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

You would not believe how quickly you can blow $250k. You’ll pay off your debt. Then because you know you can use just a little of the money you have, you’ll think you should get a better car, and a better apartment, and a TV and other bullshit and you’ll eat out every day, and you’ll be lazy about improving your life and career. Take it from someone who has done it. You can blow through that in a couple of years and have nothing. Do. Not. Touch it. Make it difficult for you to even have access to it. With your current situation, you’re going to have a difficult time retiring comfortably. Turn your life around and know you have this nest egg growing for your retirement if needed.