“What should I do with this money?”

Some people accumulate wealth for many decades to get one million dollars, while others get faster due to specific circumstances.

Reddor, 29, found himself in this position after defeating a lawsuit filed due to a motorcycle accident. It has been appointed Receive $ 1.3 millionIt is a big leap since it has already provided more than $ 15,000.

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Receiving more money does not guarantee long -term wealth. Many of the lottery winners are broken, but this may not be the case for Redditor, granting him not winning the lottery. That is because it reached Dave Ramsey Subreddit for advice.

“What is supposed to do with this money?” He asked.

These were some of the suggestions presented.

You don’t have to make aggressive investments with Fortune to make enough money. One of the Redditor suggested a high -return savings account. It is possible to find 4 % APY accounts, which translate into $ 52,000 a year.

It is a good additional income that may be enough to cover most of Redditor expenses. He was a firefighter before the accident and got $ 80,000 to $ 85,000 a year. He has obtained the salaries of disability equal to 80 % of his salary, and is scheduled to work again by the end of the summer.

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His salary appears to be enough firefighter because he has only one debt. He only has a $ 60,000 home loan from the bank and pays the price of its vehicles in cash.

One commentator told the 29 -year -old to make any dramatic changes in his lifestyle, and there are some reasons that make this great advice. Although $ 1.3 million is a great starting point, it is not enough to give up your job and retirement.

Moreover, making major changes in your lifestyle and informing people about your wealth can attract the type of wrong attention. You may attract “friends” who want you to spend the money on them and then disappear at the moment when your money dries up.

Life can be easier if the firefighter maintains his lifestyle and continues to work every day. The commentator suggested that the 29 -year -old can be in a position between easy and usual difficulty instead of “continuous grinding just to pay the rent.”