• Tips On What To Do With Inherited Money

    Date: 2017.05.17 | Category: Property Management | Tags:

    If you’ve just inherited a significant amount of money, chances are that all the options and things to do, and that you can do, might be making your head spin. Read the following tips given by our experts to stop the confusion, and give your thoughts a new direction and purpose…!

    Take a second; think it through

    Hold up. Stop right where you are and take a breath. One of the biggest mistakes that many people make in situations like this, is getting overly excited and being hasty in making decisions. That has proven to be a disaster time and time again. Whether you want to make a property investment, blow it on “something you’ve always wanted”, or lavish your money on your loved ones; take a moment to think it through. In fact, we say take a few calming months to think it through! We know that can be hard to do; especially if you’re living pretty much “hand to mouth”–but it’s the right thing to do.

    Pay attention on the now; and then on the future

    It’s vital that, in certain ways, you pay attention to the now, before you pay attention to the future. Take care of pressing matters of today, like student loans (or even other smaller loans) before thinking of anything else. This alone can make you feel lighter, and help you plan better for the future. As for the future, you can save the money for your (future) children, invest on part of your retirement (like buying an overseas property Hong Kong for sale), or even simply save it for a rainy day. Your options are many.

    Has anyone gotten poor giving charity?

    Regardless to whether your inherited sum is large enough to make you feel rich or quite small that it changes nothing in your life, one thing you can surely do is give a certain percentage of it for charity. And this is also regardless to whether you consider yourself a religious person or not. Find a good charity foundation, start one of your own, or even do something in a much smaller scale. If you’re afraid people will judge you for how much or how little you do; hold your good deed close to your heart and do so anonymously.

    Live a little today too

    It’s brilliant that you’ve gotten rid of your problems of today, and that you’ve thought of the future. But have you thought of what you can do with the money for today? Allocate a significant amount of your inherited money simply for splurging on what makes you happy. Listen to your heart’s desires, and for once, spend on those. Live a little today. What you waste on with joy can never be considered a waste…!