$100k Inheritance - What would you do?

[Jeff Sitti]

Hey BP - so I had a young man approach me yesterday with a question that I thought I would post here. He explained how he is receiving an inheritance of roughly $100-$125k, and was seeking thoughts on what he should do with it. 

Little background on him, he’s 20 yrs old, and doesn’t have much family to support him with this decision. So I didn’t want to give him poor advice, as this is pretty much going to be a blessing he may never get again.

Love to hear what anyone’s thoughts are.

[Greg Scott]

@Jeff Sitti  I hope you are a true friend to this person.     The first thing you should tell him is never go around telling people you have $100K and do not know what to do with it .  That is a recipe for disaster, and if it gets around there are hundreds of people that will provide him compelling ways to lose it all in "good" investments.

Alas, financial self-education is something that is hard-won and severely lacking in this country.   I would encourage him to take a lot of time to assess, take small risks at first, and learn as much as he can along the way.