Greeting to you all. I seek financial advice from you guys. My uncle who happens to be a contractor has been winning several contracts, but when the money comes all his plan becomes void simply because he I'll end up going to parties, drinking, womanizing and living a luxirious lifestyle. Although he is married and had kids but his youthful exhubirant has not yet left him even as his married and it's causing alot of problem in his family. When he has no money he thinks straight but when money comes he becomes unpredictable. He has really sufferd before he had this last chance he made over $5000 now he is seeking for financial advice, so I decided to bring up to this humble room to hear from you guys.
So what do you guys think he would do with such money to financially stabilize without going back to zero point?
The first thing is that from the achievements of your uncle that you have mentioned, it seems that even if he has a huge wealth, he will not be able to control it. A lot of money is also spent in such activities. Secondly, $5000 is not a big amount of money to start a good business these days.However, as far as I am concerned, if he is on the right path, he can increase his capital with these five thousand dollars if he works hard.
If he has knowledge about crypto currency then he should invest in good and best project from the market. In other case small businesses can be started for five thousand dollars, for example, If he can work hard, a small poultry farm can also be opened from which he is likely to get good income annually. Along with this, if he tries in the field of agriculture and tries to grow crops on lease of some land, here too he can get a good profit. For a former contractor, both tasks will certainly be easier.