I’m coming into about 250k in a couple months from an inheritance. It’s currently in stocks, bonds, REITs. It doubles roughly 7 years, so I’m told by my financial advisor. I could take it out in cash or leave it there for it to slowly grow.

My situation right now is rough. I’m living in a small apartment, can barely pay rent, my electricity just got shut off a couple days ago, my car note is 4 months behind. I work a dead end job and I’m broke as hell.

I want to use my inheritance to help me out of this rut. Not to spend it all on useless crap but either a home, or a business (PASSIVE preferably). I don’t have many business skill sets or anything like that. If I could make money online that would also be great. Not sure where to go

How do I begin with my little experience? It takes money to make money right? And I have that shortly so… what would you do?

  • ExtremeThrifty@alien.topBEnglish
    1·
    10 months ago

    Treat that 250k as invisible, draw out some for expenses I would say 10-20k, until you are fully ready to weld that money. It can be a double edge sword. With the right skills and resources, you can 10x this in years. If trapped onto the wrong mindset(not saying you are), this money could vanish in seconds.