Hello people of PF,
A few months ago my mother passed away, leaving an incredibly large and generous will to be distributed among relatives. However, in the will it details that money isn't to be distributed until that person is of a certain age (35). I'm nowhere near that age, only having my 26th birthday back in March, my money will be held onto by an executor. The amount is in the realm of 600k-700k CAD.
I'm wondering what I should do? The windfall section is helpful to some extent, but addresses more about impulse spending, which I can't really do so I'm reaching out for advise on what I should do on the investment front. The will seemed pretty ambiguous with what the inheritance can be put towards and my aunt sees me as an adult who can make choices independently and is willing to give me as much freedom as legally possible.
The only option may just be investing, but what should I put it towards? Is there some 10 year program I can dump all my funds into and expect the money to double by 2027? After that 9 year wait, I feel I'll have enough to retire from any stress intensive jobs. What steps can I take to make that happen (if I choose to) and what lifestyle choices would you recommend I take in the meantime to not ruin this amazing gift?
Currently I work full time, make roughly 74k CAD a year and save about $1000 a month. I'm currently 5 months into a relationship, they know that my mother passed but not about the will/extent of the wealth. I have no plans on sharing this information with anyone outside of the immediate family who all already know.
Submitted May 11, 2018 at 01:28AM by Throwaway123697 https://ift.tt/2jMdtvM
