Need advice on money

danyzo · 2019-02-13T18:26:32+00:00

I'm sorry for your loss.

Pay off all debt as you planned. I would not get into stocks at these levels. If you can buy bonds it will pay you to wait. Don't piss away your inheritance and don't tell anyone how much you have. Right now conservation of principle is the goal. Don't rush into anything and KNOW what you are investing in. If you don't understand it don't invest in it.

Good luck Sir!

throwawayofthedayhah · 2019-02-13T18:23:57+00:00

Also, I'm sorry to hear about your father. It is tough to lose a male role model. Keep the faith.

o0perfect0o · 2019-02-13T19:16:03+00:00

Index Funds. Absolutely do not invest in Gold or Bitcoin. Maybe a small, small portion in Gold for shits and giggles but I doubt we ever go back to that standard

throwawayofthedayhah · 2019-02-13T18:23:36+00:00

Hire a financial planner immediately. It is very easy to mess up a big windfall like this.
With the financial planner, determine how much of the windfall you will use on personal enjoyment. You might choose to take a vacation somewhere or to buy something nice.
Talk with the planner on what to do with the rest. It may be wise to get rid of debt first, but not necessarily. I don't know how it works in Canada, but in the US my mortgage debt is a deduction so my planner told me to keep my mortgage and invest my money because the earnings from my investments pay my mortgage.

b0660 · 2019-02-13T18:23:12+00:00

Invest in gold / Bitcoin (later this year)

2019-02-13T20:44:00+00:00

Dave Ramsey baby steps:.
1. Save $1,000 for a starter emergency fund.
2. Pay off all debt using the debt snowball.
3. Save 3-6 months of expenses in a fully funded emergency fund.
4. Invest 15% of your income in retirement.
5. N/A if you're MGTOW.
6. Pay off your home early.
If you do all of that, in that order, you'll have a solid financial future. If you're young and don't have a decent job, invest that money into education to increase your income. Ignore Dave Ramsey's religion references. His personal finance advise regarding debt is solid, specific investment advise, not so much.

catboxbob · 2019-02-13T19:55:21+00:00

a farmer told me once " buy land,it goes up in price as it is impossible to make any more of it"

dm-me-your-wallpaper · 2019-02-13T23:17:38+00:00

Family is something that none of us want to experience. Sorry for your loss. Pay off your debts first, then do whatever you want

VadeRetroLupa · 2019-02-13T23:28:09+00:00

Land. I’d buy land. If you got land, you can make your own food. If you can make your own food, you don’t really need to be that attached to the matrix..

padpump · 2019-02-13T19:27:23+00:00

Wrong reddit

aquaticscrotum6969 · 2019-02-13T20:12:04+00:00

Discover Dave Ramsey and follow his debt snowball. Good luck.

Most_Insane_F2P · 2019-02-13T21:38:20+00:00

Get rid of your debts.

Build money generating assets (houses, solar panels, farms)

Limit or not use consumables or depreciating stuff - including cars

Title	Need advice on money
Author	danyzo
Upvotes	14
Comments	22
Date	February 13, 2019 6:20 PM UTC (7 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/aq9m58/need_advice_on_money/
Archive Link	https://theredarchive.com/r/MGTOW/need-advice-on-money.512366 https://theredarchive.com/post/512366

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