'I have a new lease on life': I sold my business for $130,000. It's the first time I'm not living paycheck to paycheck. What should I do with this money?

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'I have a new lease on life': I sold my business for $130,000. It's the first time I'm not living paycheck to paycheck. What should I do with this money?

//business-finance.news-articles.net/content/202 .. o-paycheck-what-should-i-do-with-this-money.html

Published in Business and Finance on Friday, January 31st 2025 at 4:01 GMT by MSN

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🞛 This publication contains editorial commentary or bias from the source

I'm in my early 40s, and I have worked myself into a sad state of health with the stress of running my own business for 15 years. In April, I pulled off the Band-Aid and sold my shares for about $130,

2025-01-31 260 x 130 / 3283 Bytes

The article on MSN Money discusses the financial journey of an individual who recently sold their business for $130,000, marking the first time they are not living paycheck to paycheck. The person expresses a newfound sense of financial freedom and seeks advice on how to manage this windfall. The article suggests several steps for managing the money wisely: first, setting up an emergency fund to cover several months of living expenses; second, paying off high-interest debts to reduce financial burden; third, considering investments for long-term growth, like retirement accounts or diversified investment portfolios; and finally, enjoying a small portion of the money for personal enjoyment or a significant life experience, while being cautious not to revert to previous financial habits. The piece emphasizes the importance of financial planning, consulting with a financial advisor, and maintaining a balance between securing one's financial future and enjoying the present.

Read the Full MSN Article at:
[ https://www.msn.com/en-sg/money/personalfinance/i-have-a-new-lease-on-life-i-sold-my-business-for-130-000-it-s-the-first-time-i-m-not-living-paycheck-to-paycheck-what-should-i-do-with-this-money/ar-AA1y71TT ]