Hey y'all I'll try to keep it as short as I can. Here we go. Getting a divorce, amicable and we're handling child support etc privately. What I need help with is: we sold our house and split the profit. All told I have $10k. Here's the situation. I'm currently living in a mother in law suite at my friend's property for $500/month everything included. Pretty sweet. I work as a house construction guy for $22/hr under the table. I have no debt. I'm thinking eventually I want to own my own small home, been looking at shipping crate houses or tiny home etc… I'm also wondering should I invest some of the money? I don't know anything about investing. Here's another thing, I was a stay at home dad for 13 years until recently. I basically have no social security and no retirement of my own. I'm 46 and I live in rural North East Georgia. I can't really move far because of my kids (they are still pretty young) and I can't do the work I'm doing for much longer as it's hard on my body. Advice please. If you need to know anything else just ask. Thank you so much in advance.
I need advice because I'm a fish out of water.
byu/99Yearstoosoon inpersonalfinance
Posted by 99Yearstoosoon
3 Comments
You need to figure out what you want to do long term and create 1, 3, 5, 10 year plans to get there. Once you know what the long term goal is the short term decisions become clear.
Trying to make a short term decision without a long term plan or goal is almost always going to result in the unoptimal decision.
1. Do you have any education or training that could help you?
2. Do you have an interest/skill that you’d like to pursue as a job?
I would look into what local libraries have on offer for free classes to get you started, work apprenticeships, community college certificate programs, etc
Just to make sure I’m clear, you are in your mid 40’s and you have a total of $10k? Do you have retirement account(s)? Any other assets than the $10k?