Need financial advice: receiving significant windfall soon

[4matic]

Also, a certified financial planner (certification is by a national organization, not by a government entity) has an ethical obligation to use a fiduciary standard--their advice must be in the best interest of the client,

That's funny. Like I initially said, ANY of the online brokerage firms (and I referenced Schwab) will do initial consultation for free and then you can auto-invest at low fees or choose something else. You don't need some individual with a strip mall office for help.

[irul&ublo]

All financial advisors are conflicted.

No. You can find a fee based advisor who does not get paid per transaction, but on a % of the portfolio. Also, one who is independent, not NY Life, Mutual of Omaha etc.

Long term care is something to look into.

Ditto on the umbrella policy.

You need tax planning. Paying off debt, especially home interest, may not be the best thing.

Stay away from annuities and anyone who recommends them.

As for charitable giving, if you send digitaldeath a few hunsky, he can move out of his mom's basement

[irul&ublo]

Commission-based advisors are conflicted because they “seek investments that pay higher sales commissions, and trade the portfolio to generate additional revenues.”

Asset-based fee advisors “are unlikely to recommend actions [such as placing money in a fixed annuity] that reduce the amount of assets” they manage and “feel pressure to take action, to justify the ongoing nature of their fees” leading to ‘turnover rates on their portfolios…even higher than those of traditional, commission-based advisors.’”

The conclusion is that because “[r]evenues motivate behaviors” conflicts of interest are inherent in all investment recommendations and that “the informed client” should be aware of the self-serving motivation entailed in them.

If you are in a long term horizon, not wanting to take action which would reduce asset value is not a conflict. You address that by establishing a risk tolerance.

[Benny Profane]

Try every drug known to mankind. Bang every chick on all ends of every spectrum. When you've reached full delusion and disillusionment crash your houseboat through Glen Canyon Dam.

Hayduke lives!

And then wind up in a trailer park in Florida hustling golf.

[AK47bp]

Fkn jerk my dick thread

Fuck u alias beetch


Spend it on heli skiing or you're nothing

Agree on all points.

[Name Redacted]

Take a year sabbatical and wait for the market to crash. Invest at the bottom. Profit.

[digitaldeath]

Jesus Christ lindahl. You fucking professor

What did you write 5 paragraphs on money maximization

[BmillsSkier]

Has anyone mentioned the benefits of fractional ownership?

[Timberridge]

Put it all in the Quincy Jones ETF (Ticker: QJ)

The Quincy Jones Streaming Music, Media & Entertainment ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, track the performance of the Quincy Jones Streaming Music, Media & Entertainment Index (the “Index”).

[Grape_Ape]

Full Bunny is really the only viable option offered here.

[Bobby Stainless]

Here's some serious, real financial advice, from a not-very-good movie:

Gospel

Invest in warehouse space and/or marijuana crops in Nevada, then quit job.

[Brock Landers]

And then wind up in a trailer park in Florida hustling golf.

And then call yourself a local

[Benny Profane]

Everyone's a local in Heaven's waiting room.

[Benny Profane]

Full Bunny is really the only viable option offered here.

Works for me!

[_Alias_Windfall]

Thank you to those who provided advice.

Amount of coin coming my way was adequately described in the original post. Definitely not enough to retire on whatsoever, but enough to make some significant changes in my situation. Talking about money is hard and everyone says 'go talk to an adviser' rather than talking to long term friends because money can create jealously. I know it's true, but fuck that. My friends are my friends and I like talking to them. I trust them more in so many more situations with things much larger than a sum of money and I hate that it has to be done through a bullshit alias on the internet.

I'll probably let this thread live for another 24 hours or so before killing it off. This kind of talk does bring out the worst in some; though I am being inspired to start a scholarship fund to send DD to culinary school. He'd probably relax if he stopped eating boiled shoe leather.

[TAFKALVS]

Buy a Land Rover, Lifted Tacoma or Jeep Wrangler Unlimited.

Move to a mountain town.

Buy a house at 2x market value.

Open a business that isn't needed, rarely profitable and makes you popular with other rich white out of towners. (I would suggest a vegan resturant, boutique ski company or yoga studio.) Any time your business is busy and profitable, complain about it cutting into your work-life balance.

Float business with cashpile for 18-24 months, all the while attending local business roundtables telling the long term business owners how they're doing it wrong.

Close business and blame other people. ("The community isn't ready for what we're trying to do.")

Use connections with other rich white people in town to get hired helping them run their companies into the ground too.

Decide xyz mountain is "crowded" "played out" "inauthentic" and sell your house.

Move to new mountain town and repeat process.

[Brock Landers]

you don't need culinary school to cook French fries. Ask Blurred.

good luck with whatever you do, im sure whatever you decide will be thought out, make sense, and have some input from those who you trust

[Benny Profane]

Buy a Land Rover, Lifted Tacoma or Jeep Wrangler Unlimited.

Move to a mountain town.

Buy a house at 2x market value.

Open a business that isn't needed, rarely profitable and makes you popular with other rich white out of towners. (I would suggest a vegan resturant, boutique ski company or yoga studio.) Any time your business is busy and profitable, complain about it cutting into your work-life balance.

Float business with cashpile for 18-24 months, all the while attending local business roundtables telling the long term business owners how they're doing it wrong.

Close business and blame other people. ("The community isn't ready for what we're trying to do.")

Use connections with other rich white people in town to get hired helping them run their companies into the ground too.

Decide xyz mountain is "crowded" "played out" "inauthentic" and sell your house.

Move to new mountain town and repeat process.

You forgot about the yoga obsession.

Sent from my SM-G900V using TGR Forums mobile app

[ill-advised strategy]

Worth considering the ability to actually retire someplace very cheap...Mexico or Chile or whatever.

Also, consider what a financial adviser is capable of learning/knowing that you're incapable of learning/knowing. Can you bridge that gap? Are you willing to bridge that gap? With the internet it's a golden age for self-education. Maybe the odds of you fucking up and doing poorly are just about the same as some financial adviser fucking up and doing poorly + the odds of some financial adviser being shady and dicking you over.

[skiing-in-jackson]

Buy a Land Rover, Lifted Tacoma or Jeep Wrangler Unlimited.

Move to a mountain town.

Buy a house at 2x market value.

Open a business that isn't needed, rarely profitable and makes you popular with other rich white out of towners. (I would suggest a vegan resturant, boutique ski company or yoga studio.) Any time your business is busy and profitable, complain about it cutting into your work-life balance.

Float business with cashpile for 18-24 months, all the while attending local business roundtables telling the long term business owners how they're doing it wrong.

Close business and blame other people. ("The community isn't ready for what we're trying to do.")

Use connections with other rich white people in town to get hired helping them run their companies into the ground too.

Decide xyz mountain is "crowded" "played out" "inauthentic" and sell your house.

Move to new mountain town and repeat process.

Holy Shit!

You have detailed files on the inner workings of Jackson Hole. Your entire post should be engraved in bronze.

[_Alias_Windfall]

Also, consider what a financial adviser is capable of learning/knowing that you're incapable of learning/knowing. Can you bridge that gap? Are you willing to bridge that gap? With the internet it's a golden age for self-education. Maybe the odds of you fucking up and doing poorly are just about the same as some financial adviser fucking up and doing poorly + the odds of some financial adviser being shady and dicking you over.

Why do you think I'm here? Not truly interested in moving, family is rooted here for the next decade minimum, and I don't want to/can't afford to quit working.

Also, the irony of someone called ill-advised strategy posting in this thread is pretty fantastic.

[digitaldeath]

fuck the op and his money problems

[406]

buy a nice place somewhere you and others want to visit several times a year and rent it ~3 weeks a month. Being a land lord has lots of tax write offs, example: The travel to inspect property.

Or buy a ton of land and raise bison.

Seems like a bad idea to put a bunch of money in the stock market at record highs.

[Timberridge]

Also, the irony of someone called ill-advised strategy posting in this thread is pretty fantastic.

Blow it out your ass. You do realize that most of us are not our aliases?

Ill Advised is a 72 yr old grandmother from Eau Claire. Her husband died in '97 and left a sizable estate, which unfortunately ended up in probate because he had no will. Her advice may be free, but comes from experience.

[4matic]

buy a nice place somewhere you and others want to visit several times a year and rent it ~3 weeks a month. Being a land lord has lots of tax write offs, example: The travel to inspect property.

Or buy a ton of land and raise bison.

Seems like a bad idea to put a bunch of money in the stock market at record highs.

Real estate is at all time highs. Just as vulnerable as equities.