We Inherited $7,200,000; What Do We Do?
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- เผยแพร่เมื่อ 18 ก.ย. 2024
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Money reveals who you are. More money just reveals more.
Yes like I say money amplifies your problems if u never dealt with your emotional issues 7 mill and I can't get floors lol he's about to get divorced and only have 3 like he wanted
👏🏼👏🏼👏🏼💯💯💯
The husband has low self worth. He needs to get professional help.
$7M even just earning 5% a year is $350k every single year. This dude needs to wake up and face their new reality. Let your wife “spoil” herself a little with some nicer flooring in the house lol come on man
Where do you get 5% a year? With what?
@batman6540 average returns are more than 5%, though there are dividend stocks that pay this.
Hell current HSAs pay this right now.
Even 3% dividend stocks would pay over 200k a year not including your day job.
@@batman6540 you’re kidding right? Even a savings account gives you about 5% these days
Some people just cant f*cking lose
theres an easy fix to this solution. they should put their money is a savings account to make 360k a year, and using the savings you can try making a small business just for the fuck of it. thats what i would cus i think id get bored doin no job
My aunt passed away, and I inherited part of her portfolio and cash savings. I'm 28 years old, I’ve been told to invest in stocks. what are excellent long-term investments? how can I grow this $800k
Lucky you, I’d buy a lot of tech stocks and Dividend portfolios with that. If you don't have experience, you could consult with a broker
Same, I just use TH-cam for research purposes, I run all my major investment through an investment adviser, the market is just too unstable to handle things on your own. I have consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains in close to decade of having one
Could you recommend who it is you work with?
*Victoria Louisa Saylor* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I’ve just looked up her full name on my browser and found her webpage, very much appreciate this
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65. How best do I maximize my savings of over $500k
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Many people often underestimate the effectiveness of a financial adviser in planning for retirement. Over the past 10 years, my Adviser has consistently restructured and diversified my portfolio and expenses, resulting in over $3 million in gains. While it might not seem like a huge amount, retirement now feels within reach.
Tried doing things on my own at first, failed abysmally at it,tried following a colleague's retirement planning, same result. Now, I need that professional rescue. Please direct me on how to reach a sound CFA
There is a handful of xperts in the field. I've experimented with a few over the past years, but I settled for ‘'KATHLEEN CHERYL CONSTANTZ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
KATHLEEN CHERYL CONSTANTZ is who I work with. Have worked with her for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Don't put laminate floors in your new house.
Having 8 million and cheaping out on your new construction is actual insanity
What did laminate floors do?
@@unbothered6357 bubble at the slightest hint of water
@@Cloth_GlovesI got waterproof vinyl. Seems decent.
I’d tile the whole house
I understand why he’d feel that way but don’t think all men are wired the same. If my wife got handed $7M I’d quit my job tomorrow and enjoy life.
💯! 😄
Absolutely! I think I would find some “work” to do to give my days some purpose.
😂
Sugamama time!! 😂😂
And u probably let her buy floors lol this dude is about to get divorced cus of his emotional issues
My dude is upset that he's losing the thing that he felt gave him control over the relationship. George is on point
Geez money drops in his lap and still has problems with it. What a dope.
The husband already built up a million dollars while she has been a home maker. He went from provider-protector, to insignificant. It's a real problem, unless you're an adrift loser.
Yeah if you’re smart enough you can foresee once she gains total control over what they do cause she has the money she will see him as less and divorce. It’s not just him he knows what’s coming.
that could be it sir
It's not about control, a man just wants to feel appreciated for his hard work a man wants to feel needed, it's hard if she's a multi millionaire... I'd dump her
If you are worried about 8 million dollars not being enough to retire you really need do a self assessment.
@@dannywilson850 dude has emotional issues
Nothing to do with that. She’s basically in control now and you can hear it.
When hyper-inflation hits the USA it won't even buy a car.
@@chucktalor716 He dose'nt know a blessing when he has it.
You know that’s not what his problem is.
I love the grounded reality of this channel!!!
Retirement took a toll on my finances, but with my involvement in the digital market, $47,000 weekly returns has been life changing. AWESOME GOD❤️
Massive! Been trying to trade on my own for a while now, but it isn't going well. few months ago I lost about $8,500 in the trade. Can you please at least advise me on what to do?
@@DivocklindsayMaria Angelina Alexander I really appreciate her efforts and transparency.
Giving her my initial savings of $12,000 to invest in a brokerage account was a turning point in my life. It's been an incredibly rewarding experience and the best decision I ever made!
This is a definition of God's unending provisions for his people. God remains faithful to his words. I receive this for my household.🙏
One key to successful investing is acknowledging that ups and downs are part of the journey. No investment is guaranteed to succeed all the time; instead, it’s about managing risk and capitalizing on opportunities. The goal is to achieve a higher rate of return than the losses incurred, which often means maintaining a long-term perspective and not being swayed by short-term fluctuations.
With that amount, I'll retire to another country outside the US that is free, safe and very cheap with a high quality of life. Even without having that much, i still plan on doing thesame. I could fully just rely on only my SS if I wanted to when that times arrives but I'll also have at least one pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Retiring comfortably in the US these days is almost impossible.
I'm headed to Thailand or the Philippines in 4 years.What country you moving too?
I know this FA, Abby Joseph Cohen Services but only by her reputation at Goldman Sachs; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since I watched her interview on WSJ last month
@@DennisSoklovI have a sister in Sri Lanka, should be easy for me to settle in
@@MerissabadeI'm not surprised. Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Abby Joseph Cohen Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
Step 1 - Find this guy the best therapist money can buy.
Yes, that’s Jesus.
But you can’t buy Him 😊
lol that’s not legally his money. It’s her inheritance not communal money. We can start there.
I had the same thought- this is her sole and separate property until she co-mingles it. Very interesting and sad to see this being a hardship for them
The inheritance is hers UNLESS it's already been put into a joint investment account. That is an incredibly important decision that people often make without much thought. Putting your spouse's name on the account effectively gives them half ownership payable if you divorce.
She could divorce him tomorrow, keep the $7M, demand half of the assets they accumulated during marriage, and, just for laughs, be entitled to alimony and spousal support.
Make sure you keep this money your sole and separate property. He is controlling. He used to be able to control you and used money goals and work to keep you busy. Now YOU are free. You could have absolute independence from him if you want and he is spinning over that possibility. My father was very similar to this. While I am ultimately grateful for his frugal efforts, I often thought he loved his money more than any of us. If I had to guess, I’d say in his mind, it’s a rope that binds you together. The rope has been severed. If he isn’t thinking rationally seek medical intervention. I didn’t catch how old you are, but early onset dementia is real. Wish I didn’t experience the brunt of it, but it made everything else 10x worse for my dad’s fixation on money. Your situation sounds very similar to mine. (Except the 7M part 😂)
@@tdaveniii She could ask for anything but I doubt you'll find many judges who would award it based solely on the income generated by the investments being a lot more than he makes. Also, it varies by state, but they can also "consider" the inheritance when dividing assets to make it NOT work out to 50/50 on marital assets. I just went through this. It should be mandatory to learn this stuff BEFORE marriage instead of when you're heading to divorce court.
Step one:tell the entire country.
😅
😂😂😂
And brag about it 😅
Step none 😂
😂 She hasn't told her name so they're still safe.
In the 50's my late dad worked a modest job, mom was a housewife, and they lived a nice lifestyle including owning a home. Nowadays both I and my partner works and can barely afford to make ends meet. Luckily, I've just received an inheritance of $500,000 and concerned how to use money I didn’t work for. Should I pay mortgage since I’m still working, or do I invest in stocks rather than just staying 100% cash?
You should do a mix of both. Seek the help of a financial advisor and a real estate broker. Use $100k to get yourself a decent rental property, may need a mortgage but keep the cost of the property low, and put the rest into stocks.
Well agreed, investing with the help of an advisor did the trick for me in less than 5 years, retired with couple millions before 55. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually, enough to get me fully invested.
@@heatherholdings bravo! retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your advisor can be of help?
Can't divulge much here, I take guidance from a Pennsylvania-based advisor 'Karen Lynne Chess' and most likely, the internet is where to find her basic info, simply do your research.
glad to have stumbled upon this, curiously inputted Karen Lynne Chess on the web, easily spotted her consulting page and was able to schedule a call session. Ive seen commentary about advisers but not this phenomenal
Inheritance is not community property. She needs to keep it separate from their money as a married couple. He has no say in how she spends her inheritance.
How convenient for the woman lmao
It becomes community property once it is co-mingled with joint money. So, for this lady, it is already too late. She has already combined it in financial accounts and the new house. The husbands need for therapy is high.
But if you have a good marriage, you share it together, it's not a problem. This is why so much money could ruin their relationship. He's got some ultra miserly issues.
That's an antagonistic way to view marriage.
@@terpenator93
Same result if the husband had inherited the 7 million. It's about law, not sex.
She’s in an abusive relationship and doesn’t know it. He’s trying to control her with the way he acts.
This marriage is going to be rough. Like Dave has said, getting lots of money just reveals more of what is going on inside of you. This dysfunction was already there, and now it's just being revealed at a massive scale.
We see it here clearly
Imagine being "scared" of the consequences of inheriting $7 million. Give me a break.
You clearly lack the mental capability to fully understand what that does to ones life. You are one google search away from getting an impression what it means to be "rich" overnight and I find it hard to believe that you are that level of ignorant to never even have heard about that. Your comment is clearly a very lame attempt of trolling and ragebait farming.
It's being scared of losing her and her taking the money with her.
I’d love to be “scared” by $7 mil. Lol
The guy has issues. With some good advice/help he can sort it out, relax, and smell the roses.
What a legacy! He truly cared and loved his family to leave his family that money.
Legacy truly is a life well accomplished. Well done sir!!
Legacy is not in the number of zeros you leave, it’s not leaving it to zeros
It’s a whole lot scarier when you have no money. If it scares them that much, give it to me!
I would tell no one. But there would be signs. Like a 5 year old car instead of my 20 year old one.
So real
He’s not anxious. He resents her. He’s been working hard to save a million dollars and his wife, who stays at home, just got $7 million out of thin air doing nothing at all.
Easy answer...retire (unless you love your job and want to keep doing it) and enjoy the rest of your lives together. I say that as someone who is in a similar situation.
Even if you only take out 3-4% of $7.2 million a year, you'll be very comfortable, will never run out of money, and can afford to be generous to others, which is really fun. If it's not an easy answer, either you're with the wrong person, or you need therapy.
This mindset is more stressful than living broke. Had a great friend who ended her marriage after like 8 years her husband was a miserable person.
Asked a friend who inherited millions. Whats it like being a multi millionaire? His reply. Money aint everything. Asked meaning? He said money just pays the bills. Will never forget that
I’m a lottery winner and looking for long term investments that can fetch millions. If you had $250k, which one would you go for in terms of maximizing possible returns and mitigating risks
Consider growth stocks... in the world of investing, they are the ferraris, however you can maximize and avoid terrible mistakes by working with someone of great expertise
The issue is most people have the “I want to do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 330% since covid-outbreak to date, summing up nearly $1m.
very encouraging for folks starting out like myself, please who is your advisor if you don't mind me asking?
I’ve stuck with ‘’Glen Howard Chester for years now, and his performance has been consistently impressive. He’s quite known in his field, you can confirm him on the internet.
very much appreciate this.. was able to look up Glen by his full name and at once found his consulting page, he seems impeccable!
Wow, thats a HUGE problem if your STILL stressed financially with over 8 milllion in total in your possession. 8 million! Not 8 hundred
Well done to her father for leaving an abundant of wealth to his daughter before passing away! Amen!
um... honey its YOUR inheritance... get the tiles ; get the countertops !
Wrong. That's THEIR inheritance
Exactly
@@dabiz4272 Wrong.
@@dabiz4272 No, it's hers. He didn't inherit anything.
This is EXACTLY why men shouldn’t get married, I hope some men see this 😅
Dude is crazy 7 million is perfect. It makes 10% a year. Then take out 5% that’s living off 350k debt free
It's not so obvious. The woman now instantly became the provider forever, permanently undermining his role as a man, it's cutting off his b@ll$
@@NickAndTech🙄
I am reminded of something Dave said once.
"Money is just a magnifier for what's already there, if you're stupid you'll be stupid on steroids, if you're generous you'll be generous on steroids" (Or something like that).
Guy has some underlying issue that needs to be dealt with so he can be at peace about this money and his future.
They both probably also need to buy brand new cars, and do some fun stuff with this money.
Valid passport,good lawyer,good tax accountant.
good marriage counselor like pastor>
@@lionheart93 Yes..and at the end they said ..your marriage is over not that you’re separated..that now without financial burden..you can have a new life together going forward..and yup,a 5 percent growth is $350k ..so you have an opportunity to not only take care of yourselves and family but leave a legacy for your descendants.
7.2 million would be easy.
Work and do what you want... retire whenever you want.... enjoy life.
But still be mindful of your spending. It's 7 million, not billion. Lottery winners go broke every day.
@@gailhoover9263 of course but as the guys explained if you did nothing with your money besides foolishly let it sit in a savings account, you're earning $350,000 on the principal. It would be so easy to live on 7.2 conservatively invested and live off the interest.
@@gailhoover9263 Yeah of course but lottery winners are usually people who are terrible with money. Unless you literally went out gambling all of that money away there is no way you could run out of money with $7 million in investment accounts invested in safe investments unless the entire economy collapsed. That plus their million they saved on their own they could take out $250K a year and not even touch the principal. You'd have to be ridiculously irresponsible to mess this up and people who saved up a mil on their own are almost surely not. They could EASILY and I mean EASILY retire anywhere in the country and live comfortably. They could retire somewhere with a low cost of living and live like freaking royalty and not even touch the principal.
@@gailhoover9263That’s true but people that had the ability and discipline to get $1 million in net worth at a pretty young age are probably not going to go broke with this money
I am 22 years old, lost my dad about half a year ago and I am going to receive $550k+ soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?
I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
Agreed, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me achieve my early retirement goal.
@@chadgriffith1969 How can one fine a verifiable financial planner? i would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my uch larger portfolio. Don't want to take chances.
My financial planner is Annette Louise Connors, experienced advanced lady and consults formanly brokerages hence is independent and can be a fiduciary to you.
very much appreciated, just copied and pasted Annette Louise Connors on the web, easily spotted her consulting page and was able to schedule a call session. Ive seen commentary about advisers but not this phenomenal
My grandma was fortunate to inherit a good sum of money from her stepmother's family years ago and she and my grandpa invested it wisely and we're both very frugal, had five kids and lived and worked, not sure of the dollar amount their estate came to but it was a blessing and a excellent lesson in saving
If the goal is not to enjoy life sure.
@@JudePi-jx7yo ehh I think they had pretty good lives, both died in the comfort of their family and their own beds 88 and 95 years
I'm surprised they didn't digress for a minute to ask what Dad did so very right that he was able to pass down $7M, cuz homeboy was on the ball!
Owning a business and income producing real estate
yeah, especially when his own daughter didn't have an idea she will inherit 7M
@@Aristaiflyoh so it was her dad?
Good point. I would have liked to know that too. I suspect, however, given that the daughter was surprised to the upside by a factor of two, Dad was likely just a working stiff who socked away money each month for 50 years and lived relatively modestly. The money grew and grew and he kept living modestly. Real estate in that part of the country is worth a pretty penny too. Maybe he owned some land with an ocean view.
He thinks she is going to leave him. Pop culture glorifies women, leaving their man the second they have a better option. He doesn't see how he can compete with 7 million.
not just pop culture
I think you may be right.
You’re aren’t taking into consideration that they are married, THEY have 7 million, not her.
@@stevenno91 inheritance is hers no?
It was HER dad, therefore, it's HER money, to do exactly what she wants with it..that's EXACTLY what I would tell MY wife, if the same ever happened in our household! This guy's obviously ecinomically-illiterate, a raging control-freak, or malignantly insecure..probably, ALL THREE!
I came across your channel through this video-
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You're correct. I think the smartest way to go is
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That sounds like a good plan. In the past two
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Talking about a financial market specialist, do
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I operate a wide- range of Investments
with help from My Financial Adviser. My advice
is to get a professional who will help you, plan
and enhance your management skills. For the
record, working with Martha Ann Hammerton,
has been an amazing experience.
Wow. I'm a bit perplexed seeing her been mentioned
here also Didn't know she has been good to so many
people too this is wonderful, I'm in my fifth trade with
her and it has been super.
The husband has issues. He's worried about upgrades to the house.
He understands that if you spend 3% ($210,000) in upgrades, that's hardly anything.
Check your math
The dude has done the hard thing. He's done leg day 6 days a week, something regular people would never do and it isn't even advised. It is time to hit those glamour muscles baby. Hit the bicep curls, hit the triceps extensions, bench press for God sake! He has caused the family to scrimp and save, something regular people do not do, to the detriment and jeopardization of his relationships. Time to enjoy it.
“She” inherited 7M. “She” needs to enjoy it and be happy. Most ppl never enjoy this freedom. If “He” loves “Her”, “He” will support and cheer “Her” in every aspect!💯
Type-Shit scenario. Nvidia or apple which is a better investment now? just got my lump sum inheritance and would love to put my money to work, so i can earn in dividends, i'm also looking at paying mortgage where rates are not so high.
Both are crap for dividends.
Nvidia is more valuable than Apple as of now, though many people perceive it to be a bubble
I’m currently working towards financial freedom with a focus on dividends & growth investing. Since 2014, I’ve built a portfolio made up of 30% NVDA, 25% SCHD, 15% VOO and over 30% in digital assets, thanks to my financial advisor. This strategy has helped me earn $46,000 a year in dividends. Back in 2014, I only earned $21 in dividends.
@@AddilynTuffin Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
I work with the popular Victoria Louisa Saylor , Who happens to be a is a hot topic among financial elitist in The US. Especially for her works during Covid. All the information you need to set up an appointment is on her web page.
NEVER commingle your inheritance. It’s NOT marital or community property. It was money bequeathed to you to do as you wish.
It is biblically. Why be married if and when you come into a windfall you totally ignore and not abide by the very definition of marriage,
You're correct
It’s not marital property unless the beneficiary CHOOSES to do so by sharing it, putting it in a joint account or paying marital bills. Spouse’s aren’t legally entitled to an inheritance just because you’re married.
I think in order to keep it out of the joint account, the father would have needed to put the money in a trust for the daughter.
Not true. The spouse needs to put the inheritance in any type of account that’s only in her name. When a spouse puts an inheritance into a joint account or uses it to pay marital bills, it becomes marital property that will be part of the divorce assets. By keeping it in an account under your name, it remains yours in the event of a divorce.
Si this woman can’t even enjoy the money that HER father left her because her husband can’t grow balls and is scared like a little child. Please! Poor woman, rich as hell but poor in her own household. Bless you, hope you’ll find a way to enjoy this peace of mind and be generous!
Probably some resentment, scrimped and saved for years, lived like no one else and all of a sudden it was all for nothing since his hard work really doesn't amount to anything significant compared to this giant sum of cash that just fell from the sky. Like what was the point of that diligence when he can no longer take pride in that accomplishment?
Interesting take. There is a real danger in over saving for sure. The dad is the villain here. He clearly wasted his life scriming and saving. Unless it was $10k in 2010 Nvidia stock or something. He never told his daugther or let her enjoy the money when he was alive to see it. Imagine a family cruise with the baby. Or a once in a lifetime honeymoon in Bali etc. Instead like her husband he squirreled it all away. Almost everyone who is a natural saver ends up not enjoying the fruits of their labor. Maybe the tempoarily converted by Ramsay advice are the luckiest ones though I doubt they revert either.
The point of the diligence was that it taught him the proper character to now be able to manage a sum of money like this responsibly. However, it sounds like for whatever reason he is not emotionally able to understand that.
Glad I dodged that bullet. My wife will not be inheriting 7 million.
60K isn't even 1% of 7.2M!
Let the lady get the house that she wants as long all the money does not get busted through.
There is enough money to have what you always wanted and then some!! A lot of some!!
Her husband needs professional help to deal with his emotions
I think he probably has tied his value to being a provider and hopeful savior. He works and works trying to help his family not be where mostly likely he grew up, poor.
His wife literally can snap her fingers and solve this. He is having an internal crisis, maybe some counseling will help! His wife can 100% spend 60k on the things for the home.
Maybe show him, invested what it provides. You won’t even touch the golden goose as Dave would say. Enjoy your lives! Her father truly was an amazing man!
I was so caught up in my own financial bubble until I started listening to Ramsey, and realizing all of the amazing and crazy financial stories out there, like this one, I'm still surprised!
My dad is like this, its from the way you grow up mixed with a very anxious/stressful personality. People like this are very irrational, its like a massive mental block. Also they are very controlling people. Hard to get this person to change.
Good insight. Thanks for sharing. Very tough.
Same experience and dementia brought it to a whole new level.
My dad was an orphan, came from nothing and he did have this mindset for years even after fully paying off the mortgage on a 2.5m USD house.
Eventually he came around and started loosening up though. There is a shock aspect to this story, and a shift of narrative that people have to go through mentally whether quick or slowly and my guess is eventually he will deal with it. Its a good problem to have ultimately!
Set aside 6 mil, then use 1 mil for things you ABSOLUTELY need. Dont lend money out. Double and triple vet your advisers. Diversify!
It’s underestimated just how huge of a stressor and massive disruption a giant inheritance can be. It can wreak havoc in a marriage when a man loses his role as provider overnight. At that point, the man needs to find brand new sources of pride and the woman needs to carefully reexamine the virtues of her husband, because even if he has been a solid responsible provider, he is no longer needed for that role ever again.
It's your dad's money. He would want you to spend this money how you wish. Not how your tight husband sees the world. Your dad would be devastated. He would want his daughter to be happy and comfortable.
My mum (still alive) gave me a little money recently. She's like... it's yours to use as you wish. Even if you get a car or whatever it is that makes your life better. That's all she wanted. To make my life better.
Good on your mom. I wonder why so many parents don't share their wealth while still alive. That would be a great call-in. "I'm rich and would like to share some of it while I'll still alive and kicking, but I can't bring myself to do it. What should I do, John?"
A lot of people are making the guy out to have more of an ego issue but I think he might be legitimately concerned about losing the money. He’s been the main provider for years and based on what the caller said, doesn’t seem that he’s had a six figure salary. It’s very possible he feels that if they start spending the money they’ll spend it all. I’ve been in that situation and despite having more than enough money it’s still hard to change your mindset when you’re so used to not having enough or just barely making it. Maybe than can put a pause in the house for a few months while he gets comfortable with the idea of having so much money and maybe go to therapy also.
I'd like to hear the husband's side
Her feelings. I feel,.I feel , I feel..No rational thought.
@@djpuplex sounds like the husband is not thinking rationally either...he needs to address his issue with money. Not even wanting to talk about house renovations is not healthy.
I'm so happy I made productive decisions about my finances that changed my life forever. I'm a single mother living in Melbourne Australia, bought my second house in August and hoping to retire next year at 43 if things keep going smoothly for me..
Congratulations dear. You're really doing well for yourself, I'm 48 and my financial life is in a mess. Any great tips would really go a long way in shaping my life. I want to buy my own house, that's really a big flex
To be honest, investing rightly today can save you a whole lot of stress in the nearest future.
Investing in many source of income that are independent of government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Good assets and digital currencies are still good investment at this time.
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The husband has a monster EGO!!! IF he didn't do it, it can't happen! By having $4-$5 million stashed away. You are free! Yes, it's fun to work super hard and say I BUILT THIS LIFE! But when something gets tossed your way, don't hate life! I see a divorce coming,! Husband will work 80-100 hours a week hating his life and his soon to be ex wife will build her life with a new husband that lives in the reality!!!
Plenty of lottery winners go bankrupt. It's certainly not unheard of for someone in this circumstances to lose it all, even if you think you've been frugal all your life. One thing lacking is defining, with the financial advisor, is what a reasonable withdrawal rate would be. Define your baseline income from this, maybe even one that maintains the principal and doesn't draw it down at all (i.e what if we put this all into a CD and lived off the interest). Develop of budget based off that. It's only been 6 months, it takes time to unclench that savings muscle.
Very well said
You need a post nup, it’s your money. Budget it the way you want it.
That's a way to get a divorce. Also inherited money isn't a martial asset so she'd keep it anyway
Yeah I would leave her too if she tried the post nup crap. I quit my job and enjoy sugamama time 😂
@@retsubkrod Nope. The only way it is "hers" is if it hasn't been co-mingled with "their" money. If she put it is a separate account from the get go, it would be hers.
Lmfao he’s not going to sign that sh*t
I don't know why y'all say it's not about the money. This is all about the money. Husband's purpose for his whole adult life was to provide for his family. That's gone now. His behavior stems from that. Not people making fun of him when he was a child. What makes this worse is the money is from father in law. And that it was unexpected.
Don’t spend the principal. Just buy U.S. treasuries or very secure investments. Live off the interest.
Imagine having money problems in your marriage.. while sitting on $8.2 million.
If I didn't have a plan for the money, I'd be afraid as well. Come up with a plan. Be sure any taxes and debts are covered, be sure a good chunk is added to retirement, and define what you can spend today. Done.
I'd say this is probably the wisest advice. Take some time, sit down, look at the finances, consider the details and move ahead. Maybe you set aside chunks of that money in some retirement plans, or college funds, or whatever. Setup a fun money fund, a house fund, etc. Make a budget based on the interest (say $250k per year, leaving $100k for savings, etc.)
You could live off the interest alone
John is right, it’s nothing to do with the money. My mother in law when she was young had no money I have now known her for 30 years. Now she’s in retirement with 100ks in the bank and she spends nothing on her self.
They didn’t consider that her now wanting higher tastes, stuff they couldn’t previously afford, is challenging his self worth of being able to provide
Would he feel like that if they won the lottery? I think it's how they got the money. Inheritance from her father.
The dude needs to get over it.
I think John mentioned it briefly but it was quickly glossed over.
Technically this is her money, so get those hardwood floors, quartz countertops and tile in the bathrooms. Just don't spend 7 million dollars on upgrades.
Stay anonymous! Be wary of new "friends."
Nope, it's a primal thing. When my maternal grandparents passed away, my dad would not touch any of the money or the vehicles left behind. The man is hard-wired to be the provider and protector, even if he's not dominant. When enough money comes to the woman, she has lost any dependence on the man, the man inherently feels like he is no longer needed.
My girlfriend's husband is like that.
You don't love someone out of need it's out of want
They must not be great in bed.
Not using money is not protecting or providing.
@@sorryyourgirllostduuude
This video is so all the people who say “YOLO, just spend it, you can’t take it with you”. Obviously, you can bless your children/grandchildren and they can be responsible with it.
You and your husband are essentially retired. Throw it into a retirement account and live off of 5%, $410,000, a year. Don’t spend more than that. Done.
If I were a betting man I would bet that he just is worried about what other people's perception of his family is. Suddenly having a high-end home rather than a mediocre home is a weird mental shift.
I'm not saying he's right but there's some justification to that emotion.
The husband needs some psychological help. End of story.
Probably an affair in the first place wherefore
It should be a couples therapy I think.
@@JohnDunlap-w8c makes sense
@@snowjae9380 I agree. Gotta grow together 💪👌
Ouch that marriage is going down the toilet. He’s losing his position and she’s basically saying I can afford it you can’t. 😂 she’s in control now.
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I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?
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I'm surprised that this name is being mentioned here, I stumbled upon one of his clients testimonies on CNBC news last week...
Really you people know Antonio Alex? I was even thinking that I'm the only one he has helped walk through the fears and falls of trading.
Here's the deal - it's her money, not marital property. She can make whatever upgrades she wants.
Yeah if she doesn't want to still be married
@@dobia4486with 7 mill, she can find another spouse 😂
@@dobia4486 Nah, no chance. He's scared about losing money he isn't going to divorce somebody worth $7.7 million. (.7 because she gets half of their $1M). He'll get over it.
Agreed, in principal. I hope she keeps that in the back of her mind. But they've been married for decades, they're in this together. What's important is that he works on his mindset from scarcity to abundance - it sounds like he toojk on frugality as a survival tool and way of successful living and HER inheriting this massive amount basically wipes out the need for that strategy and mindset - and his control. They have some work ahead of them; I hope he's willing to do it. He may be able to heal a lot of old stuff and they have a chance to get to know each other in a new and deeper way - AND enjoy the blessing of financial freedom together. I hope it works out.
That does not fix the marriage problems. They need to be on the same page and making decisions together as one.
Tell him it's your money
It sounds like she has already commingled it with marital assets as its being invested over time thru a financial advisor. If its being used to improve the house, he is now entitled to half of it. Could be a $4M mistake on her part.
No way you're married....if you are, it's doomed
Straight to an HYSA. Live off the interest.
They were at first thinking about the inheritance would be "only" 3 million and was worried about money..... I can't with some people. A lot of us inherit parent's debt instead.
I think there is another thing that hasn't been mentioned. Earning money to support the family is this man's identity. When his wife receives $7M overnight, he lost his sense of purpose / identity. His need to continue to assert control over the money is also his need to assert control over his wife, which he has lost now that he is no longer the breadwinner.
These people already had a million dollars and now they have over 8 million dollars What the hell are they worried about. If I had $100,000 dollars I would be more than happy. Also he a big baby.
Right! I’m paying off my credit card and getting new lights on my old truck. These people are nuts.
Easy for you to say. You don’t have 100k though!
*People in the comments * DIVORCE HIM!!!
Love how Deloney equates wealth with goodness.
I dated a guy who was so insecure about money that he wore the same old clothing. In his drawers were tons of new clothes, gifts from family, but he wouldn't wear them, I guess because his old clothes hadn't fallen off. Sad person.
An inheritance that one would receive from a father or mother is yours alone, and you choose how to spend it. It doesn't sound like this woman is being unreasonable, but her husband is obviously ego driven in this situation.
I'm also receiving an inheritance from my father, nowhere near the magnitude of this woman's, but it is mine. My father made a stipulation that each of the grandchildren (3) will receive 10% of whatever my brother or I receive.
Our first distribution was a $300k+ Inherited IRA, and we have to take a RMD this year.
It is only yours alone if you put it in an account that is not a joint account. Legally, once you comingle the money it is both of yours. Keep that in mind.
Take your money & run girl. You can have a great life & not stress over him
Her highly intelligent husband has clearly read 'If You Give a Mouse a Cookie.'
John and George should, too.
Invest it and live on 4 to 5%. An inheritance I received years ago is invest in 60% stocks and 40% is kept in a treasury account. I live very comfortably and I want for nothing. And I sleep really well at night. If you don't budget, I would start. Be intentional with your money and if you do it right, you will be fine. Also, just a suggestion, don't spend on big projects until you live with your new budget for a year or two. You'll make better decisions then.
Are you using any of the money? How much do you take per year, and what do you use it for? Thank you.
@@genxx2724 I budget $1000 per month for recurring expenses, $1000 for food and incidentals, And about $7,600 a year for property taxes, home and car insurance, and income taxes. So I live on approximately $31,600 per year. And I save about $10,000 a year.
The issue I need.
The issue is exactly what the host said. You called his struggle to provide for his family a home worth 500k a sandcastle and you said she wiped it away. If the host are professionals and still make that mistake imagine the wife. Lady be happy with whatever he gives you which is way more than most. Let your husband lead because before this money came he was a provider a winner. If I was you give him total control of the money and tell him. My love and husband I trust you
i really like john. wat a great call for him
I hope she didn’t put her dad’s inheritance into a joint account and commingled the inheritance. If she did, now he can take half in a divorce.
Think they may have missed the mark here, but a qualified professional will likely be able to bridge the gap. The way she described things gave the since that the underlying issue MAY be that before (lets guess 20 years) he's made all of the money and they built a life and plan TOGETHER, and now with this inheritance shes saying MY money instead of OUR. Shouldn't assume he's solely at fault at face value
Good point
This is why parents hesitate to leave money. The children can lose it all.
While it's not the Ramsey Way, inheritance is not a marital asset unless they combine the funds with marital assets.
4% is 288,000. If they put that into a large cap mutual or index fund, or a money market fund, they should have no problem preserving it, as long as they don't spend the principle.
I wish my wife was halfway on my team like this lady is. Geez.
Kinda simple, you have $8.2 million, Build a $900K house with everything you want, leaves you with $7.3, Invest long term index fund 75/25 low cost $5M, Pay off all debt another 100K put 2.2M in MMF or HSA and start living off that at $110K a year and any splurges out of that. In 10yrs your $5M will be close to $10M
Step 1 - dont talk about it
Step 2 - keep them as they were invested in a way
Step 3 - dont spend like the money will never run out
Step 4 - take time to process this gain
I would use some of the money to pay for theraphy and counseling for him