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Start a business or buy a business so that you can make that $750K into millions. The barrier to entry in many businesses is startup-capital. So I would look
by mattgerboth 13y ago
Start a business or buy a business so that you can make that $750K into millions. The barrier to entry in many businesses is startup-capital. So I would look for businesses that have that barrier and start one OR you can buy a business and expand it. Many examples include: you can buy a hotel, restaurant, real estate, and many more. A good place to look for businesses is craigslist (believe it or not).
It all depends what kind of entrepreneurial spirit you have. I know that if I had $200k right now, in a year or two, I could make that into millions (this will involved lots of hard work). If you are not willing to do work then you can buy "absentee business" where the owner does not have to be there.
You can also become an "Angel investor" in a startup. But there are many startups and very very few make it big, so big risk if you do not know what you are getting into.
Just my thoughts, it all depends how hungry you are and how hard you are willing to work.
- X4 13y agoHow did you inherit that much money? I hope nobody died, but in that case you have my heartfelt sympathy! Do not think about the money now. Stay with your family and ignore that you have a little more cash in your bank account for a while. Take care! I agree with @mattgerboth, but I'd invest things first in order to raise the health and living quality of myself and my family to normal (no luxury). This part is up to you, but I'd save 40-50% in order to buy the stuff required that you need after you've bought that 0.5-1mm$ company for half of it's price (everything is possible with hard work, don't just accept the first offer blindly). When you know that the company is making profit, just help the company manage itself, because too much management is what usually makes things worse. You could also hire somebody who is knowledgeable in that area unlike those SAP Business Analytics bullshitters... Regarding family. You've not told anything about it or yourself. Don't you care to let us know about it, or do you want to remain as incognito as possible?