I just received $100k as inheritance from a relative. It is awesome he left me that money, I don't really need it now to be honest. I'm debating what to do with it. Sure I can invest, or upgrade my car, or use as down payment for a property... suggestions?... not a lot of money but not small either. Thanks
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- Apple HdefbvstjmPut it into a low-fee index fund and let it grow. If you have it there for 40 years (assuming you’re young), it can grow to over a million dollars.
- Use it to do good. If you live in the Bay Area, there are so many people that were struggling to make it and then the fires took what little they had. Or help the people of Puerto Rico.... you can literally look around you and see the areas where financial support can transform other peoples lives more than it will transform yours. Giving to those that need it desperately, helps everyone.
- Microsoft Ft344327$I’d put $2500 in Bitcoin, $47.5k in low-fee vanguard funds, and hold the other $50k for opportunistic investment opportunities.
- PayPal me 100 bucks and invest the remaining. Is there a charity or cause important for that family member? Maybe it'd be nice to dedicate some to it. Honestly if you really wanna help considerably 100k might not be enough so if that's a goal letting this money compound and then dedicating it to something is the way to go.
- HPE / Sales CottonTopPay off all debt, start an IRA at Vanguard, max your 401K ($18,500 I think per year), you've got buy 1 BTC just for fun and a couple ether, buy a couple ounces real gold and A couple bricks of silver, a couple AR-15 and ammo, down payment on investment property, more Microsoft shares.
- Microsoft ThesmithOPThanks for the ideas. The inheritance is tax free. I like the investment options, will keep $20k to chill, I see a lot of comments about bitcoin, is it really a good idea? Where do I buy it?
- Research. Bitcoin. I would Invest 50k in bitcoin. It will either be worth $10M (20x) in ten years... or it will be worth $50k. That's what I just gathered from a talk by a leading crypto analyst (who analyzed disney's dragoncoin currency). Taking his advice, I bought another one last month at 4300, today its trading at 6100. Made almost 2k off that investment in less than a month.
It felt like a gamble when I bought. Now feeling pretty confident. You can bet that anyone who says "but it could go up in flames tomorrow" doesn't understand it. Such a reductive argument, def ignore that advice. There are great reasons not to invest in Crypto but "well it will blow over" is not one of them. I'm glad I didn't listen to those types, turns out they were talking about stuff they didn't know.