I am 37 years old, and I recently inherited $85 million from an old oil trust established by my grandfather. I didn't know my parents growing up (both of them passed.. my mom and his son passed from drug use). I was raised by my aunt, his only other child. Ironically, my grandfather didn't really support me that much in college. He gave me some money, but I got a scholarship, had a job, and was always stressed out.
I would like to go back to college. The trust manager, who informed me of the inheritance, told me to "Get a great home or 2, invest, and relax", but I don't really want to do that. I have thought about a 10 to 15 year "college plan" where I would go to college, get numerous degrees, learn a lot, and maybe even get a law degree. I would like to get an apartment (not a cheap one, but not a mansion fit for a millionaire either) near a college campus in (or near) a major city and just focus on studying and learning. The most that tuition would cost me is maybe 40 grand a year and a luxury apartment would only cost about 5 or 6 grand a month (even in expensive cities).
I could easily just get a meal plan at college or buy my own groceries. All the financial experts that I have talked to about my situation say I can expect to earn 7% return, so that is several million dollars a year. At most, going to college year round, I could see myself spending maybe 250 grand total a year, and that is only if I go to college every single semester. The rest of the money would just accumulate, and I would still be saving/investing a new amount of several million a year, so my wealth would still be increasing by several million dollars a year.
That's why I see no reason why I can't go back and really enjoy college, enjoy those lectures, and spend late nights studying and reading textbook.
I would like opinions about the concept of me going back to school, so please let me know!
Submitted September 07, 2020 at 10:28PM by theniceintellectual https://ift.tt/3bFg7h4
