**Life Situation:** I’m 23, in the United States. I’m currently working on a master’s degree and have about 1.5 years left in the program. My bachelors was in business marketing.
**FIRE Progress:** $10,000 in cash savings, $28,000 stock portfolio which was closer to $50,000 before the market took a dive. I entered the market when I was 18.
**Gross Salary/Wages:** Currently not employed, and use my college fund (529 fund) to cover expenses as I’m taking a bit of a break after graduating college last year (worked since I was 14). I do plan to pick up a part-time job soon (3-6 months) until my master’s is done, then I’d like to jump into a career-type position.
**Yearly Savings Amounts:** Currently just saving when I can. No static contributions at the moment.
**Current expenses:** Nothing notable (covered by 529)
**Assets:** Vehicle- its a bit rare and KBB lists a high end private party sale at $50,000
**Liabilities:** No debts/loans
**Specific Question(s):** Due to a death in the family, I’m being given $40,000 of inheritance. Market turbulence has me wanting to hold on to that lump sum for a bit. With this being the case, I began thinking of other options rather than chucking it into my usual ETFs.
I looked into P2P lending, but due to my age and subsequent lack of a career, I’m well under the threshold of financial stability and asset values needed to become a lender. I simply do not have the net worth required, even though they advertise opening an account with “as little as $25”.
I’ve looked into passive income stuff before, but determined it was sort of slim pickings for anything *truly* passive from beginning to end.
I checked out some real estate opportunities, but the market seems to be heading in a “something’s gotta give” direction, so I’m unsure if this a good time to buy.
Then I toyed with the idea of taking a more business-centric approach to the whole “passive income” dream. Simply put, I have my business degree, and I have the time/money to start something up. It’s more so that I’m willing to put work in to something that could eventually end up as being passive. Preferably something online.
But then that brings me to the root of the question: Should I stick to the classics of what’s recommended for FIRE, or take on something a bit more high risk. What would you do with $40k in my position? (aside from 401K stuff, I’m familiar with the necessity)