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

Just a question to anyone who may be reading(and not advice to OP).

I've heard that investing in an index fund is advised for people who don't have a lot of experience investing in single stocks and that financial advisors are a bad idea because of fees eating away at compound returns.

Why aren't more people telling this guy to put his money into a low-cost index fund and to fire the financial advisor- especially if the market return is around 7% over the long term(which doubles the rate of return around every 7 years as well)? His risk would be lowered by investing in the market as a whole rather than in specific financial instruments while also ensuring pretty much the same return over the long term in the principal, not counting any dividends.