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?

  • TriRedditops@alien.topBEnglish
    1·
    1 year ago

    This money is already passive income. Take a small amount to fix your current issues. Pay off the car, get your rent situated, don’t be paycheck to paycheck. Keep the rest invested.

    Check out the personalfinance subreddit.

    Entrepreneurship is kind of a gamble not a means to an end. It is unlikely that you will double your money every 7 years as a business owner. You might…but you might not.