I am recently widowed with 4 kids under the age of 14. I ended up with a life insurance payout of $80,000. I was a stay at home mom who had previously made only a small amount of part time income, and because I live in Canada I now make almost enough from the Child Benefit and CPP and child support (I'm also divorced :/) to cover our expenses. I rent, I have no assets, I have student loan debt, I have a car loan, but I have already paid off our credit cards.
I want to keep part of this money for savings, but I also want to invest the rest so I can improve my situation. I live in a very expensive area where buying a house with this money isn't really an option. I might be able to get a tiny tiny condo and that's not a terrible idea if I got it in the right spot as an investment.
I've thought about investing in a business, funds, land, AirBNB properties, you name it. I need some real advice. Thanks!
Submitted May 01, 2017 at 10:21AM by sandblastersmash http://ift.tt/2pnBM6L
