Personal Finance

What would you consider a "large inheritance"?

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  • Aug 5th, 2011 3:37 pm
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[OP]
Member
Sep 18, 2010
231 posts
8 upvotes
Oakville

What would you consider a "large inheritance"?

Just curious because I think different people have different perceptions.
So, out of curiosity what would you consider a large inheritance?
Anything over $_____?
32 replies
Deal Fanatic
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Jan 6, 2002
6396 posts
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Toronto
I would consider something "major" only if it could materially affect my long term financial situation. In my case I would set that at 2X annual after-tax salary.
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Deal Guru
Jun 26, 2011
14882 posts
5009 upvotes
GTA
For me it depends who it is coming from. 100K from immediate family wouldn't seem as large as 100K from an uncle or grandparent.

That being said I would still say 6 figures plus is pretty large. I'd rather have my family than the money though!
Deal Guru
Dec 31, 2005
13306 posts
741 upvotes
Large would mean changing the way that I live....so probably a 3M.
Member
May 16, 2011
203 posts
18 upvotes
nalababe wrote: Large would mean changing the way that I live....so probably a 3M.

Wow, you're a baller... I need to quit my job and do what you do!

I'd say anything over 300k is large...
Deal Addict
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Oct 26, 2008
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Let me speak on behalf of 60% of the population who are paycheck to paycheck. I would say $300 (without the K at the end) is a large inheritance.
[OP]
Member
Sep 18, 2010
231 posts
8 upvotes
Oakville
Wow, quite a large range. To me 1 million would be considered large.
Deal Addict
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Jun 19, 2010
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GTA
I would say $100,000.
Then again, I am only 18, haha.
Deal Addict
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Jun 23, 2009
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YUL
I'd consider 100K the min for a "large" inheritance.
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Sr. Member
Dec 27, 2009
626 posts
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CRAZYBUBBA wrote: I'd consider 100K the min for a "large" inheritance.

this question is completely relative to who you are, therefore, no answer is right or wrong
Deal Fanatic
Mar 21, 2010
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Toronto
I would say 500k. Being able to buy a nice place to live (or in the GTA, most of the way to a nice place to live) is a large inheritance.
Deal Addict
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Jun 19, 2010
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A large inheritance doesn't really have a set value.
It all depends on what kind of money you already have.
Somebody who makes $10,000,000 wouldn't find $1,000,000 large, while somebody who only makes $100,000 would think they were blessed by a divine creature, haha.

So shouldn't the question really be; What percentage of your income would be considered a "large inheritance"?
Newbie
May 21, 2008
49 posts
10 upvotes
The answer depends a lot on circumstances and on how you spend the money. My dad died when I was 18 and my brother was 20. There technically wasn't any inheritance but there was a good chunk of pension and life insurance money. All together we each received just over $90,000.

I invested all of mine and over the years it has paid for extensive travel, a masters degree, a good downpayment on a house, and I still have more in my investment account than I started out with. It has basically given me the freedom to never worry about money. It's certainly not enough money to retire on, but it's enough that I never worry about how I'd pay the bills if I lost my job tomorrow.

My brother didn't invest any of his. He lived comfortably for a few years and his money is long gone. Because of that I'd say the 90k was a large inheritance for me, but not for him.
Deal Addict
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Nov 28, 2010
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I think 100k is a large inheritance.. :cheesygri
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Deal Addict
Jul 9, 2004
1572 posts
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Delta
anything >= 100k I'd consider a "large inheritance". though the phrase does bring to mind something at least in the neighborhood of a few hundred thousand.
[OP]
Member
Sep 18, 2010
231 posts
8 upvotes
Oakville
Zyphur wrote: A large inheritance doesn't really have a set value.
It all depends on what kind of money you already have.
Somebody who makes $10,000,000 wouldn't find $1,000,000 large, while somebody who only makes $100,000 would think they were blessed by a divine creature, haha.

So shouldn't the question really be; What percentage of your income would be considered a "large inheritance"?

Well, I was interested in what dollar amount people would consider large. It definitley is subjective though.
Deal Fanatic
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May 17, 2006
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10+M is large

100-500k would be an avg to low inheritance.
Newbie
Jun 15, 2011
32 posts
BRAMPTON
Anything that can change your life... If 100K does it for you closes some credit cards, mortgage start saving interest...I know 100K is nothing for me, another drop in the bucket...

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