rowdya60
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talk with a financial planner. if you don't know any, try to get recommendations from friends or acquaintances. being able to trust him/her is very important. |
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gary b
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Depending on your age, some portion should be invested in higher risk investments: stocks, bonds. A rule of thumb is that 100 minus your age should be in stocks (i.e. if you are 45, then 55% should be in the stock market)
Diversify! Do your research. Start with a great book: A random walk down wallstreet that discusses how even the expert (with their large fees and commissions rarely beat the market)
Consider and research:
1: Index funds (cheap and tax efficient)
2: Large cap funds; small cap funds; US funds and foreign funds.
3: Bond funds
4: REITS
Once you know what each of these are, then you can invest. Invest slowly.
Watch out for insurance and annuity salesmen! |
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mmenaquale
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OK, where to begin?
1) Don't ask answers for help, ask a financial adviser. They know more about this than most people on here including myself. Since it's a large sum, pay the extra money to get someone good. Perhaps talk to someone locally who has a lot of money. People who already have a lot of money typically know how to keep it as well as others who can help you keep it.
2) If i had to guess, I would say that your inheritance falls under the capital gains tax classification, in which case, kiss about 25% of it goodbye (if not more, depending on pending legislation). |
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JOEGIN149
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how much$ |
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insuranceguytx
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Talk to a financial pro. Talk to as many as you need to until you find one that you trust. |
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aloneinga
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I would contact a bank and ask them what kind of accounts they have available. If you still don't like what you see, i'd contact a CPA (Accountant) and see what they recommend. Good luck! |
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enal88
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I would agree with the facts given by he/she on top. The other scope in making money ; you may apply some synthetic as to generate fast & high return perhaps .. just a slice ($ 25k) fr what you have. Seek for expertise ; i am. |
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rohan1827
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urbanbulldogge
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If it is only 500,000 you probably have nothing to worry about.
The Estate tax (or death tax) does not apply to amounts less than, I believe, $500,000, but that number may be higher now as it changes every few years.
Any taxes would only be paid on the amount OVEr the 500,000.
As for gifting the money, you can gift up to 11,000 to a person each year tax free. Any amount over that is taxed 50% (so a 15,000 gift would owe 2,500 in taxes).
As for where to put the money, there are many accounts you can get that will accomplish this, from a money market account to a regular stock account. BUT, you are best doing it through a brokerage firm and not a bank as they can provide you with more options. |
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