i just inhareted $30,000 i am homeless, what investments do i do. i have paid on my credit?

Question

i am starting from the bottom i dont have time or money to waist please be serious.

Answer 1

do you have a job? A place to live? Some sort of transportation? 30K isn't that much and wont last you too long. Make sure to have your future set up by finding a decent place to live, a job, some clothes, and transportation. Don't try to go overboard and pretend you're rich. Then go and find a job so that you have money coming in from then on.

Answer 2

Are you physically homeless or do you just mean you rent? If you're physically homeless use the money to help yourself get a job. That means clothes, used car, residence, that sort of thing. You're most likely not going to be able to secure a home loan if you don't have a steady income even if you did inherit that money, so you're probably stuck with renting until you can get a job.

If you mean that you're a renter then use the money for downpayment on a property assuming you've been looking into owning your own property. Home prices in most areas of the US are low right now, so it's a good time to buy.

Either way I'd worry about establishing a job or residence and paying off any unnecessary heavy debts (such as credit cards or personal loans) you may have before making your money work for you.

Answer 3

How old are you? What debts do you have? Is that 30K before or after taxes? $30k can be gone in a flash so you must plan --- Where is it now? What rate is it paying?

You have a computer (or access to one) so you might look at ING Direct paying 4.9% on CD. Shop around.

Rent the smallest cheapest safe apt you can find --- you are homeless so you know how to live without junk --- do not relearn living with junk.

Think --- Plan --- take your time spending this --- remember for each of those 30,000 dollar bills or 120,0000 quarters someone had to die! So the price was high.

Put it away for 3 years (depending on age) and look for a job.

Answer 4

Do the following in sequence and you will become some one:

1. Rent a bed sit, get a job and a small second hand car.

2. Without any delay, pay off all your debts and do not have any again.

3. Save like hell for a deposit on a house.

4. When you have that, move in and rent any spare rooms. Use all the rent income and any spare income from your job to payoff the mortgage as quickly as possible.

5. Then, buy another house near by and you will be on your way to success in life. It takes a little effort, but can be done.

Answer 5

First, you need to have a job to pay for living expenses, rent, insurance, etc. . .

As for the $30,000, you should use part of it to get a place, get set up, and everything turned on. After that, put about 3 months worth of expenses in a liquid account (money market, savings, checking) that earns a pretty good yield.

The remainder should be invested in a term account (non-liquid, specified length of time) earning 5% or more.

The most important part is getting a job to support yourself. Good luck.

Answer 6

It's rather hard to be serious when someone claims to be homeless yet has an internet account.
If you want a serious answer, rent an apartment, buy some clothes and find a job, thus becoming a tax paying member of society. Take several thousand dollars and put it in an account at a bank, they'll help you through it, then you will have a "nest egg" to fall back on.

Answer 7

I would suggest getting an apt until you can find a house that you want. Sign a 6 month lease and invest some money, set 10 gs aside for a downpayment and go get a J-O-B!

Answer 8

You should start by contacting a reputable financial adviser - look in the phone book and be sure to check with the local merchants association or similar association to make sure the person is in good standing and reputable. You'll tell the financial adviser what your goals are for the immediate future and the far off future and he/she will be able to tell you how best to handle this money. You may also be able to get a referral from your local bank or the attorney who handled the inheritance. Good luck and God Bless.

Answer 9

Good, the inheritance will help to get yourself back up on your feet. First, get a place to live and pay off your debts (at least try) and then get yourself together to find a job or go back to school to learn something you really like. This might be your second chance, don't blow it.

Good luck on your new beginning!

Answer 10

If you are homeless, then establish a residence. Look into getting a used vehicle. Put food in your refrigerator. Then go from there. Save as much as possible after you get what you need.