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Receiving a large cash settlement need financial advice

Discussion in 'Marijuana Consumption Q&A' started by bgibs, Feb 25, 2014.

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  1. #1 bgibs, Feb 25, 2014
    So a little less than a year ago me and my girlfriend were severely injured in  a car accident where the lady who hit me ran a red light. Im not one who beleives in suing but the first thing the lady said when I fell out of my burning car was " I didnt do anything wrong it was their fault." She didnt ask if i was okay, didnt show the least bit concern while im laying in the road bleeding out of my ear and my girlfriend is curled up in a ball with broken ribs...... Anyways im looking to invest my money instead of blow it all away. I live in CT and weed has just become medically legal. My friends and I have been talking about opening a head shop specializing in vaping e cigs vape pens etc. Vaporizers and dab pens have blown up where I live and everyone is into them now. Im just looking for some helpful advice and if you think maybe you have something worth investing in pitch it to me im not here to judge.

     
  2. #2 Koh, Feb 25, 2014
    how big was the settlement? i wouldnt just invest in something like a retail shop on a whim, thats a hell of a commitment and worth a lot of thought. 
     
  3. #3 Kush cookies, Feb 25, 2014
    You've gotta have a edge on the market, somthing that makes your store/stall/shop different from the rest maybe a funky interior with sound staff? Munching edibles... rocky road reffa? Its just if alot of new places are opening up similar to yours whats gunna pull them in to your shop?

    A bit like we run a pub people chose us over our competitors as we have 10 real ales compared to their 4. You need a edge, also remember tits sell everything!
     
  4. #4 BongHitsAndAcidTrips, Feb 25, 2014
    GO CONNECTICUT
     
  5. #5 Kush cookies, Feb 25, 2014
    ^^ sick username!
     
  6. #6 Grizzly Tracks, Feb 25, 2014
    Let it earn while you research.  Good time to "cool" off as well and reduce your likelihood of jumping to early.
     
    If you hire a "pro" to cut your hair, hire a "pro" to manage your money.
     
  7. #7 BrendanTen, Feb 25, 2014
    Last edited by a moderator: Feb 25, 2014
    Wait for a big company to give hint of announcing a new product that sounds very promising then invest
     
  8. #8 HipsterDoofus, Feb 25, 2014
    Invest the money for income, spend the income. Never touch the principal. Put some of the income back in, to grow the principal.
     
  9. #9 BrendanTen, Feb 25, 2014
    Last edited by a moderator: Feb 25, 2014
    Also a good rule of thumb is not to ask for financial advice on a weed forum
     
  10. #10 Heroic Dose, Feb 25, 2014
    dont invest in a business unless you made 10x your investment from the settlement. its likely going to fail.

    personally id buy land, throw a cheap prefab on it, and more or less retire. but i realize it isnt for everybody.

    if the settlement is under 50k and you dont buy land, invest in safe things. google, bonds, etc.

    if its over 50k, think of a mix of low, medium, and perhaps a small bit of high risk investment.
     
  11. #11 bgibs, Feb 25, 2014
    I like the ideas lol and i know it isnt the safest place to ask for advice but at this point its all hypothetical and i appreciate all the ideas given. I know investing in a business is extremly risky and thats why I figure this would be a good place to see if people have any advice that they could give from prior experience and trial and error.
     
  12. #12 vape2health, Feb 25, 2014
    If you choose to ope a shop, then you have to have a plan that helps off-set competing with the Internet. So what is something special that you can bring to the table? What you list is not much in the way of product offerings, so what will be different about those items to make someone want to purchase from you? Walk-in or Internet.
     
  13. #13 Kronny, Feb 25, 2014
    Look into opening a dispensary. It will be one of the easiest ways to make a return and not wait forever.

     
  14. #14 bgibs, Feb 25, 2014
    they just started building dispensaries in CT the law for medical marijuana was passed like 2 years ago im not exactly sure where were at but ive given it some thought.
     
  15. #15 Heroic Dose, Feb 26, 2014
    unless the guy got many hundreds of thousands from the settlement a dispensary isnt happening lol
     
  16. #16 Heroic Dose, Feb 26, 2014
    Last edited by a moderator: Feb 26, 2014
    dp
     
  17. #17 powderyflounder, Feb 26, 2014
    I wanted to open a store called "build-a-bong" and have it be like build a bear but with experienced glass blowers there that yoy can talk with for custom or sorta mix and match peices from like display cases and have them make it.I want it all from complete basic to totally heady shit.this is like my life dream.if I ever won the lottery I would start this right after I bought like 10 pounds of some raspberry kush.sorry for rambling im sorta fadedd.

    Sent from my SAMSUNG-SGH-I747 using Grasscity Forum mobile app
     
  18. #18 As Above So Below, Feb 26, 2014
    OP you never told us how much the settlement was?
     
  19. #19 s0mekind, Feb 26, 2014
    Please open up a shop in SoCal if this happens haha, that sounds pretty awesome. Or a online shop at least.


    Sent from my iPhone using Grasscity Forum
     
  20. #20 Bill O'Really, Feb 26, 2014
     
    Then supplementing that market with healthier alternatives to smoking through a storefront is a good idea....however, people will look in your store and buy online. Invest in something you are passionate about. Hell, buy a VW Vanagon, and start a weed delivery service.  The CanniBus...you can take people to and from the dispensary and do deliveries at the same time.
     And you can accept tips....of plants! I of course will need a small cut for such a great idea...and Name.
     
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