:36 PM	#9
katarina6 Offline Member Join Date: Jan 2009 Gender: Female Age: 30 Posts: 30	Yes it is important to continue working in order not to detach from society. Also education of course! I also like your idea debaser about investigating what the people helping others really need. I have donated to the bigger orgs like doctors without borders and the red cross but now I am going to pursue what you said be more direct and start local.