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

Dont open liquor you need a lot more money then that. It will be gone before you know it. Build out, liquor license, state license, city license, health permit, building permit, fire permit stock ,insurance (business general liability, liquor liability, worker's comp, unemployment insurance) taxes to state, tax to government, mc for workers, ss for workers. These.are.just to name a few im sure.there are other things . I know I own a bar and I have to pay.all.these plus some. Needless to say, I.spent all my cookies and now iv decided to do.what iv always wanted Drive, as far as pay for me heck I make about $100 a month now.

 

look around on copart.com they often have rigs that are run and drive certified, and need little if any work. at times i have seen rigs that are exceptionally cared for, and look brand new. because its an auction based system, you can score a nice rig for just a few grand.

 

Save it and keep working for that tank company you can thank me after you retire. $130K in this business with the wrong truck and/or wrong business plan wont last you 6 months and it not gonna get any better with the government coming up with new ways every 6 months to get more money out of the pocket of trucking companies and O/O

 

I heard this when I first started trucking.I was told by everyone I came across, when I paid cash for my truck, that I have nothing to depreciate. I need a payment. some would brag, my payment is only $1,500 a month! just for the truck. I was told my $ 15,000 cash truck would not last. it had to be a hood. not just A hood, but an expensive chromed out hood. paid 30,000 total out of pocket for it all. over 14 years & still making money in the same truck. took less than 6 months to get my original investment back. sometimes the key is what do you depreciate? truck related? some form of I.R.A.? real estate? other?

 

Hello,


I would certainly speak with a financial planner. Depending how old you are and what your goals are, but if you no longer have any debt you could possibly think of retiring earlier. 1st thing I would meet with a planner to explore all your options.

 

Financial planners are there to help you not lose your money.
They will very seldom (almost never) help you make real money.
If you were the type to make real money you would have already had a few ideas before you landed with this seed capital in your lap.
My suggestion would be to buy some rental property as some have said before.

As for your trip to the Smokeys and Shenandoah enjoy.
Did those with my family last year and really enjoyed it , breathtakingly beautiful.

 

why do people suggest college...the OP is 41..no offense but i would hate to have to go to college when im 41.....and now days you can google enough about something to figure out what your doing before you ever start.. and college is designed to help you "make money" , seeing how he has money he doesnt need to wait 2+ years for no reason...college is a SCAM..except that most employers require a college education for high paying positions.there just arent enough high paying jobs to go around.. basically why go to college for HVAC if you can buy the equipment and google that #### then learn it on your own...because after you go to college you need to work for someone to have your degree pay off...and thats what the op is avoiding..school is overrated and overpriced..dont waste your time...and check out LTL Freight maybe ..lower start up costs..but to sum it up ...school is not a good idea...also why pay off debt if you have enough money to not need credit for the next few years..everything bad will go off your credit report anyway..credit is also a scam....or you could try backyard oil drilling at $25k a hole to see if its oil..but if you strike your a millionaire..kinda risky tho..you got 5 chances tho..thats what the op should do...

 

"college is a scam",,,,"school is a not a good idea",,,,now I've heard everything,,,,,

 

When you are making $8000 a month you afford to pay a $600 a month school loan. Agreed colleges are over priced but one can still benefit from an education almost immediately after graduation. Grant it there are some that get useless degrees but the majority succeeds.

 

Anyone who has a degree has proven to me that they have a level of self discipline.