What to do with inheritance?

[13177]

There are cases like you said but don’t be discouraged or pessimistic. Family education is important, at least you have tried. I think most MCF ppl didn’t regret having children

[Adrianli]

Are you going to tell your wife about the $?

She knows. I have always told her such stuff. But did not tell her any plans for the incoming inheritance. I myself also not have any plans. Only wish to keep it for retirement. How to go about doing it, still clueless.

[13177]

She knows. I have always told her such stuff. But did not tell her any plans for the incoming inheritance. I myself also not have any plans. Only wish to keep it for retirement. How to go about doing it, still clueless.

Insurance agents or financial consultants will tell you to take out portion of your money to invest and grow the money?!   

[Throttle2]

Thanks.

 

Yes, i intend to donate a portion of it to KKH in my late mum's name. She spent her entire working life there as a mid-wife. So hope that it will help any underprivileged kid or family there.

 

I am not sure how to create a trust fund so most probably will be in FD. I am not a financial savy person so i would like to keep in bank and just earn interest.

 

 

And no, i would not be getting any new car. Just spent quite a bit on my current car, so will keep it for a while.

Depends on how much at the end of the day.

You dont need to be very financial savvy

Just be aware always that returns come with corresponding risk

And diversification is truly your only free lunch

[Adrianli]

Depends on how much at the end of the day.

You dont need to be very financial savvy

Just be aware always that returns come with corresponding risk

And diversification is truly your only free lunch

I dont think i will receiving anywhere in 7 digits. Most probably in the low 6 digits amount. I dont have any say, my aunties and uncles will have first bite and the leftover will be passed to us.

 

So you are saying to invest some, keep some and cold storage the rest?

[Kusje]

If her maternal instinct not there, then don't bother.

 

Agreed.

 

Kids or not kids should be discussed before marriage, not after.

[Throttle2]

I dont think i will receiving anywhere in 7 digits. Most probably in the low 6 digits amount. I dont have any say, my aunties and uncles will have first bite and the leftover will be passed to us.

 

So you are saying to invest some, keep some and cold storage the rest?

If low 6 digits.

Just do what you mentioned

Go on a short holiday to enjoy a bit.

Throw in fixed deposit and have a nice meal with your wife every weekend.

Life goes on.

 

Dont think so hard.

Keep it liquid , you never know when you will need a bit of money

Cheers

[Kusje]

She knows. I have always told her such stuff. But did not tell her any plans for the incoming inheritance. I myself also not have any plans. Only wish to keep it for retirement. How to go about doing it, still clueless.

 

Don't take this the wrong way but your wife doesn't seem very financially prudent to me. That's why I asked if she knows 

[Kusje]

I dont think i will receiving anywhere in 7 digits. Most probably in the low 6 digits amount. I dont have any say, my aunties and uncles will have first bite and the leftover will be passed to us.

 

So you are saying to invest some, keep some and cold storage the rest?

 

Diversification probably means to invest in different areas and not all in the same asset class/industry/geographical region.

 

If you are looking to invest,

 

a. Spread out into different countries, don't keep everything in SG

b. Spread into different industries, not everything in tech or whatever. Spread into F&B/O&G/property

c. don't just buy stock, can consider govt bonds (or whatever kinds of bonds) too

 

 

I have no experience wiping tables at all so the above is just my best guess of what T2 means by diversification.

[RadX]

Don't take this the wrong way but your wife doesn't seem very financially prudent to me. That's why I asked if she knows 

 

 

i share your sentiments.

[Adrianli]

Don't take this the wrong way but your wife doesn't seem very financially prudent to me. That's why I asked if she knows

You are not wrong. She spends quite a lot. I am always there reminding her or nagging her. If not, sure have cc debt again.

 

But i will definately share some of my incoming inheritance with her.

[Pocy]

If you haven’t ..... it will begin with getting a solid Rolex from ...... ...... steady boh T2

[Adrianli]

Was also thinking of putting some money into F&B. Have a current naval chef fren. He thinking of quitting the navy and setup a tze char stall. I know nuts about it. But maybe can help him realise his dreams and me having a passive income becoming a silent shareholder.

 

Like that can?

[Mason016]

Was also thinking of putting some money into F&B. Have a current naval chef fren. He thinking of quitting the navy and setup a tze char stall. I know nuts about it. But maybe can help him realise his dreams and me having a passive income becoming a silent shareholder.

 

Like that can?

 

F&B is cut throat.  I would personally stay away.  

[Kusje]

Was also thinking of putting some money into F&B. Have a current naval chef fren. He thinking of quitting the navy and setup a tze char stall. I know nuts about it. But maybe can help him realise his dreams and me having a passive income becoming a silent shareholder.

 

Like that can?

 

Might be a good way to lose your money 

 

I think most people that invest in F&B startups lose their money but that's not to say there's no chance of success.

[SuPerBoRed]

Was also thinking of putting some money into F&B. Have a current naval chef fren. He thinking of quitting the navy and setup a tze char stall. I know nuts about it. But maybe can help him realise his dreams and me having a passive income becoming a silent shareholder.

 

Like that can?

 

as a silent partner..  what is your value add?? 

 

过河拆桥 stories i have heard to many.....  

[Aaronlkl]

Over the weekend, my cousin called my brother to inform him that they will be selling off my grand parents estate and my late mum will receive a portion of it. We are to go and apply for Letter of Administration from the courts to be able to receive the inheritance.

 

Not sure the details yet, dont know how much will be receiving as there are eight sibling. But thinking of it, brings a smile to my face. Hope that it will be a substantial amount.

 

I also hope not to spend all of it away. Hope to keep it for retirement.

 

Anyone been through this?

 

Huat ah!

[Enye]

F&B is cut throat.  I would personally stay away.  

 

elite, it is better if you share what you would personally NOT stay away from