Giving you the benefit of the doubt, with US$32m, I wouldn't be looking at most of the suggestions people are making here, which is 5-15% yield on something with mediocre growth in a country with an overinflated currency. Nor would I be at university but that's a lifestyle choice.
Investing my Inheritance
- Thread starter slater
- Start date
As you and basically Uncle Ben (spiderman) said "with great power, comes great responsibility"
-- Investing wisely will come from a lot more learning and good legal and financial advice--
Just remember, that just like your relative that died, you can't take your money with you. You've got another maybe 80 years left (maybe more if investing in GE donor organs).
When investing, try investing in human life, a huge positive life changing impact could be made to thousands of people in need of the basics if invested wisely. Never let guilt or greed enter your strategy.
You have a great opportunity, I am excited for you.
i think i've seen this movie
My advice is to go and get some serious financial advice.
You should not be putting all this money into a single asset type. If it were me I would invest in a range of:
* properties, both commercial and residential
* shares, direct and through managed funds
* cash, including term deposits and bank accounts
* bonds, government and private sector
My aim would be to receive 4-5% in yield, and CPI + 2-3% in capital growth. This will provide around $1.4M per year in yield to live off (or reinvest), as well as having the asset base increase in value at a higher rate than inflation.
You need to think carefully and manage risk, including having appropriate insurances.
Get this bit right, and you will live like a king your entire life, and will have an enormous asset to pass on one day when you pass away.
You should not be putting all this money into a single asset type. If it were me I would invest in a range of:
* properties, both commercial and residential
* shares, direct and through managed funds
* cash, including term deposits and bank accounts
* bonds, government and private sector
My aim would be to receive 4-5% in yield, and CPI + 2-3% in capital growth. This will provide around $1.4M per year in yield to live off (or reinvest), as well as having the asset base increase in value at a higher rate than inflation.
You need to think carefully and manage risk, including having appropriate insurances.
Get this bit right, and you will live like a king your entire life, and will have an enormous asset to pass on one day when you pass away.
Take some tips from the types of investments your deceased relative had, and tap into some of his advisors.
Is it now mostly cash? What was his business or his investments, and why were these all sold off? Who sold them? Sounds unusual.
You'd think he'd know the importance of setting things up so you don't fail, rather than tell you to "have fun"
.
Is it now mostly cash? What was his business or his investments, and why were these all sold off? Who sold them? Sounds unusual.
You'd think he'd know the importance of setting things up so you don't fail, rather than tell you to "have fun"
.
Hi Weg,
I agree, Weg. If Shaun could track down his relative's advisors, accountant etc, it could be extremely useful.
I would have thought so too. Unless this is only part of an extremely large estate or something, and there is more somewhere? (In trusts etc).
Shaun, whatever you decide to do, be careful who you tell about this. You will have to be sure that you can trust advisors/accountants/financial planner's advice. Not to mention your family, friends, etc.
Perhaps doing some investment courses yourself before investing the money could help you gain the knowledge you need to manage this money.
All the best with it. Quiet a responsibility you have there.....
Regards Jason.
I agree, Weg. If Shaun could track down his relative's advisors, accountant etc, it could be extremely useful.
Is it now mostly cash? What was his business or his investments, and why were these all sold off? Who sold them? Sounds unusual.
You'd think he'd know the importance of setting things up so you don't fail, rather than tell you to "have fun"
I would have thought so too. Unless this is only part of an extremely large estate or something, and there is more somewhere? (In trusts etc).
Shaun, whatever you decide to do, be careful who you tell about this. You will have to be sure that you can trust advisors/accountants/financial planner's advice. Not to mention your family, friends, etc.
Perhaps doing some investment courses yourself before investing the money could help you gain the knowledge you need to manage this money.
All the best with it. Quiet a responsibility you have there.....
Regards Jason.
I received most of the personal cash he had
To our knowledge he made most of his money via several sushi restaurants and liquor stores in the US which has not been sold and has been delegated to my older brother who is living there (he is currently having problems with the liquor license?) He once also owned a number of properties which is MOSTLY sold off in recent years. He is an uncle who was eccentric to say the least, never married but certainly had fun in his day. His only family was really only us being the only sibling on my dads side who has also passed away
Anyway, thank you to all who have given their varied opinions so far. From the advice I've taken from this board and other means, I will probably spend some time studying (maybe even at uni) financial planning, speak to various professionals who are in a neutral position to my best interests and will ultimately decide for myself the best options to go with at a time I feel I am ready.
I will report back and keep you guys updated on my journey/outcome in the near future.
Many Thanks
Shaun
To our knowledge he made most of his money via several sushi restaurants and liquor stores in the US which has not been sold and has been delegated to my older brother who is living there (he is currently having problems with the liquor license?) He once also owned a number of properties which is MOSTLY sold off in recent years. He is an uncle who was eccentric to say the least, never married but certainly had fun in his day. His only family was really only us being the only sibling on my dads side who has also passed away
Anyway, thank you to all who have given their varied opinions so far. From the advice I've taken from this board and other means, I will probably spend some time studying (maybe even at uni) financial planning, speak to various professionals who are in a neutral position to my best interests and will ultimately decide for myself the best options to go with at a time I feel I am ready.
I will report back and keep you guys updated on my journey/outcome in the near future.
Many Thanks
Shaun
You could buy 3200 wives in certain countries too.
Wondering the same thing?
i would take a high end holiday straight away and then put in a high interest earning account and then work out the investing later when you get back from the holiday so at least you can evaluate the options slowly.
If you're really in this position (and this is not some far fetched what if )...
then do everything you've suggested (invest, uni etc.) but also...
Why not start a charitable foundation for something worthwhile like disadvantaged kids or disease research. I'm sure if you had a chat to Dick Smith's people he would be more than happy to help you get started.
Try to surround yourself with true friends because you're going to have many, many people interested in helping you spend the money
Most of all, good luck and best wishes on the journey. It's not where you end up that matters, it's how you got there! Enjoy the ride
then do everything you've suggested (invest, uni etc.) but also...
Why not start a charitable foundation for something worthwhile like disadvantaged kids or disease research. I'm sure if you had a chat to Dick Smith's people he would be more than happy to help you get started.
Try to surround yourself with true friends because you're going to have many, many people interested in helping you spend the money
Most of all, good luck and best wishes on the journey. It's not where you end up that matters, it's how you got there! Enjoy the ride
Interesting thread.
Shaun, I would suggest you don't change and continue with what you dreamed and planned to do. So continue to study and be modest with your spending as you are. What I mean by that, imagine you had $1million, so how would you invest that first?
Second: If you wish to plan to seek advice propose smaller investments, so see how most advisors would invest say $3.2 million first. However, I think most financial planners specialise 90% in the products they sell (thus perhaps no direct property investments).
Third: I would invest slowly. Perhaps buying 4-6 units (a complex) of units in NSW first. You could do it yourself or use property specialists or buyers agents.
Fourth: I would get a good accountant and a lawyer to establish appropriate structures before investing and to protect and preserve the capital first! Also, some have access to sophisticated investors investments or private IPO's. However, that comes with education, knowledge, trust and experience.
Fifth, education is the key followed by action.
I think, basically you need to do little steps first.
So if you wish to go into property seek out the best specialists in these fields if you don't have the knowledge yourself.
Just be aware that this will be your success puzzle, no one elses, and as such you need to decide what YOU feel comfortable with. That's why I suggest small steps first and education.
Best of Luck and continue to grow!
Shaun, I would suggest you don't change and continue with what you dreamed and planned to do. So continue to study and be modest with your spending as you are. What I mean by that, imagine you had $1million, so how would you invest that first?
Second: If you wish to plan to seek advice propose smaller investments, so see how most advisors would invest say $3.2 million first. However, I think most financial planners specialise 90% in the products they sell (thus perhaps no direct property investments).
Third: I would invest slowly. Perhaps buying 4-6 units (a complex) of units in NSW first. You could do it yourself or use property specialists or buyers agents.
Fourth: I would get a good accountant and a lawyer to establish appropriate structures before investing and to protect and preserve the capital first! Also, some have access to sophisticated investors investments or private IPO's. However, that comes with education, knowledge, trust and experience.
Fifth, education is the key followed by action.
I think, basically you need to do little steps first.
So if you wish to go into property seek out the best specialists in these fields if you don't have the knowledge yourself.
Just be aware that this will be your success puzzle, no one elses, and as such you need to decide what YOU feel comfortable with. That's why I suggest small steps first and education.
Best of Luck and continue to grow!
What a shady story, I mean this is everyone's dream isn't it! Actually, Im sure someones made a movie about this somewhere. Dont believe it for a second, why would someone who inherited $32m (yes $32 million) come to an anonomous website they have never posted on to ask how to divide it up?? Im thinking you'd being flying to New York, London, Hong Kong etc and seeing the best financial advisors in the world, not a bunch of strangers you know nothing about - no offence somersofters
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