I inherited over 100 grand...what would you do

OP you shoulda started with $200k if you're wanting to make a $100k in a year. I know it's an old joke haha.. but hey you know, you could stop now and you've already made $100k??? One thing you really need to work on from the start is attitude. If you go into this with the same attitude you've had at last couple of employers, well I guess you could always join the anti broker club (TTR broker subsection) and sing kum-bah-yah I hate bloodsuckers haha!!

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rollin, better watch out they will start yelling you can't possibly be a trucker. you could only be a broker looking down his nose at truck drivers.

 

OP, don't tell anyone you have new money. Don't tell anyone. You should consider hiring a Certified Public Accountant and ask him or her how to invest that money. If they cannot help you get at least 7.17% annual return, go find another one. Also, take your lady out for the night, drop a thousand bucks, and remember the people that left you that money, forever. Don't squander that money, man. You've been given a new start. Do it right, and make everyone proud.




Also, don't believe anyone that says they can give you 'better-than-market' returns. That's not gonna happen at $160k.

 

With all due respect to your own ideas, Please consider this: Tennessee Valley Authority is paying 20 cents /KW/HR for Grid Tied at home Solar power "Farms"......Permits for residential are up to 200 KW systems,(appox.3-5 acres of flat land)......That works out to a check each month of about $12,000.00 with no driving needed.


If after 1 year of Solar Farming you "NEED" to drive...Then you can pay cash for a brand new truck and work when YOU want to , not tied to your Truck bumper as a slave.

I have a small 8 KW system and make a nice $325-$335/month for letting the sunshine !!

Just imagine what life would be like if yoou only had to wake up and see the sun shining!!!!...and Know your check is in the mail...

P.S. Time is the only thing we cannot get back....Use you Time wisely !

 

I have 11,000 shares of ARR..(A R.I.E.T).I get 13.2% annual yield and the dividends are paid out monthly.

 

Haha. "A R.I.E.T." It's a Singapore thing. Why did they pull out? That's the real question.

 

If you're serious, MN driver could help you to understand the business aspect. He bought a truck and now has a trailer and is running under his own authority and he did it with less than 15k, if I'm remembering correctly. He is knowledgeable and friendly, I'm sure he'd spend some time discussing this with you....

 

I also started with under 15k invested, and got my authority ASAP. I do have another business to so i was used to the paperwork which did help. The biggest help though was good friends that were already running on thier own, they helped me out and shows me how it works the first few months. It can be done on the cheap and don't waste the $$ on a new truck. Personally I never would of figured it out without good friends helping. If you really want to do it then find a local guy to help you. And don't spend over 30k of your cash, put the rest in the bank or an investment.

Of, and FYI when I hear someone say " I want to be home every night" , well to me I hear "I don't want to work hard". That is a huge red flag. If you want to get out there and make real money then you need to be ready to hit the road for a week at a time, and sometimes only sleep 3-4 nights a month in your own bed. Working hard like that when the loads are good will let you take a 3 months of vacation throughout the year and have some short weeks a lot too. But you only get the good time off if your Willing to bust ### when it counts.

 

Sound advice, think well diversified D.R.I.P. portfolio and ten year minimum time frame. (historically these kinds of investments double in value every ten years.)

The only way to get into the top ten percent is to figure out what that top ten percent actually is...... *hint* (It's not general freight)

 

At least the OP makes me feel a lot better about my situation except 160k is merely a drop in the bucket.