But the dogs need support, too!
My dad died in 2020, unexpectedly. My sister and I have been working on settling the estate since then. He didn’t have a current, signed will, so it took a while. He owned a couple houses, which we have sold, and he also had some seven figures socked away in two investment accounts. I always knew he had over a million, but I didn’t know it was this much.
So my question is, how do I not go crazy with it? I haven’t made any major purchases, and I have promised my husband that I wouldn’t make any for at least a year from when I get the money . My husband basically says, “it’s up to you what to do with the money; it’s not mine, so I don’t want to tell you what to do.
I would advise specifically against solely keeping the money in the stocks your dad had, unless you’re equipped to follow and analyze them yourself, and most people are not. A financial advisor can tell you how to round out your dad’s equity portfolio with other things that will mitigate risk while still giving you some potential equity upside.Then, when you know what you really have to work with outside of necessary expenses, you can think about how you’d like to spend the balance.
One way to think about this is to think about the things that have brought you the most lasting satisfaction historically, and invest there. Another is to think about how you’d like to be living your life in the next year, in five years, in twenty, and what it would take to get there. Five-year plans are not just for job interview questions.I am bad with money.
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