Apple TV+'s 'Loot' Offers Five Lessons for Inheriting Wealth
Season two just ended, and main character Molly (played by Maya Rudolph) has shown us multiple ways that new heirs should and should not be like her.


In the Apple TV+ show Loot, a 45-year-old woman named Molly (played by Maya Rudolph) becomes the third-wealthiest woman in the world after divorcing her tech billionaire husband. Now in its second season, the show follows her life as she takes charge of her neglected foundation and embarks on a soul-searching journey as a newly single woman and philanthropist.
Fully entertaining and often endearing, Loot offers many real-life lessons about what to avoid when inheriting wealth. If you are coming into a large sum of money or know someone who is, below are five tips on how to successfully navigate this period and end up on top.
(Warning: Spoilers for seasons one and two of Loot below.)
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Tip #1: Don’t splurge on big-ticket items right away.
In season one, Molly takes her colleagues across the country on her private jet, which turns out to be a bad idea for many reasons. For newly high-net-worth individuals, it can feel tempting to spend your inherited money right away. Big-ticket items like a larger primary residence, vacation home, luxury car or international trip are now at your fingertips. Similar to how individuals who win the lottery feel, the urge to splurge or use the money to make a big life decision like quitting a job can be overwhelming.
Instead, take a step back. The money isn’t going anywhere. Consider what your needs and values are and how more money can help bring balance to each. Indeed, before doing anything, pay attention to the next tip.
Tip #2: Put together a plan for your money.
At the end of the first season, Molly admirably announces she’s giving away all her funds, but she has no idea how to go about it. Having a plan is essential. Before making any big decisions, it’s important to come up with a mission statement and map out exactly how your funds will support any benefactors, the rate at which you will give and which organizations you will be giving to.
Philanthropic contributions can be made a number of ways, including cash, through appreciated stocks, donor-advised funds, community or family foundations or qualified charitable distributions (QCDs) from an IRA. Depending on which avenue you chose, donors are also privy to benefits including the reduction or elimination of capital gains taxes on their gift.
However, before you set your gifting plan in motion, this is a good time to assess your current levels of good and bad debt (mortgages, college loans or credit card debt, to name a few). As the old saying goes, pay yourself first and then ensure you are proceeding with both care and intention.
Tip #3: Surround yourself with a team of professionals.
It goes without saying that you’ll need a great team beside you. Molly is lucky enough to have quirky colleagues who are passionate about giving, supported by Arthur, her accountant, who serve as her allies.
Curiously, the audience has yet to see Molly meeting with her financial adviser. Don’t be like Molly. Having a strong relationship with an adviser is one of the best decisions any individual who has serious financial goals should make. Indeed, advisers are critical to ensuring that financial plans are executed appropriately and that individuals are getting the best bang for their buck.
Tip #4: Do your research.
In the first episode of season two, Molly and her team are about to give their money to a well-known philanthropist, only to find out at the eleventh hour that he’s actually running a Ponzi scheme.
While you may have never been personally subjected to this misfortune, don’t assume that there aren’t nefarious actors trying to swindle you and others out of your money. Refuse to place your trust in any person or entity without doing your research. Alongside your team, conduct the proper due diligence and ensure that you’re giving to a reputable organization where your funds will go to good use and as originally intended.
Tip #5: Be authentic.
There are many moments throughout the first season when Molly gets in trouble for something she says. While she means well, it’s clear that she doesn’t always understand the people she’s trying to help and the issues she’s trying to solve.
Even in adulthood, we are still growing and learning. With your newfound wealth, it’s important to remain authentic in your giving efforts and support for causes that you truly care about.
Inheriting wealth can come with both big perks and big responsibilities. Regardless of your family situation, be sure to properly identify who your funds are going to and have ongoing conversations with whoever you identify to ensure a seamless experience. Throughout the process, take your time, be yourself, create a plan and find a team of professionals who can help you forge your individual path.
Regardless of how you pursue your new life as an heir or heiress, there are numerous ways to remain family-oriented, philanthropic and strategic in a way that provides high impact and keeps your values intact.
ALINE Wealth is a group of investment professionals registered with Hightower Securities, LLC, member FINRA and SIPC, and with Hightower Advisors, LLC, a registered investment advisor with the SEC. Securities are offered through Hightower Securities, LLC; advisory services are offered through Hightower Advisors, LLC.
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Peter J. Klein, CFA®, CAP®, CSRIC®, CRPS®, is the Chief Investment Officer and Founder of ALINE Wealth, a wealth management firm that specializes in providing clients with financial planning advice for every stage of their lives. Along with Peter’s deep financial wisdom, he adds considerable acumen in philanthropy, helping clients navigate family trusts, institutions, and nonprofits.
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