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Thread: $12 million inheritance

  1. #21
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    Quote Originally Posted by tygrus View Post
    I know this is a troll because wealthy people who give inheritances that are large are worried about the benefactor blowing it up in a few years, therefore, they assign it to a trust and a manager and have them invest and dole out the proceeds annually for a period of time until the benefactor reaches a certain age. They dont just drop $12MM on the lap of one of their relatives. Rich people plan like there is no tomorrow. Their biggest worry is losing their fortune.
    tbh wouldn't be surprised if OP will receive an amount - maybe not 12 mill - but a large enough amount. in his prior posts he boasts about having a fully paid of condo and his attitude towards other poster's suggestions (which he asked for) imply it was bought for him by parents etc. who knows! he could be one lucky ugly duck!


  2. #22
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    Quote Originally Posted by Plugging Along View Post
    The skeptism on this board comes from the fact of so many people coming here getting large windfalls, and not having a clue. If one is in such a situation, the situation itself is rather unique, and one should not be coming to an anonymous board to get generic information for their very specific situation.

    A generic question is fine to point one out in the right direction, but to be looking for advice on how to invest large amounts of money with certain expectated gains, and not want to either put any work in or pay someone is penny wise, pound foolish.

    In this $12mil example, why 10% or even 5? At five percent, that's $600 k a year. Is there a reason to want to generate that much. Of course more is better, but the ultra wealthy I say at least 9 figures) do not think on the same terms as the most. Even at a two percent return in a GIC you could get $240K.

    In real life I actually know many people in ultra weather class (many sold their businesses) and most don't come to a forum to get key advice. They may ask a couple of questions, but not how to invest.

    There are probably no more than a handful of people here that have dealt with or had to think about managing 9 d
    Figure portfolios here's, and fewer that do it without any professional advice. Unless you plan to spend it all before you die, there are always estate questions, and many ways you can set up trust, corpoarates, and many ways you can plan for future generations. NO ONE On here can consult you all the way through.

    I also find it ironic, if the people aren't trolling, that they have all this money, that they are too cheap to pay for some good advice, and I assume (right or wrong) it's due to greed (cheapness) or foolishness.


    Plug you're absolutely right as onlyMO says.

    but you know what? there can be exceptions.

    one exception was the $15 million brand new poster who asked what he should do. Folks on here were skeptical until he let on that he'd previously posted here under another username.

    i realized that he was for real. He'd had a real estate partnership which he'd wanted to dissolve because he was the rainmaker doing all the work. He wanted to remain friends with his former partners.

    flash forward ... new username ... he'd managed to successfully dissolve the partnership & he'd wound up with the $15M.

    one reason why he liked scooting around on here, for a little while, is that he'd also been interviewing the usual ultra-high-net-worth professionals. He complained that they were slavering - drooling & slobbering far too aggressively - after his money. So he found our anonymity & our coolth very refreshing.

    he disappeared because at $15M he didn't really have much in common with us poor working peasants. Still, he wrote to me with his real name & yea, he was for real.

    as for this OP with the inheritance, i think you & tyg may be right. Coming to an anonymous finance chat forum & asking how to invest $200k doesn't really attract much attention. Do couch potato, a few may yawn in reply.

    but coming to an anonymous finance chat forum with 12 million dollars, now that ought to wake em up!


    ps Plugging how you coming along with the job decision?

    .

  3. #23
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    Quote Originally Posted by Plugging Along View Post
    The skeptism on this board comes from the fact of so many people coming here getting large windfalls, and not having a clue. If one is in such a situation, the situation itself is rather unique, and one should not be coming to an anonymous board to get generic information for their very specific situation.

    A generic question is fine to point one out in the right direction, but to be looking for advice on how to invest large amounts of money with certain expectated gains, and not want to either put any work in or pay someone is penny wise, pound foolish.

    In this $12mil example, why 10% or even 5? At five percent, that's $600 k a year. Is there a reason to want to generate that much. Of course more is better, but the ultra wealthy I say at least 9 figures) do not think on the same terms as the most. Even at a two percent return in a GIC you could get $240K.

    In real life I actually know many people in ultra weather class (many sold their businesses) and most don't come to a forum to get key advice. They may ask a couple of questions, but not how to invest.

    There are probably no more than a handful of people here that have dealt with or had to think about managing 9 d
    Figure portfolios here's, and fewer that do it without any professional advice. Unless you plan to spend it all before you die, there are always estate questions, and many ways you can set up trust, corpoarates, and many ways you can plan for future generations. NO ONE On here can consult you all the way through.

    I also find it ironic, if the people aren't trolling, that they have all this money, that they are too cheap to pay for some good advice, and I assume (right or wrong) it's due to greed (cheapness) or foolishness
    First of all, I believe in gathering as much info and advice as I can. That includes asking questions on internet forums, but will also include getting a financial adviser in the future. If you think I'm going to act on just information in this thread alone you are sorely mistaken. I also plan on buying a few good books on investing, and I will probably also attend a few investment conventions.

    Oh and I'm not a troll and the negativity on this forum is astounding

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  5. #24
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    Quote Originally Posted by Esco View Post
    First of all, I believe in gathering as much info and advice as I can. That includes asking questions on internet forums, but will also include getting a financial adviser in the future. If you think I'm going to act on just information in this thread alone you are sorely mistaken. I also plan on buying a few good books on investing, and I will probably also attend a few investment conventions.

    Oh and I'm not a troll and the negativity on this forum is astounding
    can you prove you arent a troll? only way to do that is pics when you are on the internet unfortunately, or meet up with somebody here since we are all canadian generally shouldnt be too hard.

    but imo your attitude kinda stinks so my guess is you would have a hard time with this.

  6. #25
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    I don't think we should assume anyone is a troll. Inheritances and other gifts within family do happen.

  7. #26
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    Quote Originally Posted by redsgomarching View Post
    ^ considering people get paid 1% of assets for advice please send an etransfer to my email address in the amount of 120k.
    Good one! These investment advisers/advisors make easy money and don't have to take responsibility if the ROI is not what they quoted.
    secondly, you could literally put it into gics and live off the interest forever. assuming 12 mill - pay off house and any other debts, top up registered plans for tax free gains/deferrals, if you have kids get some funds in their RESPs.

    at an average GIC ladder of 3% you are looking at 360k per year in interest income if done will the full amount.
    This is what I would be doing. While the return is low, it is guaranteed and you can sleep at night knowing your money is safer and no ridicuous management fees or up front load funds.
    Last edited by carverman; 2017-04-08 at 04:29 PM.

  8. #27
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    Quote Originally Posted by carverman View Post
    Good one! These investment advisers/advisors make easy money and don't have to take responsibility if the ROI is not what they quoted.


    This is what I would be doing. While the return is low, it is guaranteed and you can sleep at night knowing your money is
    safer and no ridicuous management fees or up front load funds.
    that and 360k per year is closing in on executive level salary (not including bonus or stock options) - would be hard to spend that much per year or need more than that.
    even in my family my father made that per year with 4 kids and helping out other family + having to buy out his partner he still managed to max rrsps, resps, and take us on atleast 3-4 trips per year.
    honestly i always envy my parents with what they have been able to accomplish with 4 kids and just makes me glad i don't plan on having 4. university tuition for 4 combined is average 60k per, 240k after taxed dollars saved for university less what we made while working and scholarships but all of us ended up doing masters. my sisters first year tuition abroad was our 4 years combined!

    blah!

  9. #28
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    Quote Originally Posted by Esco View Post
    First of all, I believe in gathering as much info and advice as I can. That includes asking questions on internet forums, but will also include getting a financial adviser in the future. If you think I'm going to act on just information in this thread alone you are sorely mistaken. I also plan on buying a few good books on investing, and I will probably also attend a few investment conventions.

    Oh and I'm not a troll and the negativity on this forum is astounding

    esko u may not be a troll but you surely are one delicious fellow.

    please look at your first post. You're way too naiive to be inheriting $12 million. If by some remote chance it's true, your benefactor has made a serious mistake .

    in proof of which, here you are again with more evidence that your situation is a little zany.

    a) you're unashamedly asking an anonymous forum for free advice & guidance, then you plan to turn up your disrespectful nose & depart with the stolen goods;

    b) next, you plan on buying a few books on investing. Green star. You didn't mention whether you'll read em, but at least you'll buy em;

    c) next, you will probably bestir yourself to attend a few investment conventions;

    d) following which, having transformed yourself into buffett junior in the course of a few short weeks, you will promptly undertake the management of 12 million dollars ...

    .

  10. #29
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    Quote Originally Posted by james4beach View Post
    I don't think we should assume anyone is a troll. Inheritances and other gifts within family do happen.

    not like this .

    .

  11. #30
    Senior Member tygrus's Avatar
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    From now on, all HNW people and trolls alike can just get their financial advice from John Goodman;

    https://youtu.be/rJjKP8vYjpQ

    Unfortunately, I am more Mark Walberg

    Last edited by tygrus; 2017-04-08 at 04:42 PM.

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