if you inherited $780,000 what would you do with it?

Answer 1

First and foremost don't tell anyone you've inherited this money, you'll have friends coming out of the wood work and relatives you never knew you had.

Secondly, find a good investment company and a broker who will take the time to explain your options to you. Also find a good tax person who is also willing to explain things to you and will tell you how to get your best deductions.

Never put all your investments in one basket, it's not wise. Keep a close eye on where your money is how it is building interest. Get print outs on a regular basis from the investment companies you are doing business with.

Try not to use any of the money right now, let it accumulate so that you can put it to good use later on in life. Good luck to you!!

Answer 2

Buy a home and invest the rest. Without having to pay rent or a mortgage every month and with regular employment, I could live quite nicely and still have some money to save. At the very least, I'd sure enjoy it and stress a whole lot less!

Answer 3

Invest it to create passive income, buy property that you can rent or a business that turns over a profit with little management time. Maybe you could creat a passive income of $4000 to $10000 per month in property and have assets that will grow over time. If you go the business route this could be more or but also more risky

This way you will have more free time to enjoy or use to create other assets. You may use any further wealth creation for yourself or to donate to charity. Whichever way is your flavour.

Answer 4

Couldn't you have just rounded it off to a nice $1,000,000?? I can't handle $780,000. But either way, the first thing you'd have to do is.....PAY TAXES! Now..that's a whole new ball game. You might be able to go to WalMart and buy a bar-b-Q pit or something. Godloveya.

Answer 5

I would pay off my car, house, student loans, parent's house and cars, brother's student loans, and other brother's house. That would leave me with about $500,000. I would donate $80,000 to charities. I would put the rest in a savings account, IRA, CD's, or Money Market. These are not risky, some earn good interest. And by the time I'm ready for it I will have made some of what I spent back. MAKE YOUR MONEY GROWN. DON'T SPEND IT ON CRAZY STUFF! I don't have kids so I don't need to worry about college funds or anything like that. Oh and I would take one vacation just to treat myself. :)

Answer 6

Yes...Let try buying a few of the finance books, finishing reading them and try to do some investment in government bonds...then think about buying a house while training yourself to operate business online...going to school to be trained by the best teachers there are to do good on the trade you like...

Answer 7

invest it to make your money grow. first dont tell ur family lol cause they gon be on your pockets sit down n think what would you like to invest it on have some money in ur bank 4 hard times. but just sit down n think how can u multiply ur money the right way. maybe u wanna open a beauty salon or a store or something like that just do research n make your moves the right way kinda like playing chess

Answer 8

1. Pay for my son's education
2. Invest in real estate.
3. Have my own business.
4. Give some to charity.

Answer 9

buy myself one thing I really wanted (not spending it all) and then invest the rest. It sounds like a lot of money, but it really will go fast if you go spending crazy..

Oprah has done shows on people that won millions on the lottery and then spent it all and ended up worse that they were before.

Answer 10

1. pay whatever tax is due.
2. pay off all my bills.
3. buy a relative a small house.
4. move to florida.
5. invest.