True story, I actually know someone, a single child of two parents, who got around 250k inheritance. His mom died, when he was just past 20 years of age and he blew it all in quick fashion on women and drugs. Not the sharpest tool in the shed but he was also entitled to a bunch more money down the road from his fathers' will--who's still alive so perhaps he had that in the back of his mind to fall back on after the initial debauchery.
update: got my year end bonus and the $146k is going straight to my money market account at 0.50%... I will be transparent and am considering investing $10-$25k in Amazon's split.
The lockdowns and vax mandates have done long term damage to the world economy and supply chain resulting in shortages and exploding inflation. The financial war on everything Russian will further accelerate the inflation and shortages beyond your wildest imagination.
Your best investment will be tangible life essentials such as food, energy and shelter. If you trust that traditional investment instruments such as equities will survive, then put your money in Agriculture or Commodity ETFs.
Your greatest responsibility is to your young dependent children. If I was in your situation, I would buy a small farm. Given your limited funds, you may have to seek property in depressed areas where no one wants to live such as small farm towns in the Midwest. Missouri and Arkansas come to mind.
Great article, all I would add is just be careful and not to make any decisions out of desperation. Decisions like investing your pension and other assets into high-risk high reward online trading and other risky investments. Learn from my experience, early this year I put 90% of my retirement into a scam company and initially lost everything. Glad I was introduced to an Asset Recovery Expert who took keen interest into my situation and offered to help.Since then I've decided to offer help to anyone who has found themselves in a similar situation
So take your time and make the right decision for you.
I would love to have some help. However, I'm just learning about the investments at the moment. The https://bnlfinance.com/ website helped me to get to know a lot, but I still do not dare to start investing. Fortunately, I already paid off all debts, so now I'm on a stage of saving. I hope to start investing soon.
I was planning to buy a home for my growing family (kids ages 4 and 2) around this time, and so the past 3 years have been saving for a down payment outside of normal retirement savings. Have 250k plus saved for a down payment which I have in cash currently as I didn't want to experience a 2020 type crash that prohibits me from entering into the housing market.
Now the housing market is too heated and I'm losing bidding wars. Not sure when or if I should even enter this insane market (trying to buy in Westchester county ny or Fairfield county ct). Inflation is 7% but seems much much higher (feels like 20% honestly). Stock market is heading into bear market levels soon with the Russia sell offs.
What do I do with this cash? Bonds? Gold? Bitcoin? How do I fight inflation while also being liquid enough to enter the housing market when the time is right?
Feels like my only options are
1. Put this in the stock market and risk the market continuing to slide which limits my ability to buy a home.
2. Keep in cash and watch it devalue quickly every month
3. Buy a home right now at the absolute peak
You could advertise the fact on reliable forums on the internet and see how long it would be before you got sound advice ?