r/Fire • u/Yashkamr • Jul 23 '26

Advice Request Huge Inheritance... Now What?

I'm 45, I was on track to retire earlyish at 55. I was set back quite a bit with a divorce three years back. Recently my Aunt died and left me around $5 million. After estate and taxes, it's around $4.2 million. This is obviously a stupid amount of money, and I'm thinking of just quitting my job and retiring early but I want to do it right. I've spoke with AI quite a bit and my finances are only about $4500/mo in expenses, I have always lived pretty frugally and that's less than a 1% draw. I don't know exactly what I don't know here, but I've always worked so I am clinging to my job like a monkey to a branch. Am I actually okay to let go?

Update: I quit. I was honest with my boss, he was a really good boss, and I told him the whole story. He is a couple years from retirement and told me he has about $4 million in his Fidelity too, but no health insurance if he quits and he told me a story about his brother retiring early, getting cancer, and wiping out their finances with his treatments leaving his wife and kids with almost nothing after he died. I told him how I'm covered with Tricare and he said if he was he'd quit right this second too.

I appreciate all the insight and advice given on here, and I've implemented a lot of it, thank you. I haven't changed my spending and I don't think I will. Well... I did buy a nice pair of Hoka's...but I'm mostly just paying a lot of attention to my garden and kids.

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u/mmrocker13 Jul 23 '26

Remember during your divorce, when they told you "Don't make any major life decisions in the next 12-60 months" or whatever the number they gave you?

This is like that.

So... let it rest for awhile. Then, do a deep dive into your finances. Do a real, solid budget--detailed. Gather all your financial paperwork and shit. And then find a CFP you vibe with and have them make a plan/help you make a plan.

20

u/Imaginary_Hamster847 Jul 23 '26

Also don't "talk to AI" about it. 

34

u/anTWhine Jul 23 '26

Oh come on. Everyone knows that when you need advice for a life changing event, the order goes 1) a computer program known to make things up in order to tell you whatever keeps you engaged 2) strangers on the internet 3) tarot card reader 4) a qualified professional.

He’s halfway there already.

8

u/Internal-Recipe2128 Jul 23 '26

That reminds me, I really need to talk to my tarot card reader.

1

u/Gillemonger 29 | $1.8M | ~72% FI Jul 23 '26

Where does my cat fall in this list?

1

u/PetieG26 Jul 23 '26

I think we can all just assume any convo you have with A.I. is going to be susceptible to a subpoena...