I unexpectedly inherited £290,000 and I never dealt with this much money help?

[poordeveloper]

Im still making choices right now, just want any ideas, or anyone who has been in a situation like this.

I have no business ideas at this moment.

Has OP posted again after this post?

[beetcoin]

be like hilariousandco's uncles.. just go to thailand, live off the beach and spend your days with hookers.

[Bitcoin Magazine]

i have a $100 trillion note from zimbabwe  

[bryant.coleman]

i have a $100 trillion note from zimbabwe  

You can get the same for $5 from Ebay. 

[Bit_Happy]

Im still making choices right now, just want any ideas, or anyone who has been in a situation like this.

I have no business ideas at this moment.

Has OP posted again after this post?

No, it looks like post #5 was his last.
Probably off spending some of his stack of cash. 

@OP
Try a variety of investments; As long as you stay employed you should do pretty well.
Have fun too.

[DAYAGO]

Well.....

You could always give me 10% so you don't have to deal with the preassure 

[durrrr]

you should buy a new car and a new home and spend 20,000$ on a month in vegas and strippers and cocaine and then go back to your normal day to day life but enjoy house and car

[Bit_Happy]

Well.....

You could always give me 10% so you don't have to deal with the preassure 

I'll offer the same deal for only 27%, you will have even less money to worry about.  
FYI: The OP left more than a day ago, DAYAGO.  

[Bitcoin Magazine]

ok listen to me.  and then stop.

1) buy £280,000 worth of BTCitcoins.  whatever price

[bryant.coleman]

ok listen to me.  and then stop.

1) buy £280,000 worth of BTCitcoins.  whatever price

No. £28,000 might be a good amount. Or may be even £56,000. I definitely don't want anyone to invest all his inheritance in an extreme-high risk investment. Take the risk only if you can afford it.

[Bit_Happy]

ok listen to me.  and then stop.

1) buy £280,000 worth of BTCitcoins.  whatever price

No. £28,000 might be a good amount. Or may be even £56,000. I definitely don't want anyone to invest all his inheritance in an extreme-high risk investment. Take the risk only if you can afford it.

Yes, all 100% would be unwise for a single huge BTC purchase:
He needs to save some money for when BTC goes down $10 

[4mherewego]

I was born poor, then got rich fast so I can relate. One advice is not to spend money on things that you will only hate yourself for.

If you want to eat nice, eat nice. If you want to have that particular shoes get them. But if you are not comfortable at that high end night club, don't go there, if you are bored don't go buy random gadgets.

As for investments I did pay off my student loan, bought an apartment, put most in index funds and got some bitcoins. Can't go too wrong by doing that.


There is this book you might like
http://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680011

Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

[counter]

Rich Dad Poor Dad is a book I've really wanted to read.  Good suggestion right there ^^

[firejuan]

Assuming you live in the UK do you have the US equivalent of FDIC (Federal Deposit Insurance Corporation) which will only insure an individual bank account for $250,000?  If that is the case then you need to open multiple accounts to ensure that your money is protected while you are considering your options.  They can be at the same bank, but under different names John Doe, John A. Doe, etc., but I would probably go with a different bank so that all your money was not tied up in one financial institution. 

It would probably be wise to spend some time with a lawyer and a financial adviser to protect your new wealth.

[zolace]

Buying a duplex or something like that is a nice idea, you can live in one half and rent out the other. people do it all the time and if you can price it right, the renter basically pays the whole mortgage. You might want to think about starting retirement funds too, Roth IRA etc ,and invest in bitcoin too.

[farlack]

If you didn't blow though your money yet.. Buy a few btc and buy stock that pay dividends. Spend it all on that, yeah 290k is a lot, but you didn't have it before so it will be like you never had it, and you have the potential to make 20,000 a year in dividends for the rest of your life.

[fattypig]

Ok, the easiest and best way right now is buy bitcoin with it at $450 and sell it when it reach 600$.. easy 30% gain..

[bryant.coleman]

Ok, the easiest and best way right now is buy bitcoin with it at $450 and sell it when it reach 600$.. easy 30% gain..

Well.. if you have plenty of time, then you can try that. But there is also a small chance that you'll lose all your money. What you'll do if Bitcoin never recovers from the $400-450 levels?

[Bit_Happy]

Ok, the easiest and best way right now is buy bitcoin with it at $450 and sell it when it reach 600$.. easy 30% gain..

Well.. if you have plenty of time, then you can try that. But there is also a small chance that you'll lose all your money. What you'll do if Bitcoin never recovers from the $400-450 levels?

Start with ~60% BTC and trade as it goes down.
Don't simply keep buying but take some small profits on any Rally and then buy those back even lower.
Bear markets can sometimes be even better than Rallies. 

[beetcoin]

i dont know how capital gains taxes go in europe, but they probably aren't less than america. if u were in america, that'd be 40% capital gains taxes if you sell that quick. it may not be the best idea.