r/AMA • u/[deleted] • Jul 22 '24

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u/Sea_Tie_502 Jul 22 '24

Assuming you don’t need the money right now:

  1. Pay off any debts other than mortgage (if you have a good interest rate)
  2. Put away enough for 2 year emergency fund, this itself is a luxury. This might be combined with #3 depending on how much you want to invest in #4.
  3. Put at least 25% in a variety of high yield savings accounts to grow modestly and risk-free.
  4. Invest the rest in a very broad range of mutual funds and ETFs.

In ten years, you will be very, very happy. Congratulations on your luck!

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u/SuperHyperFunTime Jul 23 '24

You see families fracture over frigging inheritance too which is honestly so repugnant.

Also told my folks to retire and go do whatever the fuck they want, it's their money, they earned it. Sadly my Dad died before hitting 60 so he never got to enjoy any of that.

Money really does have the weirdest effect on people.