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

Personally I’d make a realistic monthly budget and take 1 year worth out. Save everything I made from work that whole year. Use the year to make a plan or make steps towards whatever goals I wanted to work on.

Choose my next step, do I want to further my education, make a career change, travel, become more stable, focus on my health.

I wouldn’t touch the rest of the stocks though.

Don’t worry about upgrading your lifestyle and stick to upgrading yourself is my only advice. The rest can come after you’re good.