My brother, sister and I received a summer home in Marshfield, Mass. worth between $250,000 and $300,000. We also received half of another summer home on the same block worth about $250,000 that my mom shared with her sister.
We were lucky we got the majority of what had to be done prior to her passing away. We got her property and the majority of her liquid assets set up in a trust. We all wanted to keep the cottage that was my mother's and we purchased an additional cottage right next door. I think she'd be very pleased that we were able to acquire another cottage. My family has owned property on these blocks since the early 50s.
We decided to use it mostly for rental income and we plan to share it to some extent for a week or two in the summer. This year -- for the first time -- we're all going to be together there the last two weeks of August. She'd be happy with that.
These three families are on their way to becoming millionaires. How are they doing it -- and how can you?
