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

Not everyone should attend college. But, there are a number of benefits when you complete your education. It can open doors for you and help jump start your career. It can provide the tools you need to move more quickly along your career path. Advancement usually comes faster with a degree and you will usually go farther with a degree than without one. Not every profession will benefit from having a college education. There are some career choices where you can spend a few months in a vocational school and learn a trade. I don't think that an education is ever wasted. It broadens your horizons and makes you a more well rounded person. It also teaches you how to learn and to set goals. There is a certain level of satisfaction that comes with completing a degree. It does depend on your career goals. If your goal is to be a plumber or electrician, you could likely benefit more from vocational school. I have a friend who worked for my dad when we grew up. He went in the service, became a physicist and later left academia to became a plumber. He started his own business and became quite successful. I suppose you could debate whether he wasted his time getting a degree. I don't think that it was a waste.

In this business, you don't need a high level of education in order to be successful. You will need the ability to effectively communicate with others and to be able to read and write. I do think that an education could benefit you. This is a rather unique profession. You can usually continue to work as long as you have a good MVR and can pass the physical. Most professions you will be pushed out at a certain age. In trucking, your age can actually be a plus.

 

With that kind of $$ I would invest in RE. There's plenty of REOs bank owned properties that you can buy cheap, under market and then rent them out with positive cash flow. If you buy them right you will never lose on them but you have to set it up well enough and get good tenants that pay. I'm doing this right now, there's no such thing as overnight success or get rich quick. It's get rich slow. There aren't many good investments right now.

 

With 100k id get back in to the internet you can make alot of money doing internet marketing i did for over 10 years and some ####### reason i got back into trucking lol
you can make that back in 6 months and never look back

 

What would I do if I inherited $100k ?

I would avoid taking financial advice from truckers. Hahaha

You could just put it in the bank til u need it. You don't need to go find a way to spend it.

Main goal imo: don't waste it.

 

I would go to Fidelity and invest some in Bristol Myer Squibb BMY which has gone up quite abit in the last few years. Put it in a 401K.

 

I'd invest in an income property if I were you. Buy a nice foreclosure start renting it out. That's just me though

 

Well I can certainly agree that you may not want to take financial advice from a bunch of truckers but then again you never know who you maybe talking to and that he may well have a huge portfolio stashed away, and be very knowledgable.
That happened to me a few years ago when I met John. He was a gas station cashier in a big supermarket chain in Austin tx and he always seemed a tad different. Very personable and unassuming.
One day as I was dropping the fuel I noticed he was online and tinkering with a Scottrade account. I asked him what he was up to and he said," oh, not much, just dabbling with stock options" that piqued my interest and we got talking about the option market and low and behold as he was tending to a customer I looked down at his account and Woah! Over $2 million on his statement. He later told me he just worked there to get away from his nagging wife and for the benefits. He was a retired businessman and owned a chain of gas stations, until he sold up.
So you see, you just never know.
Bristol Myers is an excellent stock BMY and has more than doubled in 4 yrs. not bad. Pays a 2.9% divi too. But I'm never a fan if putting all my cash into one stock but if I did I would seriously look at Tesla Motors TSLA. If you care to have a look it's up over 400% this year alone. A friend of mine just bought one. I wouldn't class BMY as a high growth stock so if you fancy a solid high flyer in the same group then Questcor Pharmaceuticals would be interesting . It's trebled in price this year.
my point is that you can certainly do very well investing in high growth stocks but you have to research it, study it intensely and know what you're doing. Never be a buy and hold investor. Putting money into a 401K plan is good as long as the company is matching, in which case the only way to go is a Roth 401K because then they're giving you free money tax free. I've done very well with those.
Good luck

 

I know of couples that bought a big sleeper truck and put them on here at Mercer. They are somewhat retired, yet make money to travel when and where they choose.
I somewhat do the same myself. Never enjoyed trucking as much since I come over here at Mercer.

 

No this isnt a joke ether, if I was you, I'd give the rest to me

 

How to turn a few thousand dollars into one Million: 30 years of growth and a very nice "IRA-Account", (word-pun).
The Model: 1 Million dollars, in 30 years, Walnut Orchard, size of orchard-14.3 acres. 1,000 trees. Trees used will be hybrid or grafted trees. Variety- Purdue#1, Tippecanoe, these cultivars have demonstrated sustained growth rates of .6 inches in diameter per year and cost between 16-20 per tree, buy more tree costs less. (.6" times 30 years equals 18" diameter log...18" diameter log is the min. defined size of Veneer. The end product is $1,500.00 per tree at the sawmill. To control growth the trees require irrigation pump, water holding tank and water lines running from the pump, tank and trees, also drainage ditches. To decrease operating yearly costs plan on decrease the water pumping costs...the more u participate with the process the better your reward. after 30 years working ur orchard your costs total costs in should be a ballpark figure of $90K w/return of $1.5 million. (this model is soley for the stumpage value not for sell your nuts after 12 years of tree growth.)

I Feel Nice, Like Sugar & Spice...so good, so good I got u. (Genuine)