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I have an opportunity with no idea what to do with it (alien.top)

submitted 1 year ago by bellabaayyy@alien.top to c/entrepreneur@indiehackers.space

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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?

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[–] appleseedjoe@alien.top 1 points 1 year ago (2 children)

if it ACTUALLY doubles every 7 years you have a amazing financial advisor!!! id ask for proof that it has done that in the past and take out as little as possible to get yourself on your feet.

i went to a 9 month trade school for 18k. i made 91k my 2nd year and took two months off during that 2nd year. if you don’t know what you wanna do the trade’s definitely need people. i did welding but if i could go back im time i woulda went into plumbing. good luck!

[–] up_the_downstair@alien.top 1 points 1 year ago

https://money.usnews.com/investing/articles/the-rule-of-72

Basically he’s just assuming 10% annual return.

[–] snow_fun@alien.top 1 points 1 year ago

I’m curious as to why you would have chosen plumbing over welding??