Personal Finance

I went from thinking $1k was a big deal to finding out I inherited $600k and now I'm losing all sense of value

David Beren

Published: January 18, 2025 11:05 am

It’s not untrue to say that everyone has a different sense of money, which is very much okay. What’s expensive to me might not be expensive to you, and vice versa. The same goes for how much we think we need to have saved to feel like it’s really a big deal. 

This is precisely the case with one Redditor who posted in r/Money indicating that they once thought having a $1,000 expense was significant. Now, understanding that he will one day inherit around 500,000 pounds ($611,246 US dollars), he realizes how little he knows about the value of money. 

This was a pretty interesting read as it’s unusual for a 22-year-old male to come into so much money, so understanding how to handle such an influx of cash can lead to good or bad life decisions. 

The Inheritance

Let’s be clear about one thing, and that is the understanding that the Redditor hasn’t inherited any money, yet. However, where things stand is that his parents have advised him he will one day receive the 500,000-pound inheritance. On top of that, he will also receive a house with a current valuation of around 600,000 – 700,000 pounds.

Of course, the hope is that his parents will live for a while longer and will not give him this inheritance anytime soon. This said, the knowledge that he will receive this money has changed his outlook on the value of money. Before talking with his parents, he used to look at a 1,000-pound expense as a major deal, so much so that he thought any such expense would dramatically and negatively impact his financial stability. 

Now, he’s less concerned, and these minor emergencies or expenses don’t feel like a big deal. It also has clicked that he understands now that his parents have been successful enough to drive nice cars, have a nice home, go on multiple vacations a year, etc. 

The Considerations 

Should the Redditor one day receive the money, he should work with a qualified financial advisor on how to invest the funds best to grow. However, this money isn’t a sure thing, at least not yet, as his parents are still alive. 

As there is no indication the money is being held in trust, any number of considerations could arise that could reduce or eliminate the entire inheritance. What happens if one of the parents has a major medical emergency that insurance doesn’t cover or only partially covers? 

When you consider this scenario along with any other options, like a parent losing a job, there is no doubt that this Redditor shouldn’t make any financial decisions based on a windfall that hasn’t arrived yet. 

One Redditor put it best to correct the original poster by saying that his parents “intend” to leave him money but that the Redditor should proceed with life as if nothing is coming. Then, if you do receive the money, it will help give you some financial peace of mind. 

Until then, it’s okay for the Redditor to have a different value of money regarding what is essential to spend and what is not, but he needs to live in the real world for now. 

The Future

I’m happy for this Redditor to know that his parents are in a position where they hope to be able to help him in the future. This is a great thing, and all parents should strive to be in the same position. However, I agree that he should continue living as if this money doesn’t exist. This is the only way to maintain a true sense of how much money still means. 

At 22 years old, he has his whole financial life ahead of him, including decades of earning potential that could help set him up for life. While 500,000 pounds is a considerable number, it’s also a number that can go quickly once you use some of it to buy a house, take a once-in-a-lifetime vacation, and other large purchases like a car.

The best thing is that the Redditor one day inherits this money and is already in a financial position; he can forget it and let it grow until he’s retired. The Reddit comment section isn’t exactly in agreement about how far half a million pounds will go, but there is universal agreement about not spending it until it’s actually in a bank account.