I have $50,000, what should I do?

**profitsharing** · 06-08-2006 12:38 PM

I am a 26 year old who just graduated with a degree in Economics and Finance. I have a net worth of a little over 50 grand. I am completely liquid.

My question is,

should I pursue starting my small business
or
get a 9 to 5 and gain both capital & experience

If I start the small business I will need to borrow hundreds of thousands of dollars. Although my credit is good, borrowing that amount of money will be difficult as well as risky.

If I pursue the 9 to 5 in the area of my small business, the salary will be just enough to survive. The experience would look good on a loan application though.

If I pursue the 9 to 5 in an area outside that of my small business, the salary will help gain capital, but the experience would be unrelated.

**youngmoneyblog** · 06-08-2006 12:49 PM

are you prepared to risk losing all your money?

**profitsharing** · 06-08-2006 01:02 PM

Yes, I would be willing to not only loose all my money, but all your money too.

**tekmoney** · 06-08-2006 01:08 PM

You might as well pick up a 9-5 for a year or two to figure out what you want to do. Unless you have a business idea ready to go, don't go blindly into "starting" a business.

**youngmoneyblog** · 06-08-2006 01:12 PM

Originally Posted by profitsharing

Yes, I would be willing to not only loose all my money, but all your money too.

if you're willing to take the risk, i would opt to do it.

the job market is good now, you're likely to be able to find a job again if you need it.

**utkarsh.s** · 06-08-2006 01:35 PM

If you want to be really successful , I would suggest you to get a 9-5 job and then work late night for your business. I know that its difficult, but after sometime this would become normal, also this hard work is what will start paying off later. Goodluck!

**Booyeah** · 11-23-2006 04:01 PM

Lend your money at paltrust.com or invest it there!

**Mad Muppet** · 11-23-2006 04:22 PM

i would say take the risk now if your willing to take it, if you do loose than your still young you can get back into it, be must harder if a gf than family come along.

**akula** · 11-24-2006 10:55 AM

Originally Posted by profitsharing

I am a 26 year old who just graduated with a degree in Economics and Finance. I have a net worth of a little over 50 grand. I am completely liquid.

My question is,

should I pursue starting my small business
or
get a 9 to 5 and gain both capital & experience

how lovely. a fellow fin grad

Sure, that's a standard financial planning question, and I can help you arrive at a correct answer using a standard methodology.

Is this something you want to commit tio discussing, or are you looking for stupid, ill-considerate answers (not that there is anything wrong with that)?

**Eve** · 12-06-2006 10:40 PM

can i ask how you managed to obtain 50grand liquid at your age?

**paul2145r** · 12-06-2006 11:39 PM

Liquid Cocaine, probably...

Haha, I made a funny!

**sicnarftea** · 12-07-2006 05:10 AM

having 50 grand when you're 26 years old doesn't seem like a very hard goal to achieve Eve, if it was 500 grand or 5mil, then i'd really wanna know

**Dale King** · 12-07-2006 12:23 PM

I have no idea why someone would come to a public forum and make that kind of proclamation.

If you're telling the truth, you're only setting yourself up to get ripped-off.

Just because you have $50K doesn't mean you have to spend it.

Take a little tiny bit and start your own business.

Save the rest.

Dale King

**LightHouse** · 12-07-2006 12:49 PM

Originally Posted by akula

how lovely. a fellow fin grad

Sure, that's a standard financial planning question, and I can help you arrive at a correct answer using a standard methodology.

Is this something you want to commit tio discussing, or are you looking for stupid, ill-considerate answers (not that there is anything wrong with that)?

i agree with this. This phenomena is becoming more frequent as of late

**pbradish** · 12-07-2006 01:15 PM

Originally Posted by profitsharing

I am a 26 year old who just graduated with a degree in Economics and Finance. I have a net worth of a little over 50 grand. I am completely liquid.

My question is,

should I pursue starting my small business
or
get a 9 to 5 and gain both capital & experience

If I start the small business I will need to borrow hundreds of thousands of dollars. Although my credit is good, borrowing that amount of money will be difficult as well as risky.

If I pursue the 9 to 5 in the area of my small business, the salary will be just enough to survive. The experience would look good on a loan application though.

If I pursue the 9 to 5 in an area outside that of my small business, the salary will help gain capital, but the experience would be unrelated.

My honest opinion. Start up an IRA fund and get a 9-5.