Personal Finance

I'm in college and just discovered my estranged father just died and he left me over $10 million - should I drop out of school?

Christy Bieber

Published: February 20, 2025 1:00 pm

If you were a college student and received a huge inheritance, what would you do? A Reddit user is trying to figure that out right now. The original poster (OP) explained in his thread that he is in college and majoring in business administration. His dad, who he was not very close to, passed away recently and he was informed that he is receiving a very large eight-figure inheritance.

Since he now feels like he has inherited more money than he could ever make, he is thinking about dropping out of school. So, is that a good idea to stop attending college because of a huge financial windfall?

An inheritance can set you up for life — but that won’t always happen

While the OP may feel like he doesn’t need to go to school anymore, the reality is that it is likely going to be very important to his future that he doesn’t drop out. There are a few reasons why. 

First and foremost, many people who receive an inheritance end up squandering all of it. They may invest badly or spend carelessly without thinking of the long-term costs of luxury purchases like a fancy car and expensive houses. They may also experience people trying to take advantage of them and get a piece of the money.  While it may seem hard to believe that an eight-figure inheritance could just be wasted and lost, this happens to lottery winners all the time and it is not outside the bounds of possibility. 

There’s also the fact that college would likely be a prerequisite for most of the meaningful or enriching jobs the OP could get. Since he is very young at this point, he’s probably going to want to work in some capacity. After all, working is a big part of what gives meaning to life, and decades of time with no job is a very long time, especially since the OP is in college and most of his peers are likely going to be working for decades to come. 

Use your inheritance wisely to enhance your life

A large inheritance can enhance your life by improving financial security and offering you the freedom and flexibility to pursue a career based on what you are interested in rather than based primarily on what’s going to be lucrative. However, it can also ruin your life if you start spending too much, lose focus on doing something meaningful, or find yourself the victim of grifters and scammers who just want to take advantage of you.

Ultimately, the OP may want to make some reasonable changes, but should ideally continue living as normally as possible. He shouldn’t suddenly start throwing around cash. Instead, he should invest, make a plan to access the funds at a safe withdrawal rate to supplement his future salary, keep his inheritance largely a secret from all but those closest to him, and enjoy living a normal life — but without the financial worries that most people experience.

If he can do that, he can set himself — and future generations — up for success.