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

Nah, spend some of that cash. He clearly stated he wants to get out of his current rut. Tomorrow’s not given lol. But seriously tho…Address your immediate concerns by allocating around 20% in cash for emergencies, held in a high-yield savings account. Let the remaining inheritance grow through existing investments for a decade. Research financial responsibility, consider a small property in a affordable area, and use part of the 20% for a mortgage down payment to build equity. Establish credit with a secured credit card, pay off loans, and invest in skill-building certifications to enhance your career or start a side hustle. Balancing immediate needs and long-term growth is way better than risking it on some business