Community Chat

[Alison Wonderland]

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@cherry wrote:

@Marceil   I would just tuck it away ,until you see the right thing. You will know it when you do

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I think this is good advice.

You can hold onto it and when sometimes comes up, an opportunity to take a vacation you wanted, a concert or show you wouldn't normally spend money on, or a piece of jewelry you like.

Sometimes waiting brings exactly the thing into our lives.

[DLew]

A trip. Memories that will last your lifetime. 

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@Marceil wrote:

I inherited some money from my 96 year old dad.  I helped him and my mom for the last ten years of their lives.  I plan on investing all of it except for $2000.  I decided to buy something with the uninvested money and enjoy it in payment for all the work I did for them.  Any suggestions?  I'm thinking of a piece of jewelry, but not sure.

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[manny2]

Enjoy whatever you decide to do with the money! I think it is a great idea to invest some, and indulge with the rest. Ignore the negative comments misery loves company.

[lovesrecess]

I would take a trip or go someplace you have always wanted to go. Relate memories only you can create for yourself. You are probably younger than me, but I find buying any expensive material things for myself now other than clothes not very pleasing since my family will be stuck with disposing of it or figuring out who wants it.

[chrystaltree]

I assume, you've already paid the taxes on your inheritance.  This is gift from you to you so if you want a piece of jewelry, buy something you love.  As for investing a windfall like that, just be sure you what you are doing and who you are trusting your money.  As my dad advised us....only invest if you can afford to lose the money.  

[JesssMe]

If you do decide to buy a piece of jewelry, I would suggest a bracelet or a ring. You can see either piece, as opposed to earrings or a necklace.  If you are a ring wearer, one with the birthstones of your parents, or you entire family would be a great tribute to them.

A trip would also be lovely, maybe you can find a way to do both!

[DianeJ2]

@Marceil  Buy what speaks to you, take your time though when you just inherit money. Is there something you've always wanted but didn't get for yourself? Your parents birthstones on a bracelet or necklace to honor Your bond with them might be nice.  So Sorry for your loss. Being a caretaker is so loving yet so hard. 

[Love my grandkids]

@rms1954 There is no need for you to scold the OP. She was sharing something nice that has happened for her. What's the big deal? Sheesh.

[manny2]

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@chrystaltree wrote:

I assume, you've already paid the taxes on your inheritance.  This is gift from you to you so if you want a piece of jewelry, buy something you love.  As for investing a windfall like that, just be sure you what you are doing and who you are trusting your money.  As my dad advised us....only invest if you can afford to lose the money.  

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There is no tax on money, or property passed from parent to child with a few exceptions. The exceptions would be if the money was in a retirement account or 401(k).

[Drythe]

@Marceil 

I am sorry for your loss.

As others have suggested, hold on to it until something speaks to you.

You, know when you see something special that calls your name? I wanted a coin ring for a LONG time, but a small one.  For years I saw lots that were just not quite the thing.  Walking down a street one day I saw MY RING.  My Dad, DH, and I were in Florence; Dad said, Get It!  

So glad I waited, and will always remember that trip, and his encouraging me.