The 4-day Work Week

[herzlos]

Good luck! It's going to take time and tears and that's all ok.

[crispy78]

Oh damn, sorry to hear it fella.

[skyth]

Sorry to hear about your loss. I'm in a similar position, where my parents are really wealthy and I'll be set when they pass. I always make sure to mention that I really hope this is WAY in the future whenever I talk about it. I'd rather have my parents around than their money.

[mdgv2]

It is a weird thing. Devastated at Dad’s passing, but that ruthless part of me is pointing out “but in a year, you’ll likely own a place, lock stock and barrel, setting you up for life”.

[mdgv2]

So yeah. Anyway. This news somewhat changes plans for the future, doesn’t it?

New plan is

1. Grieve. Taking as long as it takes
2. With inheritance, buy somewhere nice. Not a fixer upper, but a nip/tuck would do.
3. Pay off all debts
4. Nice holiday
5. Anything left, bung it in the Pension Pot to really work it.
6, With £825 back in my sky rocket each month, increase my pension contributions considerably.

Maybe I will be retiring around 60.

[crispy78]

Jul 11, 2024 8:40:06 GMT -5 skyth said:

Sorry to hear about your loss. I'm in a similar position, where my parents are really wealthy and I'll be set when they pass. I always make sure to mention that I really hope this is WAY in the future whenever I talk about it. I'd rather have my parents around than their money.

Yeah same here. Mine are 82 and 79 and starting to look and act old so, with the best will in the world, it's not going to be much longer in the grand scheme of things.

[semipotentwalrus]

Any age is too soon. Sorry to hear it, take care of yourself.

[herzlos]

Jul 11, 2024 9:08:59 GMT -5 mdgv2 said:

It is a weird thing. Devastated at Dad’s passing, but that ruthless part of me is pointing out “but in a year, you’ll likely own a place, lock stock and barrel, setting you up for life”.

It's definitely conflicting, but natural. In a way it's a shame that life changing inheritances can only come with life changing loss first.

The other thing you probably don't need right now is the inheritance family drama, the money seems to bring the worst out in people and results in all sorts of chaos and arguments. Hopefully that part isn't too bad for you, and you don't have to lose much of it to lawyers since I think you mentioned there was a will that was pretty clear a while ago.

[pacific]

Jul 11, 2024 6:25:01 GMT -5 mdgv2 said:

Well, now I feel a right cunt.

Here’s me in this thread discussing retirement and how inheritance will affect that?

And this morning, Dad went from a heart attack. Sorry. Still processing and the void was right there.

Oh dear I am so sorry to hear that mate, that is awful news. 

Hope you can get with your friends and family and spend the time with them. 

Thoughts with you man.

[mdgv2]

Thankfully Dad’s Will is watertight and both my brother and I know what to expect.

It’s basically a straight 50/50 split, with the only variance that he gets the flat he lives in outright, and I get a matching value from the rest - with whatever remains a clean 50/50.

Guess that means I now need to start sorting some kind of valuation for that flat. Being ombudsman trained, I reckon “get three, go in the middle/mean” is the least argument prone way for that. Unless the low or high are obviously wonky.

[herzlos]

That seems to be how it's done, though getting a proper home report (scotland) or survey valuation may be more watertight should there be any argument.

[mdgv2]

That’s true. Might log in to work briefly tomorrow to check our knowledge database. I don’t know mortgage laws and rules and subtlety, but with the info there, now’s the time to do me a learn.