>be me
>30
>born into total, abject poverty
>Inheriting roughly $30k in an IRA
>Inheriting $82k in life insurance
>owe $45k in student loan debt
>sat down with a banker, scheduled a meeting next week - he is going to try to convince me to pay off all loans, start a Roth at $10k and dump the rest of the money into stocks
What do I do, Veeky Forums ?
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all in on bitbean
put it all in ARY and hold for 2 years
Great image
What Simpson episode is this from?
>pay debt
>wagecuck
>split investment between stocks and crypto if you wish
not sure what other advice you could get here
>pay off debts
>all in bitcoin.
>dollar cost average in. 10% per week for the next 10 weeks.
>100K bitcoin in 2021.
Season 7, episode 8
youtube.com
This OP. Trust the beans and hold.
Continue making minimal paymenta on student loan debt. Set up that Roth with at least 10k. Put a few thousand into ETH, MOR, POLY, NEO, etc. coins with dividends and just relax and sell later this year.
If you're not into crypto, just put some in Vanguard ETFs. Maybe Alphabet, Seagate, Amazon, etc.too
Don't forget to spend a few dollars on you though.
OP you literally will never again experience a better time to get into crypto than right now. Even if BTC tanks further to 4k, it won't stay there for long. And once we regain 10k, 15k, it's never going below that again.
Sure, 6 months ago would have been an even better time. But that time's past and all you have is right now. And right now is a golden opportunity. I'd say take at least 50% of your inheritance and stick it in blue chip cryptos, ETH, NEO, OMG, VEN, maybe some REQ and LINK if you want more risk. Keep cucking along with your student debts for another year or two, using the money to pay them off right now will be a huge opportunity cost vs what you'd make investing it in crypto.
If you put 50k into safe crypto bets right now, there is literally no way you won't have 500k by 2020. Unless Clif High is right and aliens wipe us out this summer, but it won't matter where your money is if that happens.
>Pay off debts
Don't do it if you have a fixed interest rate on the debts
>Invest in stocks
Don't do it. Wait a year and you can scratch the top performers of today from the dead bodies of those who bought in 2017/18
>What should I do with my money
Unironically stock up Xanax, heroine, weed and alcohol. Drug economy is the only economy that rises during a depression
1/3 Crypto -> half of it BTC. Rest in solid Coins. Max 10% for gambling sub 50 (better sub 300 coins or ICOs)
1/3 Silver and Gold, Physicall!!!!!!! Ounces etc.
1/3 Stocks, conventional stuff
Pay off all debts. Stick rest into your own home. Most rich people are rich because of 1 thing: real estate.
Pay debts. All in Omisego. Retire 3 years later
If you're an amerifat this will be a 'beneficiary IRA'. You can choose to cash it all out within 5 years, or you can take Minimum Required Distributions every year based on your life expectancy until it's depleted. I would keep the IRA, and put the yearly MRD's back into your Roth or other investments. Invest the IRA in low-fee index funds like Vanguard.
Unless you absolutely HATE debt, you should keep the student loans and work on paying them off. It's low-interest debt.
For the 82k:
use a chunk to establish an emergency fund of 6 month's expenses. put it in account you never look at.
You may be tempted to pay off your loan. If you absolutely hate student debt, do it. But I would recommend keeping them. It's low-interest, tax deductible debt.
Put 5% into a mixture of blue-chip coins and more speculative ones.
Invest the rest of the money in Real Estate - whether your own home of a rental prop.
And that ofc!
make each 1/4 and add improvement, house, car, cloth, healthy and Veeky Forums lifestyle. If white breed with white woman and never tell about crypto.
>pay off all debts
no no no. Horrible idea. Student loan interest rate is what, 5, 6, 7? Why pay it all off now when you can stick the funds in crypto and make bare minimum 20-30% annually. More realistically, 200-300%.
1. get rid of your loan debt
2. get some kind of pension
3. get a few stocks (likely to keep growing, but not faster than real inflation imho)
4. get a gun and a car or other essentials. wait on a house until about 2020-2024
also put 5-10% in crypto if you can. I highly recommend the vehicle if you're in the US. it's a great time to buy if you want one.
Life is better without debts user. Speculate with what you can afford to lose. As long as you have debts, you cannot afford to lose anything. Debt means you are part of the 99%. No debt means you are part of the 1%. Even if you own just 1 dollar and are debt free. Welcome to the 1% user. Feels good not to owe. Next step: own your own home. No more rent to pay.
That's awesome thanks man!
Do you have a job?
1) Get a job no matter what it is
2) pay off debt..or some of it. Add more to your monthly payment than you normally do if youre gonna go that route of not paying it all.. i dont get why people say no need to pay off debt interest is interest and shit sucks
3) Invest some of the leftover money in stocks/mutual fund/etf (if stock market i would wait till it goes down more. Friday was a really down day and i feel there are more of those in the year.. youll get some discount blue chips for that portfolio)
4) 5-10% of money in cryptos (something you dont mind losing)
5) keep some in cash or savings (3 months of salary)..not a lot but you never know when shits gonna come up
6) if you have leftovers i would do an IRA.. if you feel youre gonna need the money before 70 1/2 then do a roth
Pretty much exactly this, op. Don't listen to the boomers. Show the world You can make it, even from a harsh childhood of poverty. A lot of us know how it feels
>bitbean
>buying stocks at ATH
You're going to get jewed and the guy is going to charge you annually while you lose money.
I think Clif is betting on the ayyy lmao prediction so that everyone won't be mad at him when his crypto predictions are all wrong in 2018.
People who grow up poor who then suddenly get some money tend to lose it all. Don't be one of those. Put half into good long term holds, other half into a duplex. Rent one unit to pay the mortgage and live in the other.