My in-laws are in their 70s and need to unload some cash because they have too much. They said they have $200k for us, BUT they don’t want to invest it (and neither can we).
They said it can only be given to us to spend on a non-recurring, capital improvement type of things (believe me, I’m crying…). Ex. kitchen renovation, new car, etc.
Nonetheless, they did say they would consider using it to help us buy a new house (single-family only) and presumably we could rent our current house. But, it can't be "an investment property." Maybe buy some other asset? But what? Fine art?
*I need other ideas for this cash to work for us.*
I mentioned to them that we (in our 40s) are still positioning ourselves to be set up for the future. We also have 3 children. We're also in the initial stages of starting a new business (not our first rodeo).
How can we leverage this gift into an opportunity that will actually support our future?
Thank you!