Marc Guberti

Sat, Jun 14, 2025, 6:31 AM4 min read

Some people accumulate wealth over many decades to end up with $1 million, while others get it quicker due to specific circumstances.

A 29-year-old Redditor found himself in this position after winning a lawsuit he filed due to a motorcycle accident. He's set to receive $1.3 million, which is a big jump since he had previously saved no more than $15,000.

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Receiving more money doesn't guarantee long-term wealth. Many lottery winners go broke, but that may not be the case for the Redditor, granted he didn't win the lottery. That's because he reached out to the Dave Ramsey subreddit for advice.

"What am I supposed to do with this money?" he asked.

These were some of the suggestions Redditors offered.

You don't have to make aggressive investments with the fortune to make enough cash. One Redditor suggested a high-yield savings account. It's possible to find accounts that offer 4% APY, and that translates into $52,000 per year.

It's good supplemental income that may be enough to cover most of the Redditor's expenses. He was a firefighter before the accident and earned $80,000 to $85,000 per year. He has been receiving disability pay that equals 80% of his salary, and he's set to work again by the end of the summer.

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His salary as a firefighter seems to be enough since he only has one debt. He just has a $60,000 home loan from the bank and paid for his vehicles with cash.

One commenter told the 29-year-old to make any dramatic changes to his lifestyle, and there are a few reasons why this is great advice. While $1.3 million is a great starting point, it's not enough to quit your job and retire.

Furthermore, making significant changes to your lifestyle and letting people know about your wealth can attract the wrong type of attention. You might attract ‘friends' who want you to spend money on them and then disappear the moment your funds run dry.

Life can be easier if the firefighter maintains his lifestyle and continues to work every day. The commenter suggested the 29-year-old can be in a mode that's between easy and standard difficulty instead of "constantly grinding just to pay the rent."