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Steven M | I recently inherited $250,000. What is the best way to invest it?? |
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Joe
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First, I would pay off all high interest debt. Pay off everything you can except the house mortgage and student loans. Paying off debt is one of the best investments you can make. You will have more money in the future because you won't have credit card bills to pay. (Depending on the rates, you may want to pay off the mortgage and student loans as well.)
Second, start investing in stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks, as individual stocks are too risky. For most folks this means buying mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money conservatively, in money market funds and bond funds, and part aggressively in stock funds. Vanguard.com has an on-line questionnaire which will give you an idea how aggressive you want to be.
I like index funds. Because of their broad diversification, you are less likely to have a dramatic drop in value. They also have the lowest expenses. For stock funds, I would suggest putting ~70-80% of your money in the Vanguard Total Stock Market Index Fund. and ~20-30% in a foreign stock index fund. However, there are many different opinions out there on what the best mutual funds are.
Investing in a mutual fund IRA for retirement may give you an income tax break. Talk to your tax adviser. You may also be able to invest in a mutual fund via a 401K plan at work. Many companies will match your 401K contribution. If so, this is probably your best investment. Buying a house instead of renting will make you a lot of money in the long run.
Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
Sources:
http://www.vanguard.com/VGApp/hnw/planningeducation
http://finance.yahoo.com/funds
http://www.dallasnews.com/sharedcontent/dws/bus/scottburns/columns/2007/vitindex.html
http://www.fool.com/school.htm
http://sec.gov/investor/pubs/assetallocation.htm
https://flagship.vanguard.com/VGApp/hnw/FundsInvQuestionnaire?cbdInitTransUrl=https%3A//flagship.vanguard.com/VGApp/hnw/planningeducation/education |
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The Parthian
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40% in stocks; 40% in staggered maturity date CD's; and 20% in short term, passbook type accounts to keep it liquid.
then, keep you eyes open for an opportunity to buy a piece of real estate in a good neighborhood. then, buy it, by putting 20% down on the purchase price, and use it for interest and tax deductions on your tax return.
If you already own a house, think in terms of a vacation home or a rental property. |
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Andrew J
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Vanguard mutual funds. |
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planningresult
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Steven,
Much of the advice you have received here is simply wrong. For example, It is unlikely that you owe cap gains tax on inheritance since there is a step up in tax basis for assets transferred at death. Before giving advice there is a lot more that needs to be known about the situation.
Like, what are you trying to accomplish with the money? When do you need it? What are your current finances? What is your investment experience? What country/state do you live in? What are your current taxes wihtout the inheritance?
Only after these have been discussed can wise counsel be given.
Dana B
CFPr Certified Financial Planner, ChFC Chartered Financial Consultant, MSFS Master of Science in Financial Services. |
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lizzgeorge
 |
1. Pay off all debt (besides a mortgage, if you have one).
2. Set aside 3 months worth of expenses in a money market fund (get at least 4-5% interest).
3. Buy a house or condo. Put 20% down, but make sure you can afford the payments without dipping into this money. In other words, only buy what you could have afforded before the inheritance; just use this money for the downpayment. (If you have no job/income yet, wait on this step until you do.)
4. Max out your Roth IRA for 2006 and 2007, if you had earned income those years (you can do this for 2006 until April 17). In the future, transfer the max from your inheritance into a Roth IRA every year that you are eligible.
5. Let the rest of the money sit in low cost broadly diversified index funds. This money can be used to start a business one day, buy rental property, pay for your future children's education, etc. (Depending on your age, I'd say go 30% international index, 30% US stock index, 10% REIT index, 10% Energy index, 15% bond index, 5% cash).
6. Continue to live as though this money isn't there--just think of it as a giant safety net. Contribute to your 401k, save for vacations and cars out of your paycheck, educate yourself, and let this money grow in the meantime. |
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im_the_one_dear_fella
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marry me! jk. only if u want to.. .ehhe u coudl buy a house i personaly thing its the best thing u can do |
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gvh
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Try this answer..go to The Mutual Fund Store website. MFS invests your money in mutual funds via Schwab..they charge a fee but they move the money at no cost to you. Mutual funds vary in their returns year to year so they need to be watched almost like individual stocks. Even the biggest strongest companies can be sued for millions or injunctions by the govt , no one company is exempt. MFS knows what they are doing and they are very legit. Beware of people who advise and are paid on commisssion. |
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Cathy
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I suggest you invest in real estate. To achieve excellent returns on your investments it is important to adopt the right investing strategies. To Learn more about investing in real estate check the website link below.
http://www.smart-investments.org |
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Spring
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If you are not a home owner yet, you might want to consider to get a roof over your head with the money.
If you already have a fully pay home (no mortage left), you might want to think about split up the money into different investments, long term, short term, CD, stocks or mutural funds etc. Find a reputable finance advisor to help you.
Spoil yourself a little portion (saying 10% of it) for some immediate pleasure - such as buying a new car, going for a trip, get a new computer etc.
But be wise with the money! |
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SuzeY
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Wow, that's a nice amount! Much of your decision depends on your age, your current debt and your risk tolerance. First, pay off any high interest debt that you have. There's no financial benefit to owing a credit card company money. After that, you should probably start reading up on the type of investment vehicles that are available to you. If you don't have some idea what a financial planner is talking about, it's kind of hard to know if the plan is a good one for you.
That said, I would definitely consult with a few certified financial planners (CFP). The investment consultants with those three letters after their names have passed a national certification exam that gives them more knowledge than just a stockbroker at a big brokerage house. By all means, consult more than one. This is a person who you have to be able to feel comfortable with, much like choosing a doctor. Also, check the certified financial planners website at www.cfp-board.org. That should give you some ideas as to what you should be looking for in a financial planner. |
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scubastieb@yahoo.com
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Invest it into hard money... u will receive between 10-14% on ur money due in 1-5 yrs... depending on how long u wnat it out there. 250k times % divided by 12 (months) that is your payment per month. Now tell me which stocks, bonds, tresure notes or anythign is that perfect... Do not use it to invest in real estate becasue you can leverge ur self to do that at 100% -90% with little down.. and that way u have money coming in from your hard money note.... if you put the 250k all into real esate u have not payments or little paymetns but u also do not have cash coming in to give u extra spending $$$.. and with a 100%-90% loan it is a tax write off. contact me and i can give much more details about the system. |
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Paul U
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The best way is to diversify between real estate, equities and I would even look at the foreign currency exchange market (Forex). With $2 trillion dollars a day being traded in the market it is the most liquid and the most active market on earth.
That was the good part...the bad part is that because there is the potential to make very attractive profits there is also an imbedded element of risk. Those that look at Forex as "the next step after online poker" are doomed. Most traders that enter the Forex arena lose because they have not taken the time to learn how to properly enter and exit the market so as to minimize risk and maximize profits.
I would suggest you at least look into it as a part of your overall investment strategy. The returns can be quite attractive (10%+ per month) and there are conservative strategies that reduce your risk of losses.
I would be happy to send you a report that a good friend of mine wrote that does a good job explaining the Forex market and some interesting ways to participate.
pupp52@yahoo.com |
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zman492
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I would answer the question differently for different people. For example, the best choices for a 20-year old making minimum wage should be different fron the best choices for a 60-year old making a six-figure salary.
Paying off any high-interest debt you have first is a good choice, regardless of who you are.
Getting some advice about handling taxes is also a good choice. I don't believe you need to pay capital gains taxes on the inheritence, but I am not a tax expert.
I also agree that you want to spend some enjoying yourself, such as buying a new car or taking a vacation.
Another priority I would suggest is making sure that you have about three-months salary worth of it in something that you can get to quickly without a significant penalty. Treat this as an "emergency fund" in case you are laid off, your car is stolen, etc.
Don't be in a rush to invest it all until you understand the implications of different investment types. If you have little of no experience investing, it is probably worth the time and money to spend a few hours with a certified financial planner. In general, the younger you are the higher percentage that should be put in the stock market, either directly or through mutual/index funds. The older you are, the more should be put into less volatile investments, such as bonds and certificates of deposit. |
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Frank Castle
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Open a brokerage account at TradeKing and drop me a line.
I can help you.
Top 4 Answerer. |
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lowhardbody
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Give it to me |
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aarena19
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Duh silly invest it all on me. |
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James
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Well, 1st you will have to pay Capitol Gain taxes on it which is approx. 30%.....
I would buy a Condo or small house which is your best long term investment, and the safest...
You could buy stocks or bonds...
Have you ever thought of buying a race horse?
Go to scholl and invest it in your self? Buy a valuable painting or collectables...
good luck |
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