Poll

What do I do with 200k

invest in realestate
2 (12.5%)
pay off home and school loan
13 (81.3%)
buy a franchise
0 (0%)
buy a small piece of land and put a used trailer on it to rent
1 (6.3%)

Total Members Voted: 15

Author Topic: What to do with 200k  (Read 2742 times)

robquinn2005

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What to do with 200k
« on: September 02, 2014, 08:34:26 AM »
Hello,
In 2 years I will receive 200k and I don't know what to do with it. About me 38 years old sole provider of family of 5 with 2 small kids and a motherinlaw I support. I work a job I really don't like but it pays the bills. I make 40 per hour but I work contract with no bennifits and no vacation and I have to travel away from my family. The other problem is I am unemploied 4 months or so a year because I work job to job. Currently I have a 50k student loan and a home I owe 180k on in Texas.
I dream of owning my own business or quiting my job and fliping homes or something like that but I have never had the money to do it.
What do you think, should I use the money to pay off debt or do I use it to invest in a retail business or realestate business. 
If I don't plann this out right I know we will blow the money on crap we don't need. Im tired of living pay check to pay check with no savings or net woth.  what do I do HELP......
« Last Edit: September 02, 2014, 08:49:13 AM by robquinn2005 »

boarder42

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Re: What to do with 200k
« Reply #1 on: September 02, 2014, 08:37:11 AM »
There are many more options than those listed. I would pay off student loans and put the rest into VTI and VXUS

Jacana

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Re: What to do with 200k
« Reply #2 on: September 02, 2014, 11:05:29 AM »
2 years is a long way away and you are dissatisfied now. Maybe you can post a case study to improve your current situation? Then when the money does arrive, 2 years from now, you'll be in a much better position to decide what to do.