So had sit down with my father earlier today going over his life insurance and he told me I am going to be left $300...

So had sit down with my father earlier today going over his life insurance and he told me I am going to be left $300,000. He doesn't want any kind of fancy funeral, he just wants to be cremated in the cheapest way possible and I can do whatever I want with the rest of the money,

My question is what's the best course of action once I have that type of money? I'm thinking of paying debts and buying a house but not sure. I was also thinking of just taking $50k and putting it in an emergency fund just so I have it. I also wanna splurge something but not sure what the safest amount to have as "Throw away money"

Basically I'm going to be getting at least 300k at some point, whats the best course of action?

Get a drug habit

You should always pay off your debts first. After that is done with, then you can worry about things like investments, stock market, making your own business, etc.

Invest in Suicide, buy tons of suicide equipment and start a store selling to depressed people.

Call thr business "EasyWayOut LLC" and promote as a ironic witty liberal company. With this in mind youll get thousands of people donating to your business if you gain media attention doing it. Make sure people sign a waver saying you dont know what theyre doing with their goods.

Yeah like that other guy said, pay off debts, invest. Research dividend aristocrats its stocks that pay good dividends. With 300k you could live a hobo-tier lifestyle forever.

Or do that with 200k and research markets and make good investments with the other 100k.

Go to school learn a trade or at least a business degree. What do you do for work now?

Shut the fuck up, you give the advice to Op to SPEND his money on random bs.

He should start his own business with that kinda cash.

Didn't finish school, working at consulting firm who helps colleges with phonathons and annual fund.

Not the flashiest job but it's good hours and pay for no degree.

>father dies
>300k starting
>OP's face when

Cocaine
Pay for intercourse with 8+/10 women

Checkmate atheists.

>Be op's Dad
>Be born with nothing
>Had to scratch and claw your way through life to take care of yourself and raise your family
>accumulate a modest, but hard earned 300k
>Son instantly loses two thirds of it all by buying imaginary Internet money called bitcoins because the business board on a weeb site told him it was going to the moon

Due to my dad's position in an international ******* ******* if he ever dies im going to be left with 100 million Mexican pesos.

But I never think about it to much because it makes me sad, not having my dad around

Fuck off Pablo, if my dad died I get a fucking 150 thousand. I want him dead now so I can cash in but he's in semi-good health. Money above all else even family you damn mexican.

100 million pesos is like $3,200 though.

No? Wait 4-8 years. Trump.

>Semi-good health
well how old is he in the first place

thats bout 4,877,399 USD
probably gonna be worth 2 dollars in a few years thanks to our shitlord presidents

Annex our shit sempai, end our suffering

Hmmm, are there legal ramifications for that biz? I sense a growing demand but maybe just hanging around the chan too much?

A real business with 300k sitting in cash? What? Like what? A 30% stake in a gas station or liquor store? A fucking pile of sand and a truck to sell to frackers? What fucking niche will he exploit for 0.3? Shut the front door.

300k is nice money but its not money enough for a real business.

>> just start a business man hyuck hyuck hyuck

Most business fail user, there's no guarantee he has ANY course of action, and there's no guarantee it will work out even if he did.

It's not your money so try not to give awful advice. user has a nice nest egg that can grow and lead to a very very comfy early retirement if he doesn't make poor decisions. That's better than most people will ever get. If he's comfortable with the risk of starting a business then that's his choice.

37 cronic alcoholic but has a great paying job as fire chief in corprate buildings in nyc

OP here and similar to what says I'd rather not take too big of risks and just wanna live comfortably for the rest of my life.

I don't really know anything about stocks, bonds, investments but essentially I don't wanna live too much out of my means, maybe move out of my apartment and buy a house but I don't wanna new fancy car or other shit. I just wanna have a nice pillow to fall back on, some spending money and maybe put the majority in something that builds decent interest.

Businesses is a great focus point to create more money down the line from the initial investment. He doesnt have to use it all into that if he doesnt want to but saying most businesses fail is like saying most cars crash. You have to get into one to use it properly and if OP himself wants a way of keeping steady income instead of investing in wall street AKA Legal Gambling he can do the logical thing and focus in on a business field he's invested in.

Victoria's Secret was started by an insecure faggot who didnt like how he felt buying linguere for his wife. Come on man.

Don't spend or plan on spending money you don't have, it's the wrong mindset.

Also, don't tell anyone. Money comes and goes, it's nothing. Creating and maintaining wealth is another ballpark.

Oh no I'm definitely not planning on spending shit I don't have it's just he's really not that well, even he doesn't expect to be around by the summer.

I'd just like an idea of what to do with the money that makes sense instead of going on emotions and spending it all over.

Yeah I don't plan on telling anyone. My father and I talked about this as well. My mom and him have been divorced for about 16 years now and while they're still friends I'm not really close but he told her that whatever I want to do with the money she has to accept and she understands, for now, she doesn't know how much I'm getting.

My siblings all live on their own and didn't really make an effort to see my dad, I've been with him since I was 11 and have been taking care of him when his health really started going downhill a couple years back.

Right now the plan is that once he dies the funeral home will have him cremated asap and once that's all said and done I'll contact family and close friends, this way no one can come in and guilt trip me into giving him some lavish funeral he doesn't want.

As for money right now only him and I know about the $300,000. Outside of that my best friend knows my dad is leaving me money but doesn't know the amount (definitely didn't think this much).

I plan to keep it up under wraps I'd rather not deal with people out of the woodwork who want my money

You are delusional. Everyday people have great retirements through investment vehicles like 401ks. You seem to be under the impression that everyone wants to run a business and you are dead wrong. The stock market as brought an average return of 7% for a long time now. Compound interest is a great thing.

You're example is a great demonstration of survivor bias. Think for every one successful business in the same market as Victoria's Secret 100's failed. He could be the next big winner, but odds are he won't.

Let's say the stock market shits the bed and his investments tank a lot. If the market is that bad what makes you think his business will survive? As he gets closer to retirement he can reign in his investments to safer thing such as bonds and be less susceptible to market volatility.

You are delusional sir.

So I don't know your personal financial situation, but there's a few red flags in your post OP.

Basically, if you're figuring out ways to spend money that you haven't even received and you have some level of debt, then I have to assume your not doing fantastic. So even though 300k is a substantial amount of money it will only temporarily remedy your situation. I would suggest hiding the money from yourself. You could put it in a long term CD right away so that you can cool off and maybe put yourself in a situation where you are earning enough to have your debt cleared up, and you can live with the comfort knowing if shit hits the fan you have something to fall back on. But don't rely on it, don't rely on it at all.

Right, again be careful about who you tell.

It's important you take your time making a plan and don't rush into anything. Learn how to invest your own money, lower your costs.

Don't burn through the cash buy bying cars or living an expensive lifestyle, housing you can't afford, risky investments, gifts, etc. Fund those things as part of your regular income and budget and if you have income, use the extra cash to boost your 401(k) and IRA savings. Assuming you're young (under 30) taking higher risk is fine yet still within a margin. But I'll emphasize again to take your time and don't keep all your eggs in the same basket.

Well theI debts under 8k. Just unpaid medical bills which is small compared to my friends who have hundreds of thousand debt

Honestly I just want a little spending for myself, a safety net and then put the rest away somewhere I can gain interest