“When You Inherit a Lot of Money”
It has been a few years since we have spoken and you may be the only person that we trust enough to discuss our current situation. By the way, all is good with Bill and our children. Both kids are actually in college, believe it or not.
Here is the situation, I have inherited a large amount of money, actually over a million dollars and we want to be smart with how and what we do with the money.
The only real obligation we have is our current mortgage which is just under $600,000. The loan you originally got for us was $750,000 and making our mortgage payment is no issue.
Now that we have these funds, we have always wanted to purchase a beach house, which we can do at this point. We anticipate a purchase between $900,000 and 1 million, we can easily put down 25% and still have a million dollars’ worth of investments. Our income has steadily increased, last year it was $525,000, so qualifying won’t be an issue. Am I making sense? Let me know what the next steps are. Jerri
Taking advantage of opportunities when they come your way. These folks have spoken about a beach house for a number of years, the opportunity just presented itself a little sooner. They now can feel comfortable, that now is the right time for them.