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How To Spend an Inheritance

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What would you do with an unexpected inheritance? Here at Planswell, home of the world’s most actionable and completely free financial plans, we’ve got some ideas.

CEO Eric Arnold recently shared this true story that got us thinking:

 “An elderly woman down the street from my grandmother died. My grandmother used to bring her food and help her out because she seemed destitute and had no close family. When she passed, neighbors were stunned to learn she left behind a $3 million dollar estate! A distant relative was the lucky—and certainly surprised—beneficiary.”

One Friday morning, a couple dozen of us fantasized together about how we’d handle an unexpected windfall from a long-lost family member. If you’re looking for ways to spend a bundle of cash, look no further. 


Real Estate

I’d really like to shoot my body up into space and become radioactive or whatever. That’s obviously not realistic, so I’d definitely invest in real estate.” – Clover Tang, Unreal Estate Pioneer

Great minds think alike. Seventeen of us were all in on real estate investments. But when it comes to “location, location, location”, everyone has their own idea of paradise—from a beach bungalow for Tanya to a multiplex in Toronto for Anthony. Shaun wants to move to the top of a mountain so he can ski from his front door. Scott wants a house in the Bahamas with an infinity pool. Michael wants to snatch up acres of farmland. All of the above for Jen—she wants a house for every season. 

Parsa will just dabble. “I’d invest some of it in real estate, and play around with the rest.”

For the generous among us, real estate would be a family affair. Abdullah wants to fund a house-flipping business for his wife. Meagan would buy her husband a farm. Danielle wants to gift homes to her mother and sister. 



“This village—there is a factory here that doesn’t work. So, I want that. It shall be my factory.” -Tamara Antonijevic, Industrial Aficionado

It’s no surprise that a team working in the finance industry would set their sights on investing after a cash windfall. Our varied responses were a reminder of how many options there are today to put your money to work for you. Thus, Eric probably had the best plan amongst the whole team, “I’d invest it through a financial advisor.” 

 In addition to real estate, the team’s creative investment strategies include:

  • Private mortgages
  • Bitcoin
  • Parking lots
  • ATMs
  • A gallery
  • Life extension research
  • Moderate growth dividend portfolio 
  • Index fund with a low MER 
  • Equal split of low, medium, and high index ETF funds




“I’d be a man of the world.” – Lukasz “Man of the World” Merzdik

Travel was the next most popular dream. Seven Planswell team members want to live and work from exotic locales around the globe. (They may have taken inspiration from Planswell colleagues who already do this now —some members of our fully remote team regularly attend meetings from beaches and boats. YOLO!) A month-long vacation would do it for Nicolette with stops in the Philippines, Japan, Vietnam, and South Korea.


Pay It Forward

“It’s been a dream of mine to build a YMCA for seniors because I was super close to my grandma, and I learned from her about loneliness among the elderly.”-Javairia Asif, Best Granddaughter Ever

Six lovely team members wish to put their new-found fortune to good use helping others. Nick would help his family. Patrick wants to help the homeless. Amee wants to explore entrepreneurship so she can create opportunities for others. “One of the coolest things about people who own businesses is the opportunities they give to other people to grow and build their skills,” she said. Abdullah is on the same page with his dream of being a venture capitalist funding startups.



“First and foremost,I would actually change from plastic cheese to regular, legit cheese slices.” -Trevor “Dream Big” Oseen

Who hasn’t thought about an upgrade they’d love to make someday, if money wasn’t an issue? Our collective wish list includes:

  • A facelift 
  • A shopping spree
  • A lifetime supply of Skittles
  • A pet monkey
  • A Bentley, an F4 Ferrari, and a 69 Skyline
  • A personal driver



“I would basically go on the wildest bender possible. When I’m dead, my body would be loaded into a rocket and shot into the sun. That’s how I would spend it.” – Craig Savolainen, Ray of Sunshine 

Nice meals, spa days, an interesting new hobby…when we think of a financial windfall, many of us envision less stress and more smiles, a.k.a. the easy life. “Collect moments, not things,” say Many Instagram Captions. That’s definitely appealing, especially in the aftermath of the Coronavirus pandemic when joyful moments were hard to come by.

“There’s no @#$% way I want to buy a bunch of properties. The first thing I would do is have a party,” said Andy. “I’d invite everybody who had any kind of meaningful impact in my life and it would be a hell of a party.” 

Count us in.



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