My buddy's grandfather died

[Cigalert]

2 days ago at 74. pretty young IMO. My buddy came by last night just to shoot the breeze. He said he talked with his grandfather 5 days a week for the past 10 years. He tought him how to golf, fish, hunt and was a great life coach, completely admired by my buddy. He was pretty banged up over the whole thing because his death was semi unexpected (just had surgery this past monday). I've known my buddy for a few years and I've heard stories about "old" money, blah blah blah. He then proceeds to let me know he's getting $8.8 million but wishes there was some way of getting later because he would like to grief his grandfather's death and not deal with sorting out stipulations of the will. He knew his grandfather had some cash from investments but didn't think he was in the will at all so he was a bit surprised at both, getting something and then the grand total. He was so sad and so excited all at once. At 26, living in South OC he's been struggling to get ahead. His truck needs work, he's going to school part time and....LIVING AT HOME! His life just changed in so many ways all in 2 days. His buddy is gone but he can now get moving with his life.
What would you do?

[OnlyMoney]

Wow, it's a terrible thing to lose someone you care for so deeply. In this case, it just sounds like grandpa knew who was there for him and he wants to take care of him.
It's amazing how much the grandparents of today can be worth. They were all raised in a different era and learned the hard way that you have to save to play.

[phebus]

My grandfather died, and left me a pocket knife. :rolleyes:
He was a great man, and raised the best woman I've ever known...........miss you mom.

[Baja Big Dog]

What would you do?
What are you asking? Doesn't it seam obvious that he doesnt have much choice.
26, living at home, doesnt sound like he's had much "life" experiences.
Get him set up with a financial advisor, he is gonna need it, or in ten years he will be broke and friendless, Ive seen it before.

[THOR]

Money wont change the grieving at all. I would trade all the money in the world for my family.
That being said, tell your buddy to get in touch with a reputable CFP and go from there. It is a must do.

[Cigalert]

Money wont change the grieving at all. I would trade all the money in the world for my family.
That being said, tell your buddy to get in touch with a reputable CFP and go from there. It is a must do.
Sort of what I was telling him. He said he didn't want to think about the money just yet so I said "then don't until you need to". He was just really taken back by the what the future now holds.
That's a lot of cash for anyone but even worse for someone of that age who technically doesn't have a lot yet. I've had a few friends get a grip of cash for being drafted into sports. No more sports and no more cash now. Must suck to have people recognize you and say "why are you delivering my pizza...did you buy the place?".
What I should have clarified is, he wants to work but with his current financial struggles and going to school he was thinking about quitting his job and focusing on his personal goals. And he wants to be a firefighter no matter what. What type of work would you do if you really didn't need to work?

[Wet Dream]

My grandfather died, and left me a pocket knife. :rolleyes:
He was a great man, and raised the best woman I've ever known...........miss you mom.
Did you use the poket knife on her? ;)
In all honesty, that was a GREAT post, even put a lump in my throat. :(

[djunkie]

What would you do?
I'd give my grandfather the funeral he deserves.........

[djunkie]

My grandfather died, and left me a pocket knife. :rolleyes:
He was a great man, and raised the best woman I've ever known...........miss you mom.
Same here. None of the grandkids got anything from my grandfathers passing and thats perfectly fine with me. I wouldn't trade the memories or the things he taught me for all the money in the world.

[djunkie]

What type of work would you do if you really didn't need to work?
I'd be a longshoreman. :D

[Havasu1986]

I'd be a longshoreman. :D
Why not a shorttimeshoreman. :D

[djunkie]

Why not a shorttimeshoreman. :D
Cause they're the same thing. :D

[vee-driven]

Tell your buddy to put the money in the bank and live off the interest, 8 mill + should provide a good living, and keep him away from the DCB crowb and he should be fine.

[Rexone]

My advice to your buddy like others have said above would be to put the money away, get a good financial adviser to recommend how he invest and spend it, and most importantly resist the temptation to go out and start buying toys and expensive crap, just becasue he can. Many broke former millionaires I'm sure in that category. Most importantly remember his grandfather and what he'd have desired he do with it every time he spends a dollar of it.

[Flyinbowtie]

Money aside, everytime I read something like this I wonder where the world is going.
So many of us don't have a clue what the history these people lived through was, it doesn't seem that nough of us have taken to heart any of the life lessons these people have tried so hard to teach us. The loss of the WWII generation is going to really depreciate the knowledge and character base that this country has.
Based on what has been said here, at 26, it sounds like this guy needs a life coach as badly as he needs a CPA.
I wish him the best. People are gonna be trying to leach off of him and bullshit their way into his good graces every day for the rest of his life, I hope he surrounds himself with the right folks.

[Rexone]

Money aside, everytime I read something like this I wonder where the world is going.
So many of us don't have a clue what the history these people lived through was, it doesn't seem that nough of us have taken to heart any of the life lessons these people have tried so hard to teach us. The loss of the WWII generation is going to really depreciate the knowledge and character base that this country has.
Based on what has been said here, at 26, it sounds like this guy needs a life coach as badly as he needs a CPA.
I wish him the best. People are gonna be trying to leach off of him and bullshit their way into his good graces every day for the rest of his life, I hope he surrounds himself with the right folks.
Well said.
It's amazing how many "friends" suddenly appear around someone who has recent aquired wealth.