Without going into too many details:
- I have / will have 20-30K saved up.
- I may not have any more, or very little, income coming in for the rest of my life, or for 1-3 years.
- Even if I do have money coming in, I need this money available at a moment's notice (health issues are very real and expensive)
The alternative is just living off this money until it runs out, and having it sit interest-less as I go through it.
What's the best way to make this last? The first things that come to my mind are to invest it in various stock options (but from what I've seen, the reliable ones require various commitments / are not available to withdraw at a moment's notice); investing in a house (but where I need to live, renting actually seems to be the better financial choice); looking for a high yield savings account (same problem with commitments, and also rates seem to barely account for inflation--am I missing something?--but this seems like maybe the best solution nonetheless); or doing something much more drastic (investing in some sort of business; relocating--but relocation is limited or impossible due to disability). Any advice? I'm exceptional at saving and have excellent credit, but that's about it. Standard advice doesn't work. Want to plan for the worst while hoping for the best.
Submitted October 17, 2018 at 02:20AM by whoiamidonotknow https://ift.tt/2pUaft7
