Got 1 million inheritance from father

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[jordanh]

Dave I took your advice and invested in CDs but it's not going well, it turns out everyone uses ipods and iphones now, please help

[ZigZagPower]

Me: Dave, i make 400k a year, i owe my friend $20 due to a lost bet. What should i do?
Dave: Do you have a car?
Me: Yes
Dave: Sell it. The the car gotta go. And for the next 8 years you will be living in a dump. You're not gonna see the inside of a resturant, unless you're there to work part time.
Me: umm.... okay, anything els-
Dave: You'll be living on rice and beans, beans and rice. No other drinks than water, buy a bike, a used one, for as cheap as humanly possible. Also move to a 14 square inch apartment, and no lunch, you'll be skipping that. Anything you have of value in your life whatsoever, anything from a pair of headphones to your wife... SELL IT!
Me: :(

[stevensmiddlemass]

I recently inherited almost $500k. I REALLY need to make this money work for me, and not just disappear over time. All roads have pointed to the financial market of some sort which is a good idea buh where else should I put money besides the financial market?

[miketheyunggod]

Me: I just inherited $1 trillion dollars.
Dave: Beans and rice until age 65.

[Mentalhealth_fitnessdad]

Buy a 1 million dollar car. That’s what Dave would do. Trust me.

[latuman]

I'd continue to work OUT OF SPITE. Must feel good to be able to say at any point "nah, I dont feel like doing that. I'm leaving".

[MrFarkasOfficial]

a friend of mine invested his inheritence in a trust fund and used the monthly interest to slowly pay off his mortgage. but he never got that relaxed feeling because he was always worried his investments would turn sour. i am no savant but i would say that peace of mind is a priceless feeling and knowing that you´re completely clear of debt is something worth paying a healthy chunk of your captial for.

[duvalpenny]

Hats off to the NFL player that had his millions in a bank account.

That is seriously impressive. Too many stories of these dudes going broke really fast because they don't know how to spend responsibly.

[oliverallen]

Good advice. When you get money your job is to learn about money management.

[ddavis]

This is what people refer to as a good problem.

[mikemencon]

Putting 15M in a cookie jar is HIGH risk with fiat money. Invest in real estate.

[pamperedgurl]

pay the mortgage, pay the debt, save some, invest some and continue to work. Thats what I would do

[dangerdavefreestyle]

South Park: Okay, we'll go ahead and invest that for you in a portfolio....AND ITS GONE!!!

[mskayshante]

I'd pay off the house. You never know what will happen and at least he will still have a roof over his head. Invest and travel with the rest.

[piergraham]

I love it when Dave disconnects the caller!

[ActionJackson]

I would pay the house off but that's just me

[barbieblue]

Realized halfway in that I wasn't listening to Dave, reading comments lol.

[jordantrae]

I would of course pay off the house. Put the rest away in the safest place for 12 months, and take that year to study.

[iaindennis]

Pay off the debts, help out the kids, invest the rest and relax and enjoy.

[tpowell]

Excellent advice Dave....People need to LEARN