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Anonymous
I'm a 20 year old student, and I just got awarded 35k from a settlement. Any advice? 2016-12-01 01:30:20 Post No. 1645280
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I'm a 20 year old student, and I just got awarded 35k from a settlement. Any advice? 2016-12-01 01:30:20 Post No. 1645280
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I'm a 20 year old student, and I just got awarded 35k from a settlement. Any advice?
Anonymous
2016-12-01 01:30:20
Post No. 1645280
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I have about 11k worth of debt.
8k in student loans so far, and 3k for a car loan.
I plan to pay that off, then that leaves me with about 23-25k.
Thats about two years and some change completely free school.
Think I should save it for that?
I've never had this much money in my life, and I don't know what to do with it.
I already have a car, I live under my parents currently and my food and everything is paid for. All I do is go to school, study, go to the gym, work one day a week to pay for gas and have some extra change, and just lay around being a potato.
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Pay off your debt and sink the rest into finishing school. That's what you get for going to college.
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>>1645280
Definitely spend it on school. Graduate debt free and set up for a good career. You'll be in a better position than 99% of Americans.
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I like the advice about keeping yourself debt free by the other anons.
The only advice I can offer is being smart about the money you have and not spending all of it. If I come into money, I do my best to invest it and then pretend I don't have it. Repeating this every so often is a great way to build a sizable security blanket over time.
I won't preach investing advice to you. Just keep in mind that any investment can have a negative outcome, even just a savings account, which results in a lost in potential from inflation.
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>>1645280
Pay off the debt. You get guaranteed return by not accruing and paying the interest. We also have a recession coming so I wouldn't invest it in the stock market.
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Pour all of it into bitcoin. You won't want to be a nocoiner in 2017
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>>1645280
Buy $land
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>>1645280
Get a job.
25k is 20% of $125,000 in rental property.
Stay at parents.
Save rents and find another property. Every 6 months or years re-up your home loans to pull more cash.
Study investing and real estate and personal finance and tax law.
Get llcso to hold houses and cpa.
Continue until u make a nice living wage with other monies to cover your expenses and speculating in real estate. Study other like ipoh or oil investing on the side. Grow that as true diversification.
Start /biz if u want.
Never work a conventional job and be multimillionaire in your 30's.
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