I'm about to run into 55k from a lawsuit

I'm about to run into 55k from a lawsuit.
Be realistic with me, how much of this do I invest and how much do I just fucking spend. I'm 21, still in college.

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What’s the lawsuit?

use all of it to pay off your current loans

Damn I’m retarded. I read that as you owed 55k from a lawsuit. Yeah pay of your student loans sounds like a smart idea.

>still in college
Pay off whatever debt you have and save the rest. You could have a down payment on a house before your peers and that's the ultimate flex.

I would indeed invest some of it. The stock market is coming up out of a rut and prices are still somewhat lowered. Places like amazon might seem expensive to invest in now. But realize that it will only get even more expensive in the future. They doubled in value from 2017 to 2019

I would just spend in comfortable life.
Saving is dumb if you don't enjoy your life.

University can be finished without any loans if you are smart. Buy a car that will run well and last a while, but don’t spend more than half at the very max. Invest the rest.

Not having a car payment will help your monthly finances, and saving 25k for a rainy day is optimal. That’s basically like half a year’s medium salary, which isn’t much, honestly. You could easily have to pay that just for medical procedures if something came up unexpectedly.

It’s a step in the right direction. It will give you a point from which you can start saving for important things like retirement or a house if you choose to do that. Nothing worse as an adult than being buried in endless debt because of unexpected expenses.

What are you studying? Chance are you'll have to reskill in ~10 years anyway, so you might as well just spend it. Does the 55k include the lawyers cut? You should set yourself up to live comfortably for a while, and then park the rest in a bank account and ignore it until you need it. I'm assuming you're American, so I'm sure some day soon you'll trip and sprain your ankle or something and accrue $55,000 worth of medical debt in like three days.

what the fuck happened that you get 55K from it? were you raped or something? i gotta get me some of that

I got hit by a car.
I have an old car that's paid off and no loans.
computer science, 55k is after lawyers cut

Is the car still in good condition?
If you really want to spend it, mught as well use it to travel. Do not spend it on some balenciagas shoes or gucci socks brother. Of course, if you are on a financially stable position, invest the whole thing on AAA investments (absolutely no risk, but low reward), I tell you this because you have a good sum to start and enough time to actually make somtheing useful out of your money.

Invest in a diversified portfolio. All of it. It's a big seed that you can plant and make grow into a lot more money.

Depends my man. 55k is not a lot to invest if you don't know what you're doing with it. You might just be better off putting it in savings and not touching it. Talk to some banks and find the highest interest accounts you can and let it accrue, touch it as little as possible.

To make sure you can stick to the rule of touching it as little as possible, give yourself up to $1k of it to buy something you really want, and then when that money is gone it's gone.

>I'm about to run into 55k from a lawsuit.
You're assuming that you're going to get a big lump sum. You're not.

now is the best time to invest
everything fucking tanked

Too early to start pumping onto equities, we are still due one major crash.

1. Pay off all current debts and bills.
2. Put 45% of what's left into a bank. You won't get much interest but it will be safe.
3. Invest 45% in a no-load index-linked mutual fund from one of the big fund companies - Fidelity, Vanguard, etc.
4. Spend 10% on yourself

Pays all bills.
Buy one kilos of gold.
Profit from the rest but be reasonnable.

Life is short. You couldnt survive at this so be wise .

>How much do I invest
Pay off debts and then invest the rest.

All college

First you have to pay your bills and debts. Then you take 10% for yourself and invest the rest.

Spend it all on paying off college debts.

Don’t invest any of it. Literally save every last penny and then go back to living like you never had it. Now you have an amazing start on your life savings for the future if you want to buy a house, or if anything happens and you end up needing it.

Invest 45k in something that is long term, low risk, and have whatever firm you use reinvest the dividends of interest. Keep 10k for living and as a slush fund. Maybe invest a bit in something short term. Ignore the long term investment for as long as is possible, living on your earnings with your job. Retire early.

> No loans

Great, Put 20K away in cash on a savings account. This is a big part of a down-payment for a home.
Put away 10K for your emergency fund
5K for use on fun
20K for investing. And maybe instead of investing in overvalued stock markets like right now, you could invest in additional classes, professional software development tools, a specialised computer and programs for it, things that will help you in your further career and give you more options.

until you know what to do with it just save it. You can always do things with it later.

put 40k into bitcoin and watch it turn into 400k when the mining rewards get cut in half after May 2020
every other advice posted here is complete utter trash that will decrease your purchasing power
buying 40k of gold or silver also works, but not to the same magnitude

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>op dies the next day and someone else gets to enjoy the money
Spend it however you want. Invest half of it.