10 Things to do with Inheritance Money (Acquired After Selling Your Diamonds!)

You’ve just received a substantial amount from an inheritance sale.  What to do with the money?  Odds are that the person who willed you the funds wanted you to use the capital for something fulfilling.  Now is your chance to either invest in your long term future or blow it on shoes.  From the funds procured off a modest stone’s sale, all the way up to a Hope Diamond-esque cash windfall, here is an ascending list of options for what to do with your newfound cash.

$5,000

1 – Invest in a stock, CD or something else related to your “financial portfolio” …or, a racehorse!  An albeit risky investment, it does have the potential to pay out high dividends.  With an average purchase price around $60,000, your 12% investment will go a long way.  Highlight: front row seats at the race track while you cheer your mighty steed on, coupled with the possible thrill of victory/making a huge profit.

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2 – You can repay any outstanding debts…or just head to your closest casino and put it all on “red.”  The upside, you win and now have 10k.  The downside, you lose everything – but at least have a scintillating (if ridiculous) story.

$10,000

3 – A comprehensive tour of South East Asia.  This is one of the most remarkably diverse places to visit on the planet, and also ranks up there as most affordable.  Ten thousand dollars would take you a long way here, from the ancient temples of Nepal to the exotic dance halls of Bangkok back to a little tea house in Sri Lanka and beyond.

4 – Charter a (modest) yacht and sail around the Mediterranean.  Hire a skipper to take you to the best spots in this gorgeous aqua colored sea, as well as an onboard chef to flay and cook the all the delicious fish you catch on your journey.   Drink wine on the deck in the moonlight, with the sea breeze in your hair.

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5 – Almost a decade’s worth of a week long time share in Aruba.  The most exclusive time shares in Aruba (which is arguably the perfect Caribbean island) run about $1,100 per week (at the Renaissance Ocean Suites, Occidental (Allegro) Grand Resort, and the Costa Linda Beach Resort).  Bone white sand, crystal waters, imported flamingos and Dutch speaking natives: bliss.

$20,000+

6 – Hire Guns and Roses to play at your birthday party.   …Or any classic rock band that isn’t the Rolling Stones.  For the mere price of about 20k, you can have your favorite childhood group sing their hits – directly to you.  You can probably get them to throw in the birthday song for free.  Just imagine Slash shredding that ditty while your slack jawed friends look on with awe.

7 – Become a producer.  With a small (relatively speaking) sum such as this, you can hire an inexpensive team to conceive and execute a short film of your liking.  Perhaps you have an interesting story idea destined to be viewed on a big screen, or you simply want to tell an intriguing excerpt from your own life, or a family legend.  It’s all in your hands as the head honcho on set.

$50,000+

8 – If you’re not looking for any sort of return on an investment…it’s time to buy that sports car of your dreams.  Just think of your favorite company, model and color and head to the dealership and plunk down the cash.  Drive away like a rock star.  Some vehicles in this range include the 2014 Jaguar XF, 2014 Mercedes-Benz M-Class, and the 2013 Porsche Boxster, to name a few.

9 – Start a franchise.  While some of the popular, larger name franchises (Subway, Dunkin Donuts) can cost well over 100 grand to start, there are a plethora of others that will run you around 50.  From business services, childcare, home improvement, senior care and pets, there are a ton of options.  This could be a great business opportunity if you have the entrepreneurial spirit, but just lack an original idea (or one you’re willing to spend a small fortune on).

10 – Maybe you miss diamonds now…so much that you want to literally drink them down.  Fifty thousand on the nose will buy you the world’s most expensive cocktail.  The Moscow chapter of the restaurant Reka is the place to find this elusive elixir, which features three 1-1.5 carat diamonds in it.  Also, the portion of the bar where the drink is served is enclosed in Siberian Ice, because apparently it just isn’t cold enough in Russia.

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Now that your appetite is thoroughly whetted, it’s time to actually make that conversion from diamond to cash.  As you obviously want to be in that last category of big spenders, you need to find a place that will get you the most money possible for your diamond.  Look no further: Diamond Lighthouse, with our connections to the top diamond buyers in the industry, will make that happen.  For more information on turning your champagne wishes and caviar dreams into reality, visit us here.

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-Joe Leone

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