One Brandon Neth was just eighteen when he and his siblings discovered that they’d be getting quite the inheritance package. As we all know, inheritance is preceded by a death in the family, and although Brandon wasn’t close to his dad, it was still a grim situation.
Speaking to Business Insider, he says that he had only met the man twice but he was still upset over his death. At the same time though, the fact that he was now rich excited him, making the whole thing a juxtaposition of sorts.
A few months later, his paternal grandfather died, naming Brandon and his siblings as his beneficiaries as well. They say that there’s always a silver lining in every unfortunate situation, and this was it for Brandon.
Growing up with a single mom, life had been pretty rough for the young lad. He recalls a time when they were dead broke, having no place to call home. Luckily, they had a car, and that’s where they spent their nights.
You’d forgive him for being excited that he finally had a significant amount of money to his name, wouldn’t you? Thinking about that exact moment when he found out about the inheritance, Brandon says that he was with a friend at his house and his first reaction was an excited jump, screaming how he’d go on a shopping spree in Vegas.
However, it was to be two years before the money got to Brandon and his siblings. As he would come to find out, his dad’s family though being rich, had engaged in some unethical practices, including dumping toxic waste in different sites back in the ‘60s.
By the ’80s, the government had established a fund to hold all those involved responsible, collecting money from their trust funds to go towards the rehabilitation of contaminated sites. With all this bureaucracy involved, it had to be a while before Brandon could get his cut.
And when it finally came, it wasn’t the millions that his dad and grandpa had left him. Instead, it was around $123,000, but he wasn’t one to complain. He was still as excited as before, especially now that he was just about to join college. He was loaded!
He used part of the inheritance to pay for tuition, in addition to receiving a stipend of $1,200 monthly. He also had the liberty to request for more whenever he felt like it, something that he did very often.
Unfortunately for him, he fell into the trap young guys fall into once they get rich. He squandered his cash, and by the time he was leaving college, he was actually in debt! He never worried about his account running dry, banking on the hope that after college, he’d land a well-paying job.
Things didn’t go as planned though, with Brandon’s job bringing in a mere $40,000 annually. This was definitely not the salary he was expecting, and remember the guy was still drowning in $25,000 worth of debt.
Bills still got paid, but he regrets not saving or investing his money back then. Even after leaving college, it took him four years to be financially literate, at it took an ultimatum from his wife. If he’d advice his college student self, he’d definitely be all about savings and investments.
Brandon Neth is now 33 years old, pursuing a career in credit and travel. His earnings exceed his expenses, and he can confidently say that he’s achieved financial freedom.