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Anonymous #1
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 fuck im really lucky, what is the responsible thing to do? 
#13177632 - 09/10/10 11:26 PM (2 years, 8 months ago) |
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i just graduated high school this year. i am taking a gap year and working part time and taking a few online classes and doing some volunteer work. my mom passed a few years ago and now that i'm 18 i have 160k accessible in a stock portfolio, 40k inherited IRA, and today I found out I have 250k in a trust. im trying not to let it get to my head and be a trust fund faggot, working a min wage job is def helping with that. I'm also probably gonna be blowing like 150k from the trust on a college education starting next year. what am i suppposed to do with my life knowing i have all this money that i dont fucking deserve? kids my age are lucky if their parents pay for their college. I think I'll take it easy till I'm i get my bachelors then maybe start up a business or something. any thoughts? sorry, i must seem like a dbag and i feel like one, especially when I'm around my coworker who can hardly afford his textbooks and is paying his way through college and will likely end up in debt
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Anonymous #2
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #1]
#13177669 - 09/10/10 11:33 PM (2 years, 8 months ago) |
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why is this on Anonymous.. and wtf do u want us to tell u??
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Anonymous #3
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 Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #1]
#13177676 - 09/10/10 11:33 PM (2 years, 8 months ago) |
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it probably would not be a bad idea to shop around for some cheap real estate, if you are so inclined. Depending on what area of the country you live in.
Real estate in Vegas is a steal right now. Don't Gamble!
Other than that the only advice I could give is to try to find something that you enjoy doing, even if you don't make a shitload of money at it, at least your having fun.
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Anonymous #1
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #3]
#13177687 - 09/10/10 11:37 PM (2 years, 8 months ago) |
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Yeah I was definitely thinking about real estate. this seems like a time of great opportunity for that. as far as "what I want you to tell me" i dont even know. i just feel confused. i want to make the best of this
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Anonymous #2
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #1]
#13177706 - 09/10/10 11:40 PM (2 years, 8 months ago) |
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I would def.. buy a house.. I mean its the best time to buy.. hell u may be able to wait another month and get it even cheaper.. the way things are looking
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Anonymous #3
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 Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #1]
#13177767 - 09/10/10 11:58 PM (2 years, 8 months ago) |
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There is every chance that you can lose your cash in the real estate game too, so I would not invest more than 30% of your total portfolio.
Theoretically you could buy a small apartment building and get someone to run it for you and make it pay your way though college and hey, what do you know, you still have the apartment building.
If you are serious about this I would consider moving back to Vegas to run it for you.
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Anonymous #4
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #1]
#13177935 - 09/11/10 12:34 AM (2 years, 8 months ago) |
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Invest in your future man. Business ventures can be very lucrative, but are also a gamble.
I've seen people blow 60 grand in a month, don't let the money make you go crazy.
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Anonymous #5
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #3]
#13177936 - 09/11/10 12:34 AM (2 years, 8 months ago) |
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I had a $20k trust fund when I turned 18 for college. I blew it all in less than 6 months with nothing to show for it. Take your money, save it. Put yourself through school. See if you have to claim it on your taxes yet. If not leave that shit there, get pell grants, use a sob story to get a ton of scolarships and ride through college. When you're done pay the loans off in full, buy a house, and then use what you have left to start your retirement fund.
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Anonymous #1
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #5]
#13177960 - 09/11/10 12:39 AM (2 years, 8 months ago) |
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exactly #5, that is what i'm trying to avoid man. how the fuck did you burn 20k in 6 months anyway? that is fucking ridiculous
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Anonymous #3
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #1]
#13178089 - 09/11/10 01:09 AM (2 years, 8 months ago) |
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I opened my own business at the age of 22, made 50K the first two weeks the doors were open...What does my dumbass do? Go on a three month party binge till I start running low, then back to work!
And before anyone says anything it was not a drug related business.
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Anonymous #5
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #3]
#13178271 - 09/11/10 02:14 AM (2 years, 8 months ago) |
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Umm... $100 trips to walmart? About twice a day? Sounds about right...
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Anonymous #6
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #1]
#13178294 - 09/11/10 02:23 AM (2 years, 8 months ago) |
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Quote:
Anonymous #1 said:
i just graduated high school this year. i am taking a gap year and working part time and taking a few online classes and doing some volunteer work. my mom passed a few years ago and now that i'm 18 i have 160k accessible in a stock portfolio, 40k inherited IRA, and today I found out I have 250k in a trust. im trying not to let it get to my head and be a trust fund faggot, working a min wage job is def helping with that. I'm also probably gonna be blowing like 150k from the trust on a college education starting next year. what am i suppposed to do with my life knowing i have all this money that i dont fucking deserve? kids my age are lucky if their parents pay for their college. I think I'll take it easy till I'm i get my bachelors then maybe start up a business or something. any thoughts? sorry, i must seem like a dbag and i feel like one, especially when I'm around my coworker who can hardly afford his textbooks and is paying his way through college and will likely end up in debt
You got money, you can't save the world. Make sure whatever you study in is solid and you want to study in it, otherwise you can spend your time better than getting a useless degree. 
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Anonymous #3
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #5]
#13178462 - 09/11/10 03:21 AM (2 years, 8 months ago) |
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Quote:
Anonymous #5 said:
Umm... $100 trips to walmart? About twice a day? Sounds about right...
I aint saying that I havent done that too, but never like that.
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Anonymous #1
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #3]
#13179195 - 09/11/10 11:19 AM (2 years, 8 months ago) |
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lmao @ the walmart trips. I think I'm just gonna splurge on my undergrad degree then be jewish besides that. i'll wait for my brain to develop before I do anything crazy. I dont want some real estate bogging me down psychologically right now
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Anonymous #4
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #1]
#13179206 - 09/11/10 11:23 AM (2 years, 8 months ago) |
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Being jewish is the best thing the young you can do for the old you.
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Anonymous #2
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #4]
#13179216 - 09/11/10 11:27 AM (2 years, 8 months ago) |
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go to college if you stay there a yr or 2 and plan on finishing there.. buy a small house by the campus.. they are usually easier to resell.. and u wont lose all that rent money.. if most you will lose a small bit.. if the market keeps dropping
Edited by Anonymous (09/11/10 11:35 AM)
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Anonymous #7
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #2]
#13179232 - 09/11/10 11:32 AM (2 years, 8 months ago) |
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Save your money.
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Anonymous #3
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #1]
#13179408 - 09/11/10 12:37 PM (2 years, 8 months ago) |
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Quote:
Anonymous #1 said:
lmao @ the walmart trips. I think I'm just gonna splurge on my undergrad degree then be jewish besides that. i'll wait for my brain to develop before I do anything crazy. I dont want some real estate bogging me down psychologically right now
That is why you have someone else run your apartment building for you, so you don't have to even think about where that check comes from every month.
Now a restaurant, that would be more hands on and perhaps just a bit more stressful.
Splurging or even considering using that word is the worst thing that you can do.
You will be surprised how fast you can burn through that money.
300k is not really very much money with all things considered.
It is real easy to get used to spending money and living a certain "lifestyle", it is hard to re-adjust when the money runs out.
If you are not going to make any aggressive investments then you are not willing to take control and secure your own financial future, you might as well go to clown college and try to move into upper management at mcdonalds.
It is my guess that you posted here so that you could get the "party it up man" responses and then feel good about blowing your money.
Think about your mother and what she might recommend to do with it.
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Anonymous #6
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #3]
#13179424 - 09/11/10 12:42 PM (2 years, 8 months ago) |
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Quote:
Anonymous #3 said:
It is my guess that you posted here so that you could get the "party it up man" responses and then feel good about blowing your money.
If everyone else thinks it is okay, then it is okay.
 Confirmation bias.
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Anonymous #1
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Re: fuck im really lucky, what is the responsible thing to do? [Re: Anonymous #6]
#13179446 - 09/11/10 12:50 PM (2 years, 8 months ago) |
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Naaaw man im not trying to party it up. I never have more than a few drinks and i stay away from hard drugs besides the occasional roll. I dabble in stocks and watch the market so it's not just sitting on its ass. I have made a few good investments myself in the stock market. I also realize that 300k (after paying for college) really isn't that much in todays world. its a great start for building my own fortune though. I like the idea of buying a house around where I end up at school and reselling it. then I can save cash on room too. #3 I get the impression you overestimate how easy it is to make cash renting out apartments
Edited by Anonymous (09/11/10 12:50 PM)
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