12 Ways to Make Sure Your Money Outlasts You, From People Who Made It Last

With the advent of new-age millionaires who spend money as fast as it comes, a Reddit user was curious to know what people who came into wealth and made it last did. This sparked a conversation on the platform from other users in the community. We have sampled some of the best responses here.

How To Behave if You Win the Lottery

lottery ticket with hypothetical numbers, QR code and barcode,
Image Credit: Sagii/Shutterstock.

One lucky Redditor offered advice on how one should behave if they won the lottery, “A Redditor who won the lottery. I think the jackpot was $30 million, and he got … maybe $17 million? He was only in his early 20’s …He paid off all his debts, had some fun spending some of it, then got a financial advisor who gives him an allowance of something like $90,000/year. The rest of the money is invested. Any time he’s in danger of exceeding his allowance, his advisor calls and gives him an earful.”

Simple Living Plus Investing in Real Estate and Stocks

Photo portrait of mature handsome man arguing irritated face annoyed raise palm wear trendy green garment isolated on blue color background.
Image Credit: Roman Samborskyi/Shutterstock.

Living simply is key to keeping most of your wealth, as one user highlights, “Inherited about 400k back in 2011. Paid off student loans, spent 17k on a reliable Honda Civic, bought a 100k two-bedroom condo, went on one really nice vacation then put the rest into stocks and retirement accounts.

I live in the modest midwest and I’m a naturally frugal person, but I can’t tell you how cheap it is to live when you don’t have a mortgage and car payment. With those first two steps down I can put about half my salary into savings and I am well on my way towards financial freedom.”

Dumped Money Into a Retirement Account and Index Funds

Handsome young man with phone and money in pocket
Image Credit: luislouro via DepositPhotos.com.

Another decided to dump the money into a retirement fund and forget about it, “I inherited a significant amount of money when my uncle died a few years ago. It was a complete surprise, and I felt very uncomfortable about accepting so much money when I really hadn’t done anything to earn it. I immediately dumped all of it into a retirement account and index funds, and honestly, I don’t even think about it.”

Let the Money Compound

funny guy holding money
Image Credit: SuperStock2018 via DepositPhotos.com.

Compounding money can create a decent egg nest in the future. One user did this after they got some money, “I knew about an investment account my dad set up for me when I turned 18. Every quarter we would go over the investments. It started at $150k when I first learned about it. When I graduated, it was $200k and that’s after paying for school.

I realized what it could be in another 10yrs and decided to never touch it. My now wife and I live way below our means, and we are extremely happy. We put $20k in the account each year (even after maxing 401k).”

Receive a Monthly Payment

Dollars. A young man close-up in a blue shirt on a yellow background, gives or takes money. Holds money in hands.
Image Credit: file404/Shutterstock.

Others decided to receive a monthly stipend and let the principal amount keep earning interest. “I receive a set monthly distribution for the majority of my expenses and the trust will cover certain more expensive living costs. I receive a very good amount every month but my trust generates more money each year than what I’m given in my monthly distributions, so my yearly expenses don’t really decrease the value of my trust,” said one user.

Keeping Everything Frugal

Man doubting
Image Credit: AsierRomeroCarballo via DepositPhotos.com.

Being frugal is a great way to keep wealth intact; as one user narrates, “I inherited over $2 million at 20; at that point, my last parent had passed. I paid off my college tuition and used some of it for groceries/bills until I found employment post-grad, the only serious purchase I made was a new car. I keep a salary worth of cash liquid, but the rest is invested. Also, My parents were very frugal, so I think that has been instilled in me from a young age.”

Going the Minimalist Route

Happy Young Family In Front of Their Beautiful RV At The Campground
Image Credit: Feverpitch via DepositPhotos.com.

Others follow the minimalist road but still live great lives, “Got $3M saved from a business I started and sold. Sold everything, moved to Central America for 6 months, and lived out of a backpack. Learned to shed materialism and live simply. Moved back to the USA (way out in the country) and now live a quiet homesteading life while allowing myself and the wife to spend 60k per year total, including nice vacations and farm equipment,” said one user.

Do Not Let Relatives Know How Much You Are Worth

Portrait of selfish senior man crossing hands on his chest..
Image Credit: Koldunov/Shutterstock,

Keep your financial cards close to your chest if you want to keep your money; one user urges, “I sold a company for a few million in profit. Invested all of it and only draw a little each year. The most important thing I did was make sure no one (friends or family) knew I had the money. A lot of them know I sold the company, but I downplayed it a lot and continue to work, so they think I made almost nothing. Stops me from having to worry about people asking for money or expecting me to pay for things because “I’m rich.”

Hire a Financial Advisor

Husband and wife discussing investment plans with financial advisor
Image Credit: Kaspars Grinvalds/Shutterstock.

According to another user, if you do not know how to make money earn, hire an expert, “My grandfather left me 250,000 a few years ago when he died. So far, I have invested every cent of it and have made almost another 50K. I have a great financial advisor who keeps his eye out for good opportunities and has made some great changes to the account as needed. I pretend that I don’t even have it. I’m 22 and have a retirement plan that will set me up when I’m older.”

Took Some Risk but Still Safe

Senior grey-haired man wearing suit holding dollars and using smartphone
Image Credit: Krakenimages.com via DepositPhotos.com.

Others were bolder and decided to take risks investing the money, and it paid off. “I came into a little over $10 million recently, and it seems like it will be extremely easy to make it last.

I bought a new Cayman S and a house; the rest of the money is invested in a diverse portfolio of equities that bankers at JP Morgan manage for me. When I hear Redditors saying they would put the money in safe investments like government bonds/savings accounts, that seems insane to me. With this amount of money, you can take on a ton of risk and still be very safe,” said one user.

Cashed In From Others’ Misfortunes

Portrait of a young angry man gesticulating with his hands, looking at the camera.
Image Credit: dabyki.nadya/Shutterstock.

Although it may seem that others cashed in from others’ misfortune, this user was at the right time at the right place. “I got 300K from my dad’s estate. Guess I profited off others’ misfortune. The economy had crashed, and I bought some houses; the price had dropped 100,000 from their all-time high. Rent them out now,” he narrates.

Got Lucky With Investment

Beautiful young woman in glasses with dollars in her hands
Image Credit: Zoom01 via DepositPhotos.com.

Others simply became lucky. One says, “Inherited 500K at the tail end of 2014 when I was young, stupid, and drinking too much. I opened a brokerage account and went heavily short in oil futures. Made a bundle of money, got sober and now I just live off dividends.”

Keep Working

Mean Boss in Office
Image Credit: eric1513 via DepositPhotos.com.

Others kept working even when they were millionaires. This user says, “My husband and I are worth around 17 million, the last time I looked. We are in our early 50s and both of us still get up in the morning for work. He runs a mid-size engineering firm and manufacturing company. I am a jr high school librarian. (Media Specialist).”

Tighten Your Circle

Family Eating Meal
Image Credit: monkeybusiness via DepositPhotos.com.

Keeping your circle small and close can prevent wastage as one user notes, “You trust your immediate family and closest friends. That’s it. No third cousins or the guy who was your brother’s best friend in high school. Everyone has a dying mother that needs life-saving surgery. It sounds like a joke, but it happens. Don’t buy anything really lavish, either.”

Treat It Like It Doesn’t Exist

Portrait of angry furious offended senior person with bob hairdo wear pink shirt scream in conflict isolated on blue color background.
Image Credit: Roman Samborskyi/Shutterstock.

Ignore the money if possible, urges another user. “While it’s not an exorbitant amount, I have around 50k in an investment account from my late maternal grandfather. I treat it like it doesn’t exist, with the only exception being school. My parents didn’t have a bunch of spare change for college and so I work full time and whatever I️ can’t pay I️ take from the account and reimburse it sort of like a loan. It works for me, and I️ think it’s a decent amount to keep squirreled away for the future,” he says

The IRS Adjusted Its Tax Income Brackets — Are You Ready?

Close up portrait of relaxed black woman has gentle skin after taking shower, satisfied with new lotion, has no makeup, smiles tenderly, shows perfect teeth, stands shirtless against blue background.
Image Credit: Cast Of Thousands/Shutterstock.

Have you heard that the IRS adjusted their tax brackets? The reason behind the IRS adjusting its tax income brackets for next year is tax consolidation, which aims to simplify the tax code. You might have already heard about it.

The IRS Adjusted Its Tax Income Brackets — Are You Ready?

Travelers Beware: 10 Most Dangerous Cities In The World To Avoid

Scared young woman touching face isolated on black.

There are endless sources of inspiration for travelers nowadays, and with pandemic travel restrictions having been largely lifted, you can explore nearly every corner of the world. However, there are some places that you are better off avoiding- dangerous cities.

Travelers Beware: 10 Most Dangerous Cities in the World To Avoid

20 Legal Things That Will Probably (Hopefully) Be Illegal In The Next 20 Years

Judge reading in court
Image Credit: londondeposit via DepositPhotos.com.

In today’s modern world of legalities and regulations for everything, there are certain things that people are eager to see illegalized in the next two decades, despite the complex legal landscape or things people think will become illegal in America.

20 Legal Things That Will Probably (Hopefully) Be Illegal in the Next 20 Years

15 Things That Are Really A Scam But Have Been Normalized By Society

American singer Taylor Swift performs at her '1989' World Tour concert
Image Credit: ChinaImages via DepositPhotos.com.

Have you ever seen something that is so crazy and ridiculous that you are sure it’s a scam but is actually normalized by society? Do you know that society is being scammed, but everyone is just acting like it’s normal?

15 Things That Are Really a Scam but Have Been Normalized by Society

10 Crazy Myths About Women Men Actually Believe

The beautiful girl at a car wheel
Image Credit: belarry via DepositPhotos.com.

In our society, many myths and stereotypes exist about women. Unfortunately, some men still believe in these myths, even though they have been debunked time and time again. Here are some of the crazy myths that men believe about women.

10 Crazy Myths About Women Men Actually Believe


This article was produced and syndicated by A Dime Saved.