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Inheriting $200k

Discussion in 'General Entrepreneur Discussion' started by PurEnergy, Nov 23, 2018.

  1. PurEnergy
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    PurEnergy New Contributor

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    It's been a long time since I've been on here. I have followed MJ and this site since before it was built. I lost everything during the last downturn. I've rebuilt my life and have a good income (sales job), very little debt, and some money in the bank. I am about to inherit a decent some of money ($200k). I'm 54 with a background in sales, business ownership, and real estate. I'm not going to write my life here I just have a simple question for those who feel qualified to answer it.

    I have tolerance for risk but I'm at an age that I don't really need to make huge mistakes. How would you invest this money to achieve security and wealth?

    I have learned to make something from nothing. I like buying cheap properties with as much owner financing as possible and reselling with owner financing. But having this sort of money to work with gives me some options to maybe try some different businesses. Or maybe I should stick with what I know? This is something that was just presented to me so I haven't put a lot of thought into it. This is the first place I'm asking this questions as i know there are some successful people here.

    Thank you!
     
    Jeff Noel likes this.
  2. bringitnow28329
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    bringitnow28329 Bronze Contributor Speedway Pass

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    Waiting for the next recession where GDP is negative for 2 consecutive quarters and consider buying into the SPY or buying some real estate assuming prices drop 20%+. The stock market is weak right now, but economic growth is above average due to Trumps tax cuts, so this probably isn't the end of the bull market just yet but maybe in the next 1-2 years when interest rates rise to 4%+. Th Federal reserve always overshoots on the federal funds rate which is what leads to a recession. We are only at 2% now and they are raising at .25% per quarter so still some time to go.
     
    PurEnergy likes this.
  3. 100k
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    100k Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Buy a business that doesn't slow down during recession.

    I hear people are making bank with upscale Food Trucks. Buy two of those bad boys, upgrade them to a high standard, hire two hot looking gals to operate them for you. And you should clear $100k+ from each one after all your expense.
     
    PurEnergy likes this.
  4. Kid
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    Kid Bronze Contributor Speedway Pass

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    Wait for market crash. Invest in index funds.
     

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