Learning I'll Inherit And My Son Will Be A MillionaireYesterday, at a family meeting, my frugal parents dropped a bombshell. They went to their financial planner and we were informed that after they pass away, their estate will be worth $10M dollars. My brother and I will be millionaires overnight. My parents decided that they didn't want us to wait for that day but wanted to share a small portion of our inheritance early and are giving us $200K. My mortgage and debts will be paid off. I feel like I've won the lottery.
I have always asked the question, what would you do if you won the lottery. Fantasically things like - pay off my debts, go on a world cruise, buy a new car, buy a house, treat my friends to a vacation, were always my answers. I never thought about the emotional aspects. This morning I woke up feeling ripped off. One of my major goals was just taken away from me. My mortgage is paid off. Now what am I susposed to do? I now know my answer to what would happen if I won the lottery. Pay off debts. Set new goals. Get a financial planner.
Another realization hit me also - I can't tell my friends. I told one friend, a friend 10 years younger than me who did not have a mortgage but she knows how much this inheritance means to me giving my son a great start in life but I can't tell the friends who have mortgages. They will congratulate me then think I am bragging about my success or be jealous because of my luck or think anytime I treat them, I am trying to brag or want something in return. They will forget I treated them in the past when I had nothing.
I am very glad for one thing - I inherited a small portion early. Now, when I do inherit the miliions, I'll be ready and as I'll be building my savings in the meantime, when I do tell my friends I'm out of debt, they will have seen my wealth grow over the years and me working hard full time towards new goals so will just think, I did it on my own. In the meantime, I think I'll remain the frugal hieress.