No idea what category this would go in so I'll let the mod decide that. Soon I'll be receiving a windfall from a sale of real estate from an inheritance of a dead relative. I'm expected to receive around 50k after taxes. Being a young American male, what would be the most ideal thing to do with an amount of money like this? I'd like to invest but I am an amateur. Thanks in advance!
Too bad you don't know much about investing. My parents invest and my mom turned 35k into 300k in less than 5 years. I have less than 10k invested, so I can't day trade (multiple trades a day/week) but I make an extra 300 a month on average with about 3 companies. This would be a great time to think about your future instead of blowing it on cars drugs and other shit. Or put a down payment on a house and save rest for mortgage payments and sell off the house within 2 or 3 years and turn a profit.
Invest it back into real estate....do your homework, 50G's can go fast. Consider buying a home you can improve and live in while doing so...maybe turning it over in a few years, making a profit and defraying your living expenses...not to mention the write offs you will be able to claim on taxes and renovations...
I love travelling as well been to over 40 countries. You could live aboard where the cost of living is very cheap so you could save your money and make a business online through ad revenues on a website,blog,YT etc or whatever way you can make money online. In south east asia their cities are just as developed as some western cities but except it's so cheap to live there not only that but very a nice place to live. Except avoid Manila and Jakarta. You could live like a king on $500 a month and still have a high quality of life. This is a good site to look for places. BKK is number 1 and I would agree IME and also my all time favorite city to visit if you haven't been definitely come over one day - Nomad List — Best Cities to Live and Work Remotely for Digital Nomads
Put it in a savings account, let it accumulate interest .. until you finally come up with an idea on what you want to spend it on. If I had 50,000k, I would probably travel to the US, travel to Europe ... .. buy myself a DSLR camera, a professional studio mic .. ... what not. Then again, I've never inherited anything, and probably never will, fortunately. I wanna earn it all on my own, it would be a bit weird if I inherited something, it would feel like it's not mine ...
If I was young again I would put 45k in a savings account. Put the other 5k in a checking account for incidentals. Then look for organizations that will provide housing and meals while volunteering abroad. Some will also pay a small stipend for living expenses. You could have experiences that will last a life time and when you get back have a nice nest egg for housing, college, or whatever you want when you return. Investing in Housing or stocks can be great investments but neither are something I would want to do if I might end up in a remote area in a foreign country where I couldn't manage the investments.
My vote would be anything that benefits your future. Whether that be investing, education, etc. 50,000 really isn't as much as it sounds, in my opinion, unless you make the most out of it with the added benefits of it being A) money you hadn't relied on / expected and B) you have it all there at once. Like somebody said before, 50k goes fast. I've seen people turn that kind of cash into regret very quickly. Good luck!
Start up a weed farm in Oregon or Colorado. Bank. Slap some solar on it for future proofing energy needs. Close loop cycle of cash at your disposal after that. Not to mention weeeeeeeeeed!!
At your age I would put 45k in a savings account until your older/wiser....don't rush to spend it. Use 5k to help stablize life.
Land. Its all that mattered 100 years ago, and all that will matter in another 100. Money means less as energy gets cheaper. When energy is free money is useless. But land....land is always gold.