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?
whatever it is in that will ensure that it doubles in 7 years - so the 250K becomes 500K then just let it double. you may need to sell something to get you out your current space - so what ever 50K can do - not sure what state you live in and how far that can go –
to be clear that would be selling the REITS (which may be down significantly) to go find a safe space
hope that helps - but it is easy for 250K to go poof