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I inherited 120k from my father and have a somewhat very low

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I inherited 120k from my father and have a somewhat very low cost of living. Would it be worth it to basically live off of it during my whole 20s? Rent is 275$ a month, food is below 60$ a week. I basically spend 10k a year at most.

Is the freedom+youth worth it compared to less ease in my 30+ years?
>>
>>966273
> food is below 60$ a week.
Are you implying that's not a lot? Because that's quite a bit.

tbqfwy you should just invest it. If you follow your plan... what are you going to do AFTER your 20s?

Are you in school? Are you employed?

If you don't care about any of that, then sure. Waste that money and live NEET for the next 12 years.
>>
>>966273
Fuck no, the point of youth is to do fun things. If you're spending 10k per year you're not enjoying your youth anyways.

Buy a house in your neighborhood, invest half of the remainder, use the other half for a vacation or expenses for a bit, get back to work.
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>>966273
Put the money into a variable annuity and collect partial interest every month. The best thing to do is keep on living like you never got it. Your 30, 40, and 50 year old self will thank you.

>>966286
>Buy a house

Old retard please go
>>
OP, invest it all and live on the dividends. You have just about enough to do so, and keep your original money.

>>966286
> you must use drugs, alcohol and hookers to have fun
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>>966273
I don't know why this dude looks so sad. That chocolate cake looks delicious!
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>>966293
I'm currently getting 4.5% on 35k in a CELI (canadafag) and 1% on the rest, which is terrible but liquid. Would it be a good time to go in the market or is it risky? I keep seeing markets are going to crash in the news but what do they/I know.
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>>966330
Fuck crashes and all those speculator fags. Go read up on Candian Couch Potato portfolio. 3 funds that are basically safe as fuck. Buy and hold for 40 years.
>>
It's less enjoyable to not work than it is to work 20 hours a week, for a couple of reasons:

1. Your confidence and social standing is better if you're not unemployed

2. Going to work every couple of days keeps you active and socializing. It gives you a sense of movement which will translate over to your free time.
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>>966273
Spend all the money in your 20's OP. When you are above 30 you will have a good wage and can live off that but you need to have fun when you are young or you will never be able to have real fun
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>>966273
Just don't be some useless fuck when you're 30. You should probably go to community college -> maybe University.

Then, use skills acquired to turn a hobby into income while living off the money.

Being a NEET will not be a good use of that money. You need to use the freedom for a better future.
>>
>>966293
>money is only for drugs, alcohol, and hookers

Maybe anon wants a huge book collection, maybe he likes to travel, maybe he's into paintball or dirt biking or go karts or fucking bar hopping. The point of money is to buy what you want, not to be a bitch. You should invest a majority responsible and then buy what you want with the rest.
>>
The first thing I would do with that money is buy a house ,and I'd still work full time ,you need to think of the future ,once that money has gone your back at square 1 and have to go to work,depends if you want to live now and work later or the other way around I guess,once you get a house paid off you can pretty much semi retire anyway.
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>>966377
I deeply love game dev and trying to get good at art so I would probably get a course to help me in my weaker areas of knowledge. I can't believe after almost 10 years of working on that I wouldn't be somewhat good enough to get money off of it.

Thing is, I will graduate from a masters in finance soon and the job market scares me a little. I love having so much time/freedom as a research student and no job really seems catpivating to me in finance. It all looks like slave work.
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>>966292
>Put the money into a variable annuity
>Recommending a insurance-based investment, ever
Shut up.
Shut up.
Shut up.
Shut up.
>>
>>966273
You deserve the living hell you are headed towards.
>>
>>966379
I'm sure anon wants 7 new bookshelves for all the books he wants to buy.
>>
>>966286
>If you're spending 10k per year you're not enjoying your youth
wew lad

>buy a house
thanks dad
>>
>>966273
put it in an IRA or you will regret it.
>>
>>966293
120k most certainly ISN'T enough to live on with current yields.

As to OP: you could live for quite a while on those 120k, but the problem is what will you do afterwards? I would look into investing it, then working and investing more until you can live off it.

Besides this concept is called FIRE (Financial Independence, Retire Early), and basically the number one way to do it is have low expenses. Look into Mister Money Mustache or maybe the financial independence reddit board. Plenty of resources out there.
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>>966452
They do make sense for people who already mad maximum contributions to a retirement account.
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>>966526
Exactly, if he really does spend 10k/yr he's really close to retirement, he only needs 250k. 120 in the market alone (on average) would meet that in 15 years. Throw in a high savings rate and he's laughing forever.
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>>966273
Well that other guy is not totally wrong. Depending on the housing market, you could buy a foreclosed house and rent it out. That would give you some decent income and would more than cover your food/rent. You could then put the rest in maintenance and whatnot.

As for whatever you don't spend on the house, you could do a lot of things with it.
>>
Dividend reinvestment
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>>966538
I wouldn't do that. Stick to the dichotomy of stocks for growth and bonds for cash on hand, but don't try to cut corners with dividend stocks. Those companies have no obligation to pay dividends, whereas bonds are much more secure (though can also be defaulted upon)
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>>966527
No they don't, in most cases. The fees, coupled with the shitty terms inserted by the underwriter, usually outweigh the tax benefits.

Not to mention, inheritances aren't taxable to the recipient. So putting the money in ANY form of pre-tax tax shelter is retarded.
>>
$10k/year
That certainly isn't bad by any means but it isn't "very low cost of living". Learn to cook, get cheap and healthy food (e.g. bananas), and you can cut your food bill in half.

Regardless, $120k is peanuts in the context of financial independence, you would need at a minimum $500k to comfortably live at your cost of living (and don't forget things like health insurance, emergencies, and other unpredictable costs).
>>
If you leave the USA and move to a cheaper country, you could use this money to retire.
I know for a fact that you can retire in Brazil today with that much cash.
>>
>>966604
Just read that you live in a tub of maple syrup. Scratch the health insurance bit. Either way, go read some FIRE blogs if you really want to retire early. Honestly though, the best way to achieve financial independence is to earn and save very aggressively (make more than $100k/year, save more than 80% of post-tax income in low cost index funds).
>>
>>966286
This is fucking horrible advice
>>
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You should buy a small patch of land somewhere and build a tiny house on it and retire. In the USA you can get a quarter acre of land on Matagorda Island for $2,500 (or half acre for $5,000) and build anywhere you want. A bunch of people have land out there and there's a guy that did it and he retired there. Bay on one side, gulf on the other. Build a deck and pickup stuff that washes up on shore and decorate with it. Old rope, corks, buoys, nets, etc. Fish all day, cook what you catch. Camp fire every evening. Most people use solar/generator/wind power so no electric bill. You can get a desalination setup for water or drill a well. Burry a tank for sewage, your all set. All you need to retire is to be able to feed yourself until you die so it would be pretty easy with the free fish.
>>
>>966273
>the freedom+youth worth it compared to less ease in my 30+ years?

And what exactly are you going to do off $10k/yr?

Shitpost on 4chan all day and play videogames? You'll get bored, it's retarded
>>
>>966734
I spent the last 9 years doing this, and I am yet to be bored, so, no.
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>>966739
>I spent the last 9 years doing this, and I am yet to be bored, so, no.

Nah you're probably bored, just used to it so you don't want to change now.
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Fuck 1% think long term

Buy some land
Put on the land 2 nice trailer houses or small houses on stilts because they are cheaper to build.
Rent out the houses
$2k month income every month
5 years you get your money back
For the next 50 years of your life you'll get 2k a month every month until you die
>>
>>966750
>For the next 50 years of your life you'll get 2k a month every month until you die

Wow! $24k/yr pre-tax!!!

What an amazing sum of money, BE CAREFUL DON'T SPEND IT ALL IN ONE SPOT
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>>966745
You are projecting.
I am 26 and I still tremble with joy and excitement playing video games.
I even manage to insert my pee-pee on crazy hoes from time to time, and I am free to learn about all kinds of stupid shit with my free time.
I am 100% ok with my life, you are just trying to force the wageslave lifestyle.

>>966753
If you leave the USA, you can have a great lifestyle with $2K/month.
>>
>>966753
You can easily live off of that amount if you're not a consumer whore.
>>
>>966754
>I am 26 and I still tremble with joy and excitement playing video games.

That's pretty pathetic, do you still live with your parents at 26? Do you ever plan on moving out or will you always be a videogame-playing manchild?

>If you leave the USA, you can have a great lifestyle with $2K/month.

You by definition cannot have a great lifestyle in a third world country. That's why people try to leave these places when they can, because it's dangerous, unclean and doesn't have the luxuries of civilized countries.
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>>966760
>calling other manchilds
>using outdated classifications
>probably never lived outside of his home state
Project moar, plox.
>>
>>966760
>le US is a third-world country meme xD
I bet you live in some scandinavian socialist shithole
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>>966761
What are you talking about?

You are a manchild if you still live with your parents at 26 and play videogames.

And third world countries are dangerous and shitty, that's why they're called third world countries.
>>
>>966763
>Reading comprehension
>>
>>966764
Please, underage-kun, tell me more about the world and all that they taught you in murrica.
>>
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>>966753
That's $1,200,000 over his life with only $120k investment.

That's literally 1000% return on investment.

Nothing else will get you close besides rental property. It's the only thing to do with that kind of money.
>>
>>966769
What do you know about the world?

You live with your parents and play videogames in your room all day. Why are you trying to pretend you know anything about the world when you haven't been outside of your room?
>>
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Here are plans for a cheap 900sq ft house to get you started

http://www.eplans.com/house-plans/epl/collections/affordable-homes/hwepl76982.html
>>
>>966734
>>966739
I love to learn about game development and in turn this forces me to learn about art, coding, making music, etc.

I have work for life if I want to even try to master these things. All I need is the internet.
>>
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>>966771
I know nothing, senpai, tell me how it works so I might learn!
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>>966775
>I love to learn about game development

What have you developed so far?

Game development makes next to money, especially by yourself. It's extremely saturated and there's groups of developers that churn out games and not even for all that much.
>>
>>966775
That is the spirit. Go light on the music, though, if you had no real music experience before 12, you will only master the basics.
CG is the kind of thing that you can learn at any age, just need some dedication, but while becoming proficient at using narrative structures is simple, mastering it requires great creativity/talent.
>>
>>966780
I'd rather keep my anon status right now if that's ok.

I'm still learning a lot but I've been told I have potential by quite a few anons on here. Of course that doesn't mean I'll make bank but I would hope to. My game ideas are pretty good (as in they sell themselves) but I still miss time and knowledge to make them great projects. I've had a couple thousand plays for one of them.

Just look at LISA and Undertale. Small scale, efficient projects that get the point across. It's all about working smarter not harder imo.
>>
>>966785
If you can find four trustworthy people that share your passion, you can start to make some shekels.
Just have a plan B in place (even if it is working for the man). I got pretty fucked up for not having one when I started.
>>
>>966273
invest or go to school. use it to better your position so you can enjoy the majority of your life more.
>>
I was also wondering about the right thing to do with my GF.

I truly love her (5 years going strong) and we're going to live together soon. Are we expected to pay things compared to our %income/total household income? What's the best way to deal with the couple money when she's working and saving normally while I start with a shitton of savings. and work too?
>>
Are you in your early 20s? If so, find a way to invest it and leave it alone. Compound interest is meh when you start at 40, good when you start at 30, and amazing when you start at 20.
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>>966799
what kind of portfolio should I look for? I think I'm something like 35-40% stocks and the rest in bonds right now. Just some premade shit at the bank. I'm only getting 4-5% though. Should I fuck off and get another bank?
>>
>>966801
all in bitcoin, it's certain to hit $10k in 2 years
>>
>>966798
Don't tell her about your money fgt.
>>
>>966804
Kek
>>
>>966519
And that New Lamborghini!
>>
>>966801
my opinion invest more in stocks
>>
>>966750
>>966770
>>966773
This

Rent is great as passive income so you won't need to work or do anything, just collect a check. Once it's set up there's no working or anything to keep the money flowing.
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>>966828
>Rent is great as passive income so you won't need to work or do anything, just collect a check

>Maintenance
>Chasing tenants if they don't pay up
>Fixing shit if it breaks
>Meeting with tenants and showing them the place
>>
>>966785
I don't think it's even "work smarter not harder", it's just a marketing industry. You just need to understand trends and develop accordingly. All these neckbearded developers think that if they make some game with overcomplicated mechanics and insanely detailed graphics that they'll make money, but nobody actually wants to play their game. (relevant video: https://www.youtube.com/watch?v=Q4F-zdpFb9I )

If you made a standalone idle game after cookie clicker came out, you would be rolling in $$. Agar.io might be worth copying.
>>
>>966832
exactly

I'd do it if I wasn't absolute shit at fixing shit
>>
>>966843
You pay people to fix stuff. Call a plumber or whatever. You don't do shit. Or if you're a cool landlord and your tenant knows what he's doing you can let him fix it an take it off his rent.
>>
>your tenant knows what he's doing you can let him fix it an take it off his rent.

Top kek

Clearly you have never landlorded
>>
>>966801

Nigga that would be good if youre 40.

If youre young you can take on more risk in higher growth small caps with all ranges of stock indexes at like 75%-80% of your portfloio. Just Do not sell when the market tanks throughout your lifetime... Ride it all out
>>
>>966864
yeah, I'm kind of a pussy but I think I'll do it.
>>
>>966864
>>966821
what's a decent rate I should expect from my bank?
>>
>>966869

Rate on what?
>>
>>966879
my money in their portfolios
>>
>>966273
why live off of 120k for a decade when you can achieve so much more? do this:

>open a forex account
>put all 120k into it
>trade at a 200:1 leverage
>you now have $24,000,000 dollars of trading power
>buy 24 million bucks worth of japanese yen
>wait a little bit
>sell
>you've now turned 120k into 360k
>now you can live off your money and not have to worry til your 50s

you gotta think big buddy!
>>
Been there. Done that. I had the equivalent sum when I were 19. I am broke now though.

That said.
1. Yes, it is very doable.
2. Don't be a NEET. Educate yourself or work. I had the money. I had no money management skills.
3. Don't tell your friends anything. Get a good coverstory.
4. Spend time learning about the real value of money. IE if a condo costs 120K where you live you might believe you are poor. I guess you are cool though since you have already estimated your living costs to be 10K
>>
>>966930
can you expand on that real value of money thing please? What would be the pros of spending most of my money into an illiquid asset such as a home? I get that I won't have to make payments for a long time but wouldn't having the liquidity be better?
>>
Dont forget to become a drug dealer.
>>
>>967891
>Dont forget to become a drug dealer.

This. If you invest $120k into drugs you could probably turn a mean profit buying so much in bulk.
>>
>>966273
don't do anything with the money
take a month off
spend the first day developing 1 goal
spend the rest of the month getting as little sleep as you can manage and grinding that goal away ( making your first game? ) and spend the money you require for sustenance

go to 1 social event a week in your industry of choice ( there are various social groups for coding, design, etc in your city likely ; if there aren't consider moving with your money after the initial month )

if you can't finish the project in a month of grinding and you can't commit 1 month of your life to the project then invest the money in stock with dividends - don't touch it unless you have health issues

DO NOT REMOVE IT BY PORTION OR IT WILL BE GONE IN A DECADE
>>
>>966889
this isn't bad advice... the yen is fukt forever

that being said the won will float in the next decade... so you could definitely achieve a bigger payout simply by owning the currency for that long
>>
>>966273
Short answer: No.

Long answer: NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO you idiot you won't come across money like this again are you fucking for real.

Freedom+youth isn't worth it compared to less ease in 30+ years holy shit.
>>
>>966273
Buy some stocks and re-invest the dividends. by the time you're 40, you'll be a millionaire. A good investment is something without much risk, like bank stocks, since they grow gradually and there isn't much risk involved.

http://www.hughcalc.org/drip.php
>>
>>966273
In what shit country do you live where you can inherit debt?

That isn't legal, get the authorities involved.
>>
>>967985
Nvm I read it wrong posting at 7 am can do some funky stuff.
>>966273
Get a job and work. It will make for easy retirement and stuff will be easier overall in your life.
>>
>>967986
If I had inherited like 20 millions I'd just keep the same lifestyle but not work. I'd just learn all the arts and craft that come with making video games (which is pretty much everything). Can you imagine a life where all you do is sleep, eat and then learn about arts and writing and music and how to better your creative abilities?

My goal is to have enough money to sustain myself and phase out the eventual job I'll have in order to maximize my free time to create and pursue my dream of making video games. That lifestyle would be absolute gold.

But yeah I guess I'll just work like I would've normally done without that money and have it easy.

I'd really like for you guys to talk about the girlfriend issue. On one hand I don't want to just go "bitch back off it's my money" but I also don't want her to believe she can have a higher standard of living (supported by me) just because I happen to have a lot of cash. My gf is not crazy and she's not with me for the money, but I know these kinds of conversations will come up eventually.
>>
>>967989
If I got 20 million I would just drop studying and focus on sporting (swimming) full time and aim at a medal.

Just with 3 million I could comfortably do whatever I want the rest of my life.

Funnily I knew a guy who was about 19 years old, inherited a lot from his dead mother and was developping his own game himself. He lived in Arizona then he later moved to Californea he could pay for it by himself lol. He got early out of high school thought he was 16 (he skipped a few classes). He also had a very good looking girlfriend that was really innocent and sweet he knew her from young age. Rather jealous how some people seem to hit jackpot with some things in life.

As for getting into programming and video games I would do a CS degree, but I hate programming myself. I do a hybird degree (business and cs since I thought at the time that IT is very important nowdays in business positions). I don't like programming subjects at all.
>>
>>967989
For the girlfriend part:

The most important thing is to know that she stays faithful. The second most important thing is that you are emotionally compatible so it keeps fighting to a low and so you both keep interest in the relationship. After this you should start looking at the job of your partner and the expenses.

Sure if she eats away your budget it can overshadow the first two points, but everything considered career choice shouldn't really be your number #1 priority when looking for a soulmate. If you retire you want to spend it on fun stuff, instead of just being lonely driving a BMW around ocassionally. While most of your retirement you sit alone, exercise ocassionally and basically live like a 21 year old student on a study break.

The hardest problem I have myself is finding someone who fits both point 1 & 2. It is hard as fuck to even get those 2 right let alone the third point.

This pretty much sums up how I feel regarding partner choices.
>>
>>968000
I think in the end we'll pretty much have the same salary. She's a teacher in high school and I'm gonna be in finance next year (no idea where or what, maybe sales as it seems motivating/interesting in a way). What I really worry is how to handle the "hey I'm sitting on this huge pile of money and not you".

In the case of a big purchase like a house, would it be wise to basically have her save enough so we can both buy it together 50/50? I've heard stories of chicks living with richs faggots who would buy a house alone with 100% ownership, break up after some time and then the chick would be left with no asset at all.

I wouldn't want that for her (not anywhere near that kind of situation but I want her to always be stable financially if something was to happen).
>>
>>967998
>>967998
I can already make games. The problem is just getting good at art and having the time to make the assets and everything.

Coding is the least of my worries. There's so many tutorials and it's just so straightforward. I knew nothing about it a year ago and already I made quite a few projects.

Wanna learn how to make a dope menu? "unity menu tutorial"
Want to make a some RTS-like with AI? "Unity AI tutorial"
Inventory? saving/loading system? leveling? It's all really simple and although you do need to keep your scale small when working by yourself, a little bit of practice and planning will go a long way for any kind of project.

Seriously, if you want to make games, nothing is stopping you, no matter how helpless you are. Go on unity's website and pick up one of the big tutorial project on the asset store and just do these until you start to get it. Then try to make one of your ideas come true and go back to the tutorials when needed and keep going from there.

Just need time and dedication. It's literally easier than learning to draw or make music for me.
>>
>>966519
HERE IN MY GARAGE
>>
>>966798
What ever you do, don't get married
>>
>>966881
Banks in nz will give you 8% average rate since inception on their growth portfolios, with about 1.4% fees, so about 6.6%. Don't know about other countries
>>
>>966799
>>966801
you need 100% stocks and to leave it alone for literally 30+ years to get phenomenal growth.

this means that you cannot be a retard and sell if your 120k turns into 100k worth of stocks and everyone in the news is talking about 'a huge financial downtown'.

the fact that you are asking these questions makes me pretty sure that you are going to end up doing the wrong thing. sorry man.

just do a lot of reading if you can. read whatever the bogleheads wiki advises
>>
http://strawpoll.me/6065606/
/biz/
fags
>>
>>966273
I don't get how rent can be that cheap that's cheaper than the lumber to build it
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