The burdens of wealth is more than I ever thought...any thoughts?

Question

(Some will take this wrong) To make a long story short, I inherited money when my father died. I always knew that I would but I had NO idea just how much. I did in fact quit my job to do the things I enjoy, the interest alone is 60 x my old salary and it seemed pointless. I can't believe how family & friends have become...they are no longer real and always seem to want something from me...99.99% of the time cash! I bought a house in Maui (near Hana) it's the only place where I can find peace, everyone there is rich and there is no pressure's. Almost everyone that I know wants to tell me of their money problems hoping I'd help them...business ventures, houses, cars...I can't believe they have the nerve to just ask me to write a check after all I'm rich...they love to tell me just how to spend my money....with them of course after they tell me to watch out for other people wanting $$...it makes me sick, you NEVER know who is real anymore. I'm so tired of hearing If I were U

any advise

Answer 1

My brother became wealthy about a decade ago, due to his shrewd business acumen and working like a dog for about a dozen years. He easily earns 10 times what the rest of us makes, and has a great deal of accumulated wealth.

He handled it in two ways. First, at least to his immediate family, he gives an annual cash gift at Xmas, of $10k. Yes, I am one of the recipients. He has told us this will be an annual thing as long as he remains wealthy.

Second, he let us know that if we came to him with a sound business proposal, he'd quite possibly invest, but he's a shrewd businessman so don't waste any time on a half-baked proposal. But otherwise, don't look to him for any cash. To my knowledge, no one ever asks him for money, and he seems happy that he can help out his relatives every Christmas.

Christmas is coming around the corner. Consider giving large cash presents to family, even if you'd think they'd waste it. Let them know that any other money they ask for will be contingent on making a sound business proposal. Unfortunately, I've never had that great of a business idea to take advantage of that.

I know this isn't the greatest answer in the world, but it works in my family. Unfortunately, it looks like it's too late to keep the news of your instant wealth secret. Good luck.

Answer 2

Your wealth will become rewarding and a joy when you use it to bless the lives of others. Choose a few non-profit organizations that you believe in and make some donations, or set-up your own non-profits. Perhaps use some of the money to make it possible for yourself or others to go on humanitarian trips.

As for family-- very kindly let them know that it would not serve anyone's highest good for you to enable them to live under their full potential by giving them money based on nothing.

You might want to consider how your father would feel about your choices as well. You may determine that he would be very happy--- I'm not insinuating that he wouldn't. I'm just suggesting that you might want to make sure that you continue to be engaged in good causes-- it doesn't have to be a J.O.B.--- there are many things you could do that would be rewarding for you and beneficial to society. Just don't waste your life feeling that anything you do is 'pointless' just because you have money.

If you would be interested in a way you could help people who come to you telling you about their 'money woes' for less than $100, but would require that they also 'help themselves', email me. It would be an easy answer to someone to say, "It wouldn't really help you for me to just buy you a car or a house, but I will invest $100 in you if you are willing to invest in yourself." It would also re-imburse you by their efforts.

Good luck with whatever you choose to do.

Sharilee Guest
Founder, AmericaTakingAction.com
MyBookwise.com/nonprofits
Hookedonabook.wordpress.com
Hookedonabook.com

Answer 3

interesting dilemma. what do you enjoy doing? start a project, a business venture, or take some time off and explore the world. people may feel more inclined to pressure you for cash-donations due to your curcimstance. although you have earned the money, you have not worked for it. others may see this and assume that the money you have can be obtained by not working for it--or simply just asking for it. its easier to take a dollar from someone who has just found it rather than someone who worked for it. you make take this wrong, and its understandable...

im sorry for your loss, but not many people are as fortunate as yourself. do what would have made your father proud. sponsor something in your family's name. find what it is that you truly like doing, and invest time and money into it.

ex. like to golf? create a golf course, play all day, invite your friends, bring in some pros. make some connections, have fun. people wont ask for your money as quickly when they see you funneling funds into an investment. make friends with people who have more money than you.

good luck, just keep yourself happy and stay alive. write your will carefully. your two best friends should be an accountant and a lawyer in the future. be careful, people are greedy... money brings out the best in people i guess...

Answer 4

BE THANKFUL.

I get paid just above minimum wage for nearly 40 hours a week; I was involved in a car accident a few months back where my car was written off and I can't afford a new one; I can't even afford to buy new clothes either just for myself or to make a good impression at work.

You're lucky.

Seriously though, if you want to get rid of some money, donate to charities; set up some sort of foundation for stuff you believe in, the world seems to be your oyster.

Answer 5

depending on howmuch you are willing to help your fellow man, you man decide to set up a trust fund for relatives. One that allows them to have access to the interest, but not to the actual money. This should be effective in stopping them from constantly bothering you for money and at the same time will give you a feeling of doing well for your fellow relatives.

As for non-relatives, there is no reason you should feel obligated to help others that are not related to you.

If you do wish to help those not related to you, you could set up a foundation to assist whatever type of people you would choose.

Answer 6

particular, end telling human beings how lots money you have. the coolest human beings (in my eyes) are the persons who've the mansion, and so on and who holiday around in prevalent outfits and a beat up pickup truck. That way - while they meet strangers no one has any thought how lots money they have. IF I have been you, i could end having touch with the "previous" crowd who're being impolite (and in the event that they have been actual buddies they does no longer be so impolite). i could pass to a clean city the place no one is conscious you and purchase a prevalent residing house. as quickly as you purchase your residing house, make beneficial it relatively is hidden. hire out of city contractors to place additions on it. shop a low profile. you may watch the action picture "Envy" - it may help to describe why your friends/family contributors are performing in a diverse way in direction of you. something it relatively is extremely reliable approximately assembly "actual" human beings is the internet. Over the internet - no you may even see you have money except you tell them. regrettably, lots of persons are money hungry. they do no longer understand that even many "destructive" human beings in united statesa. have it actual reliable (cable television, food, safeguard, and so on...). money can and does wreck many relationships. you have ultimately got here across the rationalization why wealthy human beings "cling" out with different wealthy human beings. it relatively is a social technology factor... the wonderful suggestion i will supply you to boot to the above is which you certainly could get an preparation. That way you could safeguard what you have and confirm which you're making reliable judgements approximately your destiny. i could advise a regulation degree. UH-Manoa regulation is an astounding business enterprise.

Answer 7

You should be f***ing grateful. Your dad or someone worked hard for that money and you're in Maui doing NOTHING.

I hope you can better the world with your gift then blowing it on self seclusion.

Your friends don't make me sick, you do.

Answer 8

IF IT IS THAT BIG A DEAL INVEST IN A BUSINESS OF YOUR OWN THEN JUST HIRE ALL THE PEOPLE THAT KEEP ASKING YOU FOR MONEY!
THIS WILL SOLVE YOUR PROBLEMS AND MAKE YOU MORE RICH!

Answer 9

WOW, this is an easy one to answer!! Just give all your money to me and I will deal with all your hardships. LOL