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

250k at an any age under 40 can be expected to carry you through retirement if you leave it in an aggressive portfolio, as by 67 you’d have around 2 mil.

It’s far far more powerful to leave the money alone and let it grow unless you have an extremely solid business plan.

If it were me the most I would use is 10% to pay for a degree to earn more in a W2 role. But even then the temptation to spend will be hard to stop once it’s started. Best to just ignore the asset and let it do its thing. Also, highly recommend something like boggle heads vs a fund manager. Investment fees will eat you alive if you let them.