Doing the Right Thing
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I would invest it into mutual funds. I don't know your age, but the younger you are, the more aggressive investor you should be, meaning you invest only in equity mutual funds. The older you are, the more conservative you should be, meaning you invest in a mixture of mutual funds and bonds.
Lets say you are young in your 20-30s and you invest in a large growth fund or an aggressive growth fund. Let's say this fund had an average rate of return of 14% in the past 25 years. I don't know how it will do in the next 25 years, but lets say it does 12%. If you invest 2.7 million into this mutual fund, in 25 years you will have $450.719 million!
Or you invest 1.7 million and put the rest into a high-yield savings account or a money market account. If you invest $1.7 million at a 12% rate of return, in 25 years you will have $283.786 million! That's a pretty good lump sum for retirement.
If you put a million into one of the online savings banks such as HSBC or EmigrantDirect, they get about 5.05% interest on it. Though you need a checking account at your local bank to link up to your online savings. You can spend $4200 every month without affecting the million dollar balance!
That's what I would do anyway. You can adjust the amount of how much you want to save for retirement and how much you want to put into a savings account.
If you want to take on a bold adventure of starting your own business like owning your own restaurant, I would start something small and see how it goes. Though, you might want to read some books that talks about success and having focus on your goals and setting your priorities. |
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nullifidian2224
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Invvestments. |
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Courtney
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I would find a financial advisor. |
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guinnesscrazy
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Yeah, spend it on a financial advisor and let them tell you how to manage it. If you do not manage it, it will be gone much quicker than you expect, and you will be poor again. |
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misfittircom
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I could use some money, if you don't mind. |
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lilpuppy6
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Bradszky,
I seriously doubt that anyone who came into that kind of money would take time out, log onto yahoo answers for advice.
IF it is true u haev this money,(yeah right) then i first recommend you go get phsychitriac counseling, because if you think annoynmous people on yahoo answers could properly advise you on your new found wealth, then you are at the very least delusional.
Good riddance. |
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Give Blood
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Do you need to spend it? |
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akfjlkjfeijofoofososd
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Charity, and ME!!! Haha. If it's true, then you should really save it first and not spend every last penny! |
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Quixotic
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Don't spend it.
I know someone who inherited $2m around the time he was 18. Wasted it all. He's broke and an alcoholic now, and he's not even 35.
Invest it, and live off the earnings. You could easily have a yearly income of $150,000 off of that. For a percent, I'd be happy to help you invest it. ;-) |
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Misti J
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Invest as much of it as you can, if it's true. |
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Mattman
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My grandmother says "if you have a nest full of eggs, every body will try to get into it." |
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mrrosema
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If this is actualy true then you should find a smart person who you trust and ask them to find you a good financial planner. |
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One Wing
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If you liked being poor, just take all the advice you pick up off the net. A good attorney would be my first pitstop, then a Bank and Trust. It's your money, only deal with established officials that you feel a good relationship is in the offing. |
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bobbytanbt
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Hi, I am in need of money. Lend me $120,000 for 6 years and I pay you monthly with interest. I can also be your personal advisor as I am both an Accountant and a free-lance fortune teller. It is my fate that I got into financial problem. Anyway you can ask me for any free advice thru email - bobbytanbt@yahoo.com. |
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Feeling Mutual
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Invest in tax free municipal bonds and live off of 1/2 the gains so it will also grow. |
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Kathryn
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At least your question tells us why you've been poor for years. Anyone whose first thought after inheriting $2.7 million is "what to spend it on" will be poor again in no time. By the way, this is assuming you actually did inherit anything, which I highly doubt. |
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Destiny
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spend some on me, and invest the rest, right now I am in need of some money to finish my schooling, I would be very greatful, i thank you |
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prodigychild_21
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I truly hope when you said "Any ideas on what to spend it on?" that you werent referring to going on a shopping spree. Now adays 2.7 or being a millionaire doesnt mean your life is carefree now, just as easy you got it, you can easily lose it. You need to change your perception and attitude towards money otherwise you will get in trouble. I would look into getting a financial advisior if I was you. |
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Diamond
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You can start by sending some my way! ; )
Having a home of your own (if you don't already) is the best way to start. From there, I'd definitely get some stock in Delta Airlines. Bonds, cds, stock, mutual funds, etc. Then maybe a nice car...nothing too fancy, but something that is good quality and will make you feel special. Charity is a good way to spend your money, also. |
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Frank Castle
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If you spend it then you will be poor again.
I suggest you to hire a Swiss Private Banker. |
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pleadship
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www.vemmabuilder.com/5244741 and get your money vested. |
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luminous
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Houses, cars, travel, jewels, etc. or give it to charity --yeah, right. |
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