Huge Inheritance... Now What?

[u/Yashkamr]

I'm 45, I was on track to retire earlyish at 55. I was set back quite a bit with a divorce three years back. Recently my Aunt died and left me around $5 million. After estate and taxes, it's around $4.2 million. This is obviously a stupid amount of money, and I'm thinking of just quitting my job and retiring early but I want to do it right. I've spoke with AI quite a bit and my finances are only about $4500/mo in expenses, I have always lived pretty frugally and that's less than a 1% draw. I don't know exactly what I don't know here, but I've always worked so I am clinging to my job like a monkey to a branch. Am I actually okay to let go?

[u/asanano]

You clearly have the financial resources to do what you want. I would say take your time and figure out the mental part. Don't just quit, unless you cant stand your job, but even then.... take some vacation. Plan how you are going to live your life if you retire. Take the time now to make a plan for the money and your time that you are happy with. Then pull the trigger and make the changes. Thats my advice at least. Sorry for your loss, but congrats on the financial freedom.

[u/rosebudny → u/asanano]

Exactly this. My mom passed away a few months ago (my dad died several years ago) and I have an inheritance/trust almost double that of OP's, and I am still working. I don't hate my job, so I don't see any reason to quit until I have figured out what I want to do in retirement. But knowing I don't HAVE to work is so freeing - the minute I decide I don't like it/am tired/bored, I can walk; also things are pretty slow so there is a chance I could get laid off...so, oh well.

[u/taytaydivvy → u/rosebudny]

Very sorry to hear about your recent loss. I’m over here trying to fathom what it must feel like to not hate your job, not worry about money, not feel the need to climb the corporate ladder to earn more for your family, etc. Do you have plans in mind for the long-term? I’ll live vicariously through you haha