How to use an inheritance?

[iris lilies]

Maybe in your part of the Midwest real estate and property taxes are cheap, but not in the Chicago area!

Well, there’s the Midwest. And then there’s Chicago.

its like: there’s Illinois. And then there’s Chicago. The flavor of Illinois I get as it wafts across the river is nothing like Chicago.

I do like Chicago though, it has great buildings and culture.It powers the midwest.

[iris lilies]

That was a really cool way for your grandfather to leave the money, and I can't think of a better use.

My cousin had a trust and if I remember right it didn’t kick in until he was 25 years old.

As it turns out, he’s always been so cheap that they didn’t need to restrict any gift, he would’ve been loath to spend it. He’s 67 years old now and has retired, but took a job mowing for a tiny town where his country house sits. All of us cousins laughed like crazy at him sitting on a riding mower cleaning up that little town. The town fathers have no idea how much money he has.

My extended family is frugal, so that’s what helped support my own frugality. Once I came to a Des Moines Goodwill from out of state only to run into another cousin, also from out of state. Haha, the thrift stores are where we gather!

[pinkytoe]

They hire somebody to mow it, so it always looks nice

I wish that were the case with the house next door. The weeds in the privacy fenced backyard are 4 ft high with mice and skunks expanding but no one can see it from the street. The front yard is mostly rock and plants but is starting to look shabby. The owner's son took care of everything for about a year after her death but has supposedly washed his hands of the house. It's a great little brick rancher so a shame to sit empty.

[San Onofre Guy]

My first inheritance was being born into a frugal household. My mother inherited generational wealth after my siblings and I were grown. I later, six years ago I received my portion. I paid off our mortgage which was our only debt. I don’t need the money as my pension is more than enough. My consulting income, $35,000 annual is used to fly business class for international flights without guilt. I worked very hard for my pension and always lived below our means. I will be the one yelling at the tax man when I have to take my Required Minimum Distributions from deferred retirement accounts. When I first received my inheritance I struggled with the burden of preserving generational wealth from Europe mid-1800’s. I think some wealth was lost due to depressions, wars and expropriation by rulers. I am appreciative but I don’t flaunt my wealth and I continue to work one third of the time some of that is pro bono. Most generational wealthy people are decent. I find more often than not, those who appear wealthy are not.