Freelance
Description
I am 21 years old and currently in my third year of university studying to become a ship captain. I live with my father and the only thing I own is a motorcycle that I use to commute to work and university. I have around 7,000€ in my bank account, but I will use it all to pay the inheritance tax of approximately 7,800€. I am about to inherit my mother's property, which is currently for sale for 700,000€. I share it with my sister (equally split). We will need to pay off the remaining mortgage of 216,000€ and estimated fees of 10,000€. My main long-term goal is to work on a ship, but it is currently difficult as there are not many job opportunities. I would like to know if it is possible to make a profit with an investment fund (I have no knowledge) or to buy a property and rent it out, and eventually move in myself. However, I am not sure if it is a good time to buy as prices are high and I am worried they may decrease. I also cannot keep the money as I will have to pay more taxes. Thank you.
How do you feel about managing and organizing your finances? Inheritance
What stage are you at in your professional career? Studying and working
