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I'll wander back in. Mom passed away recently, leaving a substantial sum that she had built from wisely investing an inheritance from her mother. (CAGR for the portfolio over 39 years: 9.41%.) Because she and Dad built their estate plan when all of us were much younger and things were different, the funds are locked in trusts that we get the income from, but can't touch the principle of, until Dad passes away. At 51 and with a net worth of my own that is larger than the amount I'm going to inherit, that all kind of amuses me.

Mom never really limited what she wanted to do in her lifetime, though. She used the income from that inheritance to further what she wanted to do -- paid for half of college for me and my brothers, bought herself a condo, paid for the spectacularly comfortable and nice clothes* she wore. She also paid for the family's vacations for many years.

So it is possible, with thought and some really darned good business sense, to do both. That money was also the beneficiary of dad's hard work, as much of the money was invested in the business that dad ran for many years.

ThyPeace, not as good at investing, buying clothes, or decorating as mom was.

*The number of Pendleton jackets in her closet was amazing. I'm currently wearing one of her Peruvian Connection sweaters with a scarf that I gave her from the Monticello collection. Oh, and her clothes were sorted by season into two different closets. Within each closet, things were sorted by color. There was a mock turtleneck in every. single. color. She wore green most, and there were probably a dozen different shades of green. I kept a minute fraction of it all, things that I thought I could wear, and doubled my total wardrobe. DD was delighted when I offered her a set of Leon Levin sweaters that were in DD's colors -- identical, but 5 different colors.
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