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What do I do with all this money? Watch

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    (Original post by DentPrincess)
    What would you do if you knew in the future one day you would be left with 2 million, 7 properties, and a business (not the type of business that you don't want to run or will be able to as you will be dedicating the next 5 years of your life to studying dentistry)

    If that were your situation what would you do? Would you start a business? Invest? In what? Any ideas that you would turn into a reality if you had the means?
    rent the properties out
    sell the business
    and invest half the cash (silver, gold, maybe a diamond or two and some land or a company that would be run externally ) and go wild with half (with my tastes I'd be off around the watch stores and jewellers maybe a couple of used cars and some good branded stuff and a few bottles of crystal head, pappy van winkle and chateau d'yquem maybe some cristal too)
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    (Original post by A-LJLB)
    I guess it was just the fact you felt the need to specify "2 million" and "7 properties" rather than just saying "I'll have a large sum of money and some properties along with a business". This forum probably isn't the best place for you to get advice anyway.
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    (Original post by DentPrincess)
    Tbh I dont want a business, investments are probs the best way to go for me, or open a club, and yes i know that's not what I was planning to do anyways lol and i had no idea inheritance tax existed! I hate tax with a passion.
    With this level of naivety, managing the assets wouldn't be a long-term problem. I'm out.
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    Nothing mate, I'd just live off the money comfortably
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    (Original post by DrSocSciences)
    With this level of naivety, managing the assets wouldn't be a long-term problem. I'm out.
    Nail. Head.

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    You could always toss a few grand my way if you were struggling for ideas on who to give it too
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    I'm a Saudi prince who owns many palaces, send me your money to invest in my racing camels and I'll make you rich beyond your wildest dreams
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    Keep all the properties and rent them out. This income will fund your education. Pay off all debt straight away to ensure the crippling interest rate of 1% does not kill you. If you believe the business is actually valuable go and look for some investors and the stake holders will somehow make this profitable.

    Next i probably wouldn't go on a student forum and gloat.

    (Original post by DentPrincess)
    What would you do if you knew in the future one day you would be left with 2 million, 7 properties, and a business (not the type of business that you don't want to run or will be able to as you will be dedicating the next 5 years of your life to studying dentistry)

    If that were your situation what would you do? Would you start a business? Invest? In what? Any ideas that you would turn into a reality if you had the means?
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    Rent out the properties. (Keep one to live in or buy a new one if there's none in the correct location)
    That gives a steady income. Depending on the business and how it's doing, I'd either sell it or hire someone else to run it.
    Then invest all except for £1000-£2000 so I have something to start off my studies with. Pay rent and tuition out of the rented properties income, possibly get a job to pay for food and going out.
 
 
 
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