I won $700,000 and would like to make it grow, any good (safe) ideas?

I have met with financial advisers, but really am nervous.

The important thing is to make a solid decision and stick with it. Don't try to trade a lot in the stock market or move your money around based on your nerves/fears and things you might hear about the market. Markets for anything go down and up, and the worst thing to do when it's down is to sell out of fear (this applies for stocks, real estate, anything). Plus, you'd get eaten up by fees/taxes from it. If you get something like a mutual fund where someone else manages it for you or CD/bond/indexed fund/etc. where it just grows and you don't have to worry about it so much, then you can let it grow and not be tempted to sell when things look rough the way you might if you just bought individual stocks or ETF (exchange traded funds - sort of a combination of mutual funds and stocks). You can check www.morningstar.com for ratings of mutual funds. Indexed funds are safest 90% of the time, but 10% or so of actively managed funds beat the market - check the American Funds ones for those (the more bonds they have in their portfolio, the safer it is, while the more stocks they have, the riskier but more growth potential). Congrats and good luck!

I would interview a number of financial advisers, maybe ask people you know if they use any. I have one, he's independent so he can sell me different products from different companies. He can Tailor my portfolio towards what I want.

Take your time, do your own research.

Go to Motley Fool (online) and start reading. You'll find lots of articles and interactive tools to help you figure out what to do with X amount of money when you are Y years old and have Z dollars in assets already.

www.motleyfool.com

With a windfall a lot depends on your age and how long till you have to retirement. Usually a good safe mix of stock and bonds. If you are conservative your age in bonds . Average your age -10 in bonds. If aggressive with time till you retire your age - 20++ in bonds.

You have to pay attention to Taxes in how you place your asset allocation.

One thing you probably do is see a financial planner. One who charges you by the hour and doesn't sell any products for you to bye. Vanguard is my personal favorite.

If you go to Diehards.org they have a sticky that gives you the list of tax favorable and unfavorable asset allocations .

It is interesting that Bonds are on both ends If your bonds are be taxable use EE-Bonds, I-Bonds or Tax Exempt-Bonds.

If you can put the bond allocation in a IRA then Hi Yield, Taxable or TIPS would be your choice.

I would put the stock allocation into Vanguards Total Stock Market Fund and the Foreign allocation into the individual foreign funds like Asia and Europe to take advantage of the favorable tax treatment.

Dont forget to give a little to your favorite charity.

Good luck! Gerry

You didnt mention your age which is a very important factor. What is your goal with this money? When will you need to use it? What is your tax situation? Tax bracket? Do you have other invested assets? Do you have debt? Without knowing those things nobody can really provide sound advice.

IF it were me, here is how I would use it:

I am 30 years old. I would still work. I would invest 500K into tax managed mutual funds that fit my tolerance for risk/reward. I would invest 50K into a high % money market, and 150K into a bonus index annuity that gives pure liquidity after the surrender period.

That provides me with an aggresive pot (mutual funds), a cant lose pot tied to the market performance (Index annuity), and a pot of FDIC insured money (Money Market).

Also, dont forget that you will have to pay taxaroo on that money that you WON.

This overall portfolio would provide tax efficency

First you need to max out this years and next years IRA, after Jan. 1, for you and your spouse, if married. Make sure you are all covered with health insurance. See to it your kids have what they need, but not too much now. Diversify your sum immediately, don't put all eggs in 1 basket. Watch out for all the "long lost " cousins that suddenly creep into your life. Then see a financial consultant, but not just the first one that comes along, for advice. Never give this person access to everything.

Where did you win, 700,000$
I don't beleive it.

If you did, why would you listen to us, and not the financial advisor.

buy philip morris stock

First of all--- Congratulations!!

Your best investment is definitely to create multiple streams of income. Think of it as having money mountains from which streams of income flow, creating a nice big lake at the bottom of the mountain. You'll want to invest in each stream so that you have a backup if any of the lakes were to dry up unexpectedly. You'll want to have an Investment Mountain, a Real Estate Mountain, a Marketing Mountain, and the Internet Mountain. You want to have streams of income coming from each of the mountains in order to have a well-balanced financial picture.

For the investment mountain, contact a financial advisor. You would also benefit from having Richard Paul Evans and Robert Allen, top financial coaches, as your personal wealth coaches, which you can do through Bookwise for $35/month.

For the Real Estate mountain I recommend Robert Allen's book Nothing Down (http://www.amazon.com/gp/search?index=blended&keywords=Nothing%20Down&_encoding=UTF8 ). Now is a good time to invest in real estate since the prices are low. Of course-- research the area and the expected growth and trends to make sure you invest in an area that will be rebounding.

For the marketing mountain I highly recommend Bookwise. It has been the best investment I have made this year, with a return in excess of 500%. You can check out the urls in my signature file or email me for more information. Network marketing is actually one of the wisest investments you will ever make as it will continue to grow exponentially and, if you pick the right company, will pay you for the rest of your life. A couple of good books to help you choose the right company and then 'Build It Big' are Build It Big and More Build It Big (http://www.amazon.com/gp/search?index=blended&keywords=Build%20It%20Big&_encoding=UTF8 ).

For the internet mountain I recommend affiliate programs. Beginning December 1, Bookwise will also have the most lucrative affiliate program, so it could basically count as both. However, there are also many other ways to invest and get great returns on the internet. Here is another book I recommend: Multiple Streams of Internet Income (http://www.amazon.com/gp/search?index=blended&keywords=Multiple%20Streams%20of%20Internet%20Income&_encoding=UTF8 )

One more thing to keep in mind as you look to investing and building your nest egg is to 'Win in The Margins' as Richard Paul Evans teaches in his book Five Lessons A Millionaire Taught Me About Life and Wealth (http://www.amazon.com/gp/search?index=blended&keywords=Five%20Lessons%20A%20Millionaire&_encoding=UTF8 ). This book is worth it's weight in gold.

Again-- If you want to have some of the world's best financial coaches and your personal wealth mentors, again I highly recommend Bookwise. There is overwhelming value in the benefits it offers.

Good luck with all your future endeavors.

Sharilee Guest
Founder, AmericaTakingAction.com
MyBookwise.com/nonprofits
Hookedonabook.wordpress.com
Hookedonabook.com

Put $650,000 in CD's Take $25,000 and invest it in stock mutual funds. Take the other $25,000 and buy an individual Tax Free Municipal Bond. Live your life, be happy and when you are more comfortable with what you did (which will be in 3-5 years from now) invest a little more in stock mutual funds and individual Tax Free Municipal Bonds. Please read my profile and send me an email

buy a house, do it up, sell it and get a profit, then do it again and again.. i done it, worked out quite well, only flaw would be you need time to actually do it..
and congrads

obvoiuslly sit on some or put it in a cd. Try buying some u.s. equities sparingly in a few weeks, their will be some great buying oppurtunities in financials , like C, JPM, CFC

Open a brokerage account at Fidelity and I will help you. (I am a Portfolio Manager with over a decade of experience in the Stock Markets in the United States of America and other developed countries)

Enter Your Message or Comment

User Name:
User Email:
Post a comment:

Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.074
Copyright (c) 2011 Financial Crisis Monday, May 28, 2012 - Terms of use - Privacy Policy