can someone please help me out! very desperate - irresponsible person

[Isabella Mendes]

Hi,

I have $400k that my husband left me after the divorce. I never worked my whole life and I'm not finding jobs...seem to be procrastinating. Im also very irresponsible with money. I need to do something with this money so it's locked for me to dont spend everything and also I need to figure out a way to get some income every month so I can support myself. Can you please give me suggestions? I need to decide asap!

[Bill B.]

A “desperate and irresponsible person” should not invest in real estate and definitely shouldn’t lend out their money. You might as well light it on fire…

If you need to invest it more dangerously than a CD buy a home and rent spare rooms to co-workers, friend, relatives. But this also leads down bad paths for the desperate and irresponsible. Maybe buy a duplex, live in half and have a professional property manager handle the other half. If you currently rent you’ll save that money. If you currently own and it’s appreciated, sell tax free. If you currently own and it hasn’t appreciated, NM, go back to the CD.