

Ask HN: 23yrs old. About to inherit. What would you do? - 23dev

I'm a developer living in a major city in the US. The sum of inheritance is really small in the scheme of things (35k) - but I've never seen that kind of money in a lump sum before. I work at a startup making 75k. What would you do?
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PonyGumbo
It's a good opportunity to pay off debt, if you have any.

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jpluscplusm
Yes, of course. Debt before savings.

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HockeyPlayer
You don't need a financial advisor. Pay off any credit card or other high
interest debt (and don't run up more).

Put the rest in a Vanguard Total Stock Market index fund, and setup automatic
payment of $100 from your savings account to add to the lump.

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jpluscplusm
3.5mil? Do something interesting.

350k? Splash out on one or two fun or lavish things and put the rest into
savings/etc.

35k? Put it into savings.

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ericb
It might make a nice down payment for a house if that is something that
interests you. Paying off debt is a great suggestion assuming you have some.

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byoung2
Definitely talk to a financial advisor, but most likely he/she will tell you
to start by paying off any high-interest debt, put some in savings, and invest
the rest. It doesn't make sense to put that money in an investment earning
1-5% while you have a credit card at 13% and a car loan at 7%.

EDIT: What's with the downvotes without comment? Is it unreasonable to suggest
that someone should pay off debt before investing?

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diederikm
Savings, a.k.a walk away money

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23dev
Thankfully no debt to speak of. Saving it is I guess.

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zitterbewegung
Talk to a financial advisor?

