Some backstory is that I am a 22 year old male living in SoCal with my fiancé. She is almost done with school (within this year) as a web designer, but we both work together at a high school as instructional aides for mentally challenged kids. We make $20 an hour (increases $1 every year) but no benefits as we are technically subs, and our hours have been cut substantially due to COVID. Rent hasn’t been an issue yet, but potentially could be if we are continually denied hours because of COVID. Our only debts are our car, and her student loans, but have around $10k saved and $5k invested.
Clearly we aren’t going to be able to live comfortably on this wage and cut hours, so I want to do something that will provide more for us, especially with her finishing school soon. Though her job can be really well paying or not at all in that field, so we won’t know.
Now to myself, I am a really fast learner and just want to do something that is secure and makes good money so I can provide. I have looked into trades and software engineering. I don’t have any experience in manual labor but i’m very keen to learn, same with coding/software engineering. Here’s the kicker, I have around $50k of inheritance I can use for school, or have in cash when I turn 25. I would really like to stay away from school as it was never my thing, but it’s always been an option. I was thinking the inheritance could be used to squash debt immediately at 25, and have that money to feel a little more comfortable/safe.
Should I use the inheritance to go to school and get a degree, or get into a trade? And how, i’m so clueless on the directions to take in order to do so. Thank yoi so much in advance!
EDIT – We plan on having 1-2 kids together, and most likely moving out of California.