Hi Jow Forums. As title suggests I inherited a half million from my late grandfather.
I know little to nothing about investment and I was wondering your opinion about the ideal ratios between savings, safe and risky investments.
Other than the 500k I have about 10k in assorted crypto, and $60-70k savings. I have no debts.
Should I immediately diversify into some sort of index fund? I live in Canada and I'm precarious regarding the housing market on buying property (I'm in Toronto area). Since I see a lot of threads about the Canadian economy circling the drain I wonder if immigration to the United States would be the best options (I have American citizenship also).
I'd give anything to be in your position, user. Good on you man. In my opinion, invest into real estate. Invest into things that are rentable, and take it from there. Holiday homes, land, parking lots, etc. Maybe I'm wrong an my advice is dogshit, but it's something I'd personally do in your position.
Isaac Sanders
>Good on you man.
I am lucky to be born into my family because I a relative idiot but my grandpa was probably the smartest man I ever met and the $500,000 I inherited was a small portion of the fortune he left mostly to his 3 daughters.
Rentable assets seem a good idea. If I buy a house/houses in a student town I could see some stability of income because a steady stream of college kids would always be there and need housing.
Anyone do this? What's the stress level in renting to college kids? Seems a bit sketchy but rewarding.
Thomas Powell
I doubt you're an idiot - surely your grandfather shed some wisdom in your favor. My father made accumulated 10k within a year as a live-in landlord. As a divorced man who has things to pay for, 10k wouldn't get him far (especially when I came back and got in the way), but the point is that your tenants can pay off your mortgage within a decade. There are similar stories elsewhere, but you just gotta be smart about the location.
The most difficult part is finding tenants who don't have shit for brains and who won't screw you over. That's why it's important to ask for ID, host for people with certain professions and make boundaries clear from the beginning via contract. Companies exist that pay you, the host, to keep international students at the property. The benefit of this is that you're insured.
Adam Bailey
Give all that money to me, don't worry, I'm gonna invest it real nice - within 3 months I'm gonna double it.
Aaron Ortiz
I've matured in that the first thing I'd have done 3 years ago if I got this money is spend a chunk of it on an Audi so you're right.
Location seems pretty key. I'm familiar with a couple student towns locally because I attended 2 universities in 2 different provinces. Was reading an article about renting to students and in doing that you're actually renting to the parents so it's not too daunting.
Basically I want to establish a steam of income with this inheritance so that I don't fuck up and blow it within 10 years.
Jacob Martin
I wouldn't rent to college students. you want respectable, high end, responsible renters or none at all. the maintenance and repair costs you'll end up spending on shitty renters will not be worth it. it's also too much turnover. ideally you'd find good tenants who pay on time and stay for more than a year.
William Price
Find a gentle simpleton. Buy a small farm. Live off the fat o' the lan. Visit a brothel once a month or so. Get some firearms, some silver, some gold, stockpile some essentials that have 25 year to unlimited shelf lives. Build a small underground bunker. And then? Chill. Milk the cows, sow the seeds, butcher the livestock, maybe hunt a deer when you can, make some whisky. And I will be your simpleton.
Owen Butler
Take like 100k and invest in a rental property, but the other 400k in an index fund like VTSAX which will on average double in value every 8-10 years.
Play this right and you won't have to wagecuck past 40.
