I'm will come into 100-200k in the next two years

[Anonymous]

Due to an inheritance.

I wasnt sure if I auld out this here or in jobs but thought I might get alternative suggestions to the core plan here.

I work in an office staring at a computer all day. I hate it. I had originally thought we'd out this money into a house or college investments but I've been thinking more and more about trying to start a business. Something that requires more real interaction with people, going places during the day, doing physical things but making an income (hopefully) comparable to what I make now (120k).

Is this crazy? Is this enough money to do that? Has anyone done that and have advice on like business classes I could take to learn the basics? Types of businesses that do better statistically than others? Is love to open a book store but I know those aren't exactly moneymakers these days.

[Anonymous]

What business? That's pretty critical.

[Anonymous]

What skills do you have? What talents do you have? That would lead you to believe you have a lucrative business idea? We need more info here.

[Anonymous]

What industry do you currently work in?

[Anonymous]

I've been a project manager and in communications. I'm pretty smart and capable and feel like I could learn most things. Was thinking about buying a b&b or a wedding venue. Kind of welcome to suggestions though.

No interest in the food industry. Bookstore would be my real dream but I feel like no one buys books anymore.

Also thought about a wedding planning business out of my home.

[Anonymous]

You may want to test the waters a bit while you are still gainfully employed. If wedding planning is your thing, try doing that on the side to see if it's of interest. I think it would be hard to make 120K doing that unless you were able to get high-end clients.

[Anonymous]

How old are you, what are your expenses? Starting off in another field entirely is probably not going to start at 120K. Would you be o.k. making less for a while?

[Anonymous]

Airbnb has killed that market. Food has tight margins, but since there is no time to cook anymore, it is a better option. My Spouse makes way more than you do and sets the hours. Food is pretty sweet to be in. I think if you research this more you will discover that starting your own business will most likely lead to bankruptcy unless you are willing to work very hard and have incredible talent in something that happens to be in demand.

[Anonymous]

Anonymous wrote:How old are you, what are your expenses? Starting off in another field entirely is probably not going to start at 120K. Would you be o.k. making less for a while?

Yes I'm ok not making as much. My husband makes about the same so we won't go into the poor house. We do have a 2 year old and one on the way but we've been handling that fume so far. We're about to move, have a current mortgage of 2500 a month, no other debt.

[Anonymous]

And I'm 31

[Anonymous]

Anonymous wrote:Airbnb has killed that market. Food has tight margins, but since there is no time to cook anymore, it is a better option. My Spouse makes way more than you do and sets the hours. Food is pretty sweet to be in. I think if you research this more you will discover that starting your own business will most likely lead to bankruptcy unless you are willing to work very hard and have incredible talent in something that happens to be in demand.

So if this is the case what can I do eh this money to make it as valuable as possible, maybe allow myself to be able to go part time and downs more time with my family, minimizing office time

[Anonymous]

Anonymous wrote:

Anonymous wrote:Airbnb has killed that market. Food has tight margins, but since there is no time to cook anymore, it is a better option. My Spouse makes way more than you do and sets the hours. Food is pretty sweet to be in. I think if you research this more you will discover that starting your own business will most likely lead to bankruptcy unless you are willing to work very hard and have incredible talent in something that happens to be in demand.

So if this is the case what can I do eh this money to make it as valuable as possible, maybe allow myself to be able to go part time and downs more time with my family, minimizing office time

So you want to start a new biz but are already thinking of going part time to spend more time with your family?! Are you nuts?! Sorry, OP, but you already lack the attitude it takes to make a self-run business a success.

[Anonymous]

You are unhappy in your job, first change that. The inheritance is secondary and won't be enough to change your life.

[Anonymous]

Anonymous wrote:I've been a project manager and in communications. I'm pretty smart and capable and feel like I could learn most things. Was thinking about buying a b&b or a wedding venue. Kind of welcome to suggestions though.

No interest in the food industry. Bookstore would be my real dream but I feel like no one buys books anymore.

Also thought about a wedding planning business out of my home.

B&b aren't in demand. You have no experience in wedding planning or the contacts in the industry to cut deals with so where's your profit?

Consider buying a franchise.

Honestly though, starting your own biz is a lot of work and you don't see the return until 5 years later. Are you sure your current computer job is as bad as you think?

If I were you, I'd invest that money and watch it grow. It's a good chunk of money no doubt, but not enough to quit your job (and the benefits) and gamble it away on a biz venture you clearly have not done thorough research on....especially not in this area.

[Anonymous]

I wouldn't gamble with an inheritance. Particularly when you don't have a strong passion for something in the first place.

I agree with looking at a franchise. I'm considering the same.