Originally Posted by Shoe City Thinker
... what would you do now that your net worth is more than what you made in salary in the past 4 years? Take a new career direction? Go on sabbatical?
This happened to me a few years back. Quit my job. Did some traveling and then looked for a new career that would be more fulfilling. I now love my job, and even though I took a nice long trip around the US and Europe, still have most of the money I inherited.
I was frugal before my inheritance, and I continued to be frugal after it. I slept on couches and in shitty hotels/hostels when I traveled. I suppose I didn't have to, but that's just the way I am. I hated my job, so it afforded me the ability to find a new job and travel a little. That was all it really changed for me. That and I don't sweat my mortgage payments anymore.
I could've gone out and blown it with some fabulous times, but what a waste of money. The family member that gave it to me would roll over in their grave if I wasted their money. Just try to continue to be yourself without the worries of meeting bills etc. would be my advice. Do something nice like a trip to Europe or take your loved ones on a special trip or even just out to a few nice dinners.
And save, save, save. It's 2010. Things are expensive. Unless you're talking more than $1 million, it's not going to last nearly as long as you think it will.