Just got a settlement from a lawsuit, no family or obligations what should i do with the money?

really tempted to livestream (discreetly somehow cuz can't do that shit in casinos) me throwing it all on roulette it'd be a fucking killer rush but when/if i lose it all then i'd probably drink myself to death

cool, i'll check it out. thanks for the tip user

invest in marijuana and dior bags

Seriously?

Calculate how much you spend annually, then determine if you could live on this for the rest of your life if you didn't change your spending habits. Put it into a tax-free savings account with portions going to a retirement savings plan of some kind, invest, and so forth. Hell, if it's a lot of money, you can invest in real estate or money-making ventures that provide a high rate of return. Have a meeting with a financial planner at your local bank...they might have ideas on what can help you make even more money.

Consider it a bonus in life: use it wisely. Granted, you could die tomorrow...but what if you don't die for another 40 years?

What I would do? All of the above regarding financial planning, but I wouldn't put everything into this. If I got, say, 1million dollars in a settlement, I'd invest/save 950,000 of it, and blow 50,000 in a year just buying shit I've always wanted. But that's just me.

Congrats on the settlement user. Just remember to think of the future if you intend to live for a while.

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good advice user, thanks

Are you working user? How would your situation be if you didn't get the settlement? If we knew more, we could offer more precise advice...

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how much money u got u fucking idiot

I just got a job at McDonald's but haven't gotten paid yet ive had some really bad panic attacks the last 2 days and idk nothing helps with that useally except bud you could send me money for weed or even send me cbd herb youd be really making a difference in my life

how much money u faggot?

Kek

I have some passive revenue streams (enough to live modestly) and currently working remotely part time

hope it gets better man, i don't send bitcoin to anons though sorry

How much?

not a ton, 50k

more than i was expecting and just enough to ask for advice

i make half that in a month u fucker

>25k in a month
what do you do?

>Invest it in bitcoin
That's what I would have said 2 years ago.

lol, keep larping faggot cuck-wage slave

buy the most reliable vehicle you can, like a toyota 4runner, tacoma, etc.. money well spent, you can live in them, travel everywhere, those vehicles will run for 500k if you maintain them well... one of the most important things in life besides a home base is a reliable vehicle.. if you can get a used toyota a few years old, and a trailer / camper, you could travel all over for pretty cheap.

I think there's some pretty good advice here. You could try Rwanda - pretty safe.

I would seriously travel to remote parts of the world that nobody really gets to see if I had the money. Like literally just pick a spot from google maps that you want to go to and make it happen.

You think so?

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Okay, well, the timeline is the biggest issue.

If you're in your 20s, then it's a shitlong time to go if you don't plan on an heroing. You not only have to save, but you have to invest at a good enough % that you not only gain against inflation but that you gain above that mark.

If you're working, you have to ask yourself if you'll be working in this field forever, getting higher and higher pay as you go along, or if you'll be changing work, stopping work, etc. Will this windfall be the only thing you have to help you in times of distress?

Finally, are medical expenses something you have in a system, or is it something you pay out of pocket? As you reach your 60s, medical costs begin to take hold, and by your 80s it's not only the issue of actual medicine, but also hired help (to help you bathe, clean up, cook, etc.).

Then maybe you're a trad, who wants to get married, have kids, etc. then you not only have to make sure you budget correctly for all these costs, but you have to consult a lawyer to figure out how to protect your assets in case of divorce. This all depends on the legal issues of where you live.

Then you have to think about where you'll live, how you'll pay for transport or insurance on your car, etc. Financial planning is actually a shittonne to do, but once you get it rolling, and get into correct habits (this % of your paycheque goes to this automatically, this other % goes to that, etc.), then you never have to worry.

Passive revenue streams are awesome; maybe you can use the money to either invest so you have more of them, or into better passive streams that create more revenue with less risk.

Jesus...50K? Okay, then things change. Save all of it, invest as much as you can, and only spend $1,000 right now as your 'prize'. It'll make you feel good, and you'll also feel okay knowing that the rest is going to better your future.

Perhaps if you have any debt, pay it off now. Maybe that's the head-start.

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dropselling?

No manufacturer a product, drop shipping is as good as the next person who can buy the product and drop ship it, also drop shipping will quickly screw ur metrics up and get u banned

good advice. So this is the big question, do i pay off ALL of my debt (~20k) and invest remainder or do i just re-invest and continue working? My credit is good and I autopay well above minimum every month.

damn, that's rad. how did you get into that? what type of product?

Move to south of spain.
Buy small country home. Build on property.
increase value. live life.

Pay for Brandon Tarrent's legal fees

sounds spendy

kek, do they have death penalty in NZ? or is he just gonna do life

>or do i just re-invest and continue working? My credit is good and I autopay well above minimum every m
Your gonna need some more money than that, take that money start an amazon business, make your own product, get a good idea, get a design for it, u wont have enough to get this fucker patented, and who knows if will even be a good idea, but take that cash and sell something online that is uniquely made for you, remember that fucking thing you might have seen on tv or online that has a bunch of wires, think its a universal socket, basically you dont need different sockets, you just need one, create something like that, well not that specifically, but unique like that, that solves everyday common problems everyday keep fucking thinking of an idea and a way to solve a problem eventaully ull have a ton of fucking ideas, alright kid get to it, dont take anyone elses advice here get to work

well goddamn

The 'common' rule of thumb is to pay off debt as fast as possible. The reason is that unless you're investments make a higher % of interest than the interest you're paying off on the debt, you'll simply be losing money longterm.

If you have 20k debt now, and you got 50k, pay off all the debt immediately as long as you can guarantee that you won't be in that debt again (I assume it's post-secondary education?). If it's a house (mortgage) then the argument is different, and with cars it's dependent on a lot of other factors.

If you paid off the debt, you'd still have 30,000 to invest and so forth, so you'd still 'win'. You won't be able to spend it at the beginning though...the best thing to do would be invest and 'forgetaboutit'.

In terms of savings, the first thing you need is enough to keep you well for a year to 2 years of complete unemployment. Have you got that saved up yet? If not, park it there (again, find a high interest savings account). If you have that done already, then you can start other things (retirement savings, then health related savings, then rainy day fund, and stuff like that).

Just be aware that my 'advice' is the same as what you'd find on Investipedia or other parts of the web. It's not a secret or anything. It's just a series of goals which you try to aim for, and after each one is accomplished, you're safer than you were before.

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that all sounds reasonable, I think i'll pay off all the credit cards and then do some research on high-interest savings accounts park some there, then do some traveling before I go back to work (late 20's) my biggest concern is that i'm gonna blow it but i think I'll be good if I just keep working and take advantage of the time instead of blowing it abroad

1) Absolutely: Pay off the credit cards now.
2) Look at Investopedia.com: after a few articles, you'll never want to spend money on crap ever again.
3) Beware of the fine print regarding high-interest savings accounts; they usually have limits in terms of how much you can put in per year, and they may have penalties for you taking money OUT of the account.
4) Diversify: it's not just a meme, it protects you against total collapse.
5) If you're going to travel, travel on a budget. If you go for 2 weeks, maybe one night you can spend in a 5-star hotel...but the rest should be in safe 2-3 star hotels at a good rate. Similarly, spend frugally for souvenirs, but budget comfortably for food.

Depending on the country you go to, you could have a great exchange rate or a poor one. If you've never gone anywhere before, don't go to an expensive country off the bat (UK, Norway, Iceland, etc.). Just beware that countries with great exchange rates with western currency (Philippines, Mexico, etc.) could be less safe than you're used to. The memes are real...in Brazil don't ride a motorbike unless you have a gun to prevent someone stealing it when you're stopped at a red light. In China, be careful on escalators. DO YOUR RESEARCH!

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>DO YOU OWN RESEARCH
heard
>In China, be careful on escalators
???
good advice, will do honestly been broke my whole life until i started making 6 figures relatively recently so i'm new to a lot of it
will checkout investopedia

Got it. Yeah, I recently started making money too, and for the first 2 weeks after the 1st paycheque I was making lists of shit I'd always wanted to buy and now had the chance to do so. But honestly...after you've read about how money essentially becomes 'dead' once you've purchased something, but how you can keep money 'alive' by investing it so that it works for you as you sleep...well, you'll never want to buy anything again, and furthermore, you'll look around your room at all the things you've bought in the past and simply see 'dead money' lying around. It's fucking scary actually, but it shines a light on why companies spend so much money to advertise and encourage us to part with wealth. Our consumerist culture is a tragedy.

Also, never forget:
>interest is theft, unless you're the one collecting.

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without even going down the investopedia route yet, i've already started "looking around the house" and thinking the same thing. it's fucking true. pretty crazy. half this shit I don't even use let alone got the money value out of it's just me being an idiot consumer. Lesson certainly learned in that sense though. yea consumerism is good in certain respects as far as driving technological advancement but a lot of it is garbage pedaled to people who don't know any better.

The concept of "dead" money is wild. It's obvious but it isn't.

I appreciate the advice user, seriously. Another thing I was considering is moving to a low cost of living state while making 6 figures (remote) Ideally some place that isn't a complete shithole but maybe somewhere i could buy some land but that's probably a little farther out.

It shocked the hell out of me too. When I was younger (basically, until I started working), I would save up to spend money on something special. You know, you get some Christmas money, and you go out to the mall, but you only have so much to spend (20 bucks was good, 40 bucks was a fortune that you almost felt guilty about), so you had to choose wisely. After the agonizing decision was made (because it would feel awful to go home empty handed), you bought and cherished something. Then you'd spend the rest of the time between birthdays and other money gathering events planning what you'd buy next. Consumerism impacted decision-making in a huge way.

For me, now that I can afford everything I've always thought about (aside from huge things like a bigger house or shit like that), I find that I no longer have the desire at all. When I spend money, I feel like I'm losing money. I panicked for a month straight when I figured this out because I thought that I was losing my mind. A part of me, the desire to accumulate goods and buy everything I've always wanted...that desire was now just...gone, disappeared. It's been a few months now, and now I have no regrets and I'm a lot happier than I was before. The weight has been lifted. I am still saving for my car, but beyond this I no longer think about the luxury watch I always wanted, or the clothing or whatever...the random cool things. Now I just think, 'can I make the retirement goal this year' or 'how about revisiting that investment opportunity I decided against last month'.

No problem...it's a hard road, but if you do your research, you'll be far ahead of the game. Regarding moving to a low-cost state, again, do your research. Why is it low-cost? What societal issues will you encounter? Will the low-cost be offset by things like hurricane/tornado insurance, medical costs, etc.? What about issues of crime, or self-protection (gun laws, can you use a firearm efficiently, etc.)?

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cont.
Places that are cheap to live always have a reason why. Similarly, places that are expensive to live also have a reason why. What you have to do is determine:
1) Is the living quality better than where you are now?
2) Is it going to be good for the next 20 years (you have to estimate, and try to predict, looking at demographics in particular, but also natural disasters are a key issue as well)
3) How about your job prospects there? If you can keep your normal job, that's great...what if you lose it...can you find another in the area, or will you have to move again? This can affect your finances significantly.
4) Spouse, etc., and their working situation.
5) Social happiness: are the people there nice? Are they in poverty and sad/drunk all the time?

There are so many questions to ask, and you need to have an understanding of all of them before you decide.

I wish you luck user. I live in a big city, and I don't plan to move (due to work, family, etc.). But I like it...my escape is my house, so I have no complaints. But if I had a few million lying around...I might get a cottage out of the city to spend summers at, near a quiet lake. But it's not a necessity at all...just an extra comfort.

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I can relate to this 100% (i'm sure many others can too) I definitely don't care about the normie consumer shit I used to but the veil is only now being truly "lifted" so to speak.
yea, thanks again, this is solid advice. Really got me thinking. I live in a big city ATM (high rent but no spouse/children/job here, a lot of remote options). A lot to research. I think this is definitely a turning point for me regarding financial future and future decisions in general. Thanks again wise user.

consumerist culture also preys more on the poor, if you are a poor user that breaks the cycle, nothing feels better

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A pleasure. Here are a few other thoughts that came to mind that might be of help.
1) Consider extending your research into the demographics and financial well-being of your clientele. In other words, try to determine to the best of your knowledge if the people who normally pay you for your services are in growth, or in decay. If in decay, you may have to protect yourself in case of sudden layoff from your company, or you may have to plan to move to another area where people are more willing to spend money on what service you provide. All of my recent financial decision have been made with this in mind; my clientele must be well-off to afford my services, so if I moved to a city where the upper middle-class is disintegrating or disappearing, it would be a terrible idea.
2) The grass is always greener. If you move to another place that is more remote, consider going there for a week, spending time in a hotel if possible, and interacting with people in the city/town as much as possible. I had a colleague of mine who had to move to a small town in the middle of nowhere for his job...it was well paying, but after a year of this he and his wife couldn't stand it any longer because the people were boring and there was nothing to do in the city. They couldn't make friends with anyone, and they got depressed because they felt alone. A week of scouting will give you some indication of this, especially if you take public transit.

cont.

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cont.

3) If you're a hetero, then when you visit have a look at the ladies. If it's a small town, and you see nothing of value, try going to church one Sunday. If you still see nothing of value, run. If you have to live in a small area like this for longer than a year, you'll hate it. Or your standards will drop.

4) Make sure you know the general political leaning of the inhabitants. It can make life hell if you don't agree. Same friend ended up taking a job in Tallahassee, in an area that was Trump country. They are not like that, so they hated the people there too. No matter what your political leanings, if you live in a society where everyone around you thinks differently to you, then you'll feel awful.

5) When you visit the town, find out if you can enjoy your normal hobbies there. If you like the gun range, make sure there's one there. If you like bowling, etc. Similarly, this might seem strange, but make sure you can service your car at a reputable place in the town. It's one thing to have to rely on a shitty local plumber, but it's another to get scammed on your car if you can't drive it to the next, better city.

That's all I can think of for now. Good luck.

You are so fucking right. The last time I was at a mall, I couldn't help but think of all the waste, the thousands of square feet of waste filling up the whole thing. And the lemmings buying it...or drooling over it. It's kind of scary.

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yea, this is what i think about a lot.
def pros/cons and money isn't everything if you're bored/miserable. I tend to get bored easily which is why I prefer bigger cities. I can stay at home but there's always something new to do/experience (and sometimes the comfort of knowing that brings happiness in itself if that makes sense, like a psychological comfort of some sort)

Yep, all good things to consider, thanks for your input user. You've given me a lot to think about and I appreciate it. Probably the most low-key life changing feedback i've ever gotten from a post on here.

It is. The concern, which at least for me I think I've solved, is whether or not you're good 'alone' or if you require people in order to feel happy. This extends directly into your concern about getting bored easily if you're not in a bigger city. What precisely do you get bored about? Is it a lack of things to do (i.e. movies, the symphony/ballet, art museums, sporting events, etc.) or is it the human interaction (bars, sports clubs, etc.) that you get bored without? You have to be honest with yourself about what you require. You mentioned that you didn't have any family to worry about. So, then you have to consider if you are desiring human interaction in a big city (where it's varied) or if you're desiring something 'to do' that isn't directly about interacting with another human. If you're watching a baseball game, you don't talk to anyone but you cheer as part of the crowd. It's completely different (of course) if you're sitting in a bar talking to a cool girl you met at the supermarket that day. You don't have to tell me, but ask yourself what you need. Then you'll know more about why a small town might be a bad idea for you.

I appreciate it user; I've had to make many of these decisions myself VERY recently, so it's all fresh. Just promise to 'carry it forward'; when another user asks, 'just came into some money, thinking about moving to a new city, changing jobs, etc.', just be sure to give them advice from your experience. It's difficult for men to help each other in 'the real world'....so we must do our part to help them in 'the netherworld'.

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