All Forum Posts by: Isabella Mendes

@Isabella Mendes

If you’re worried about money, the best things you can do for yourself is learn to get and keep a job. The 400k won’t last forever.

I recommend not making emotional rash decisions (OMG don’t buy real estate or lend right now!), and instead trust the advice you’re getting here. I recommend the CD at 5% for 6-12 months and learn to keep a job.

Your strong financial foundation needs to start with developing a work ethic and appreciation for the value of money. You’ve told us that you don’t have these traits YET. I didn’t either 10 years ago, but they can be developed.

You’re trying to play high level financial literacy by worrying about inflation. Stick to the basics. CD and get and keep a job.

 Whoa, slow your roll. This is when mistakes are made. Do just like Bill said, get a 6mo cd & breathe. Take that time to educate yourself & formulate a plan. There are honest people to get advice from, but there's even more that want your $. FWIW at least your in Florida, there's opportunity there. 

@Isabella Mendes, if house hacking is an option, by all means, explore the strategy. That being said, what most people are trying to get across, is don't purchase an asset immediately for the sake of doing so. Real estate investing is still risk-inherent. Needless to say, you need to take precautionary measures to affirm you're acquiring a sound deal. Read, "Real Estate by the Numbers" by J Scott and Dave Meyer. The resource provides a good overview of financial literacy fundamentals and sound real estate assessment. As someone who is "very irresponsible with money", do not rush into any investment. 

As others have mentioned, you should pause before making any long-term investments.

Take some of the money and maybe consider learning a technical skill.

$400,0000 x 5% is about $20,000 a year.
I think you get about 5% at a bank with no risk.

Have you determined what your annual budget is?

Would NOT recommend investing in real estate if you are a procrastinator!