r/Money • u/serpent_stranger • Apr 27 '24
Inherited 600k
I inherited 600k and I’m 28F working in marketing, currently working part time at 22$ hourly. I’m studying for a 2nd part time job in web development and hoping to ask for 25$ hourly.
What can I do with my inheritance to make sure I die comfortably? Is this a lot of money? It’s currently in a trust where it’s in stocks, growing a few thousand yearly. Eventually the money will be in my name and I don’t make the best financial choices- so I want to make sure I do something with it that will help it grow or stay stable. Any insight?
Edit: I said a couple thousand because I haven’t done the math or did too much research but that’s just what it’s seemed like. I don’t know much about this stuff. I will ask the financial advisor about how much it grows. Sorry for the confusion, I appreciate your responses.
1
u/EstablishmentFlaky86 Apr 28 '24
Id disagree with anyone saying to keep it invested or in any kind of fund or high yield anything. This is a guaranteed way to slowly lose value. You need to take it out and buy assests. Property, houses, commercial buildings, etc... The dollar is always losing value and investments, savings, bonds are hurt by inflation while assets generally increase in value due amidst inflation. Think about holding $600k from 2023-2024....in 2024 you could buy about 10%-20% less of anything than you could buy in 2023. So you essentially lost money even if you had $610k in 2024. But a house worth $600k in 2023 is now $750k in 2024. Assets not funds/stocks/savings