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Making the Right Decision with Lawsuit Money, Real Opinions, Please
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<blockquote data-quote="fedx" data-source="post: 5562256" data-attributes="member: 64891"><p>If you're getting that big of a settlement, I'd just put it in a high interest CD that has no risk. But if you are set on those 2 choices, I'd probably go with the car wash. Or buy storage garage units. That just sits there and gets monthly rent. Owning a route requires a lot of overhead......vehicles, employees, etc. When you have employees, you have all kinds of taxes you have to take out and government regulations and insurance, including unemployment and disability. And you have to worry about if someone calls in sick, you have to cover their route. And there would be a lot of pressure to make deliveries everyday. Employee turnover would be a big issue too. I would look into something that doesn't require much management like a car wash or storage units.</p></blockquote><p></p>
[QUOTE="fedx, post: 5562256, member: 64891"] If you're getting that big of a settlement, I'd just put it in a high interest CD that has no risk. But if you are set on those 2 choices, I'd probably go with the car wash. Or buy storage garage units. That just sits there and gets monthly rent. Owning a route requires a lot of overhead......vehicles, employees, etc. When you have employees, you have all kinds of taxes you have to take out and government regulations and insurance, including unemployment and disability. And you have to worry about if someone calls in sick, you have to cover their route. And there would be a lot of pressure to make deliveries everyday. Employee turnover would be a big issue too. I would look into something that doesn't require much management like a car wash or storage units. [/QUOTE]
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