I am a 21 year old male college student currently living in North Orange County. I am preparing to inherit about $250,000.00 from a family member's estate, and I am somewhat unsure of what to do with the money. I am a full time student, and I only work a few hours a week. I profit about $10,000.00 max annually from work, so I need to make a significant return in order to pay my annual bills, which total about $20,000.00 right now.Here are some key points to consider:
- I do not have any school bills to worry about. I am studying to receive my BS in Business Administration and I will graduate by 2009.
- I have about $10,000 in debt - mostly medical bills - which I plan to eliminate immediately.
- I have extremely poor credit at this point in time, so I'm assuming I should avoid investments such as real estate which will yield a high interest rate every month.
- I need to purchase a car, and I plan on buying a used car in the neighborhood of $20,000.00 - $25,000.00
2007-09-29
11:20:48
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8 answers
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asked by
Jordan D
1
in
Investing