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Originally Posted by blankall
I'm not sure how #2 is the "least likely" to make financial sense in the long term.
Option #3 is a huge huge risk. The restaurant/pub industry is probably the riskiest business you could find. They fold all the time. Plus, I'm guessing the amount of money you inherited wasn't huge (IE that much over 100k) based on the way you are talking about your options. The startup costs for a pub are going to be huge and you'll probably have to get a major business loan in addition to exhausting all the money you inherited.
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You're overestimating the startup costs. It depends on what you're doing of course, but I was planning for a small thing. (I know a guy who has several places here in Helsinki check my math for me.)
As to pubs folding, that's something you have to accept when you get into the business. Spend accordingly and move on when your time has gone.
Really the pub thing folded because you have to pull crazy hours to start with and I really felt like spending more time with my kid now.
Maybe when I'm fifty or something
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Honestly, I don't see how getting an education, especially if it's in an employable field is a risky option at all. Currently your qualified to drive taxis. How is diversifying your job qualification risky.
Basically, what I'm saying is, you've made a good choice. The only other choice I would have made is buying a property (but I may be in the minority on that one, based on this thread).
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Statistically I'll propably end up as a teacher, a bureaucrat or a scholar. Considering I'll be around 40 when (and if) I graduate, it's very unlikely that I'll get to the what qualifies for good money in any of those fields. All have starting salaries that are less than what I was making as a cabbie. (Although you have to do less hours for the same money.) And all of those fields put together have less openings at any given time than what the demand for cabbies is in Helsinki. Especially good ones. You can make really decent money if you're good cabbie, and I am/was.
Especially when you consider the fact that I'm eating away my money instead of investing them for those university years, the chances of me making up for those "lost" years is about nonexistant.
Basically I'm spending money so I get to study something I'm truly interested in and so I can have a life outside of my job, which was difficult while driving. Those are absolutely things worth spending money on, but it's not really an investment.
Hypothetically speaking though this might be end up being the difference between my wife ever finishing her thesis, which would make a huge difference in her salary and job options.