Lost my job, have 15k and want to use it to work for me instead of getting a job for someone else. What would you do?

7 Answers

  • 3 weeks ago
    Favorite Answer

    The popular thing to do nowadays is to be an entrepreneur and start your own business. Yet most small businesses don't survive the first couple of years. So if you do that, you would need startup money for the business, plus money for your own living expenses. In my mind, it's too big of a leap. Fifteen thousand is small potatoes. I went thru $10,000 of my savings in a year in the 1990's to survive, when unemployment ran out.

    If I was you, I would swallow my pride, and get a real life job. From there, you could save your money, and start a business more intelligently.

  • Jay
    Lv 6
    3 weeks ago

    I heard somewhere that you can get a Chik-fil-a franchise for $10,000.00

    That leaves you $5k for other stuff.

    Seriously, look into franchises.

    Check the Excellence-Success site for information.  Sometimes they havelinks to where franchise fairs are being held.

  • John
    Lv 7
    3 weeks ago

    36 years ago I spent that in the first month of opening my business. Which I am sitting at the desk of right now.

  • Anonymous
    3 weeks ago

    You cannot usually earn enough on $15k to replace a job. But its not impossible for service businesses like Carpet Cleaning equipment where you do most of the work.

    If you were to invest it in a high paying dividend stock, yielding say 7%, you would only earn $1050 a year.

    I started flipping cars with less than that way back when but it took me about a year of learning & reinvesting profits before I was earning even 75% of what I could elsewhere.  It would have been very difficult had I not lived at home.

    Now, the laws are much harder than they were 30+ years ago. And some states are even harder than others. For example, to get a dealers license now, you must have garage liability insurance and a car lot with a sign on a commercial lot and a landline phone in the business name.

  • How do you think about the answers? You can sign in to vote the answer.
  • 3 weeks ago

    I would get a job.  

  • 3 weeks ago

    15k is simply not enough to provide adequate income...

  • Anonymous
    3 weeks ago

    Your 15k is going to be gone in a heartbeat if you do not get a job. 

Still have questions? Get your answers by asking now.