observer_2007
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You do the following things in sequence
1. Pay all loans and credit balances
2. Invest half of the remaining balance
3. Depending on the remaining balance do one or all of the following:
a. Start a business if you are planning to quit your job.
b. Take a trip and go to place you always dreamed about.
c. A down payment for a new home
d. Buy a new car |
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thevonbankfamily
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Take it to the bank and put it in a secure, interest-bearing account, and start doing some homework. Invest in a financial guy eventually, but forst really do some homework. Start with investments for dummies, and read some others. Don't get hooked into risky real-estate ventures or companies who want to be the controllers of your money.
And decide right away how much you want to donate to charity. Otherwise you will not remember to do that later.
VB |
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rbfd4life
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if you have any bills or loans to pay off pay them if not put it in the bank and spend it on you and your family but do not waste it. |
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NONAME
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if your under 45 invest it in a long term IRA with atleast a 10 year track record and leave it alone. if you older, look into short term IRA that will mature around the age you want to retire. if your teminally ill, party like crazy on jet skiis. haha |
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Airadine
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If you have any debts, pay those off first, this includes house, car payments and most especially credit cards. This allows you to make the same amount of money you do now and have less bills each month so even without touching the rest of the money you inherited, you are still ahead each month!
From there I would take the money to a company to do "long term investing" for you. They can take your $500,000 an put it to work for you so that you can retire early or even right now if you want. You can ask them to work it out to give you $3,000 a month or something of that nature.
Honestly, unless you are over 60 I would continue working and invest the money in a long term plan that would allow you to retire comfortably. |
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Dazed&Confused
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Buys lots of land. Land is like gold now, since so many houses and subdivisions are going up so fast, land is hard to come by. And when a person is wanting to build a subdivison or house, chances are they'll pay almost anything to get it. Or, you can always just put it in a CD account. |
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Jesse C
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short term go for the c.d's make some quick money so you can spend and have something to show, alot of times especially with that much money financing something will be cheaper than buying anything out right the cash earned will pay the loan out. long term go for maybe a ira but that would be an retirement but what ever you do dont go spending it on cash only purchases |
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thj1313
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Put a majority of it in the bank then spend a bit on necessities. |
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mannliz
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Invest It. |
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Juliaysha247
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Get things you need like if you need a better car or housing and then put it in the bank so it can get some interest on it until you decide what you want to do with it. And don't tell anyone about the money unless you want them to know because they will be asking for a loan. |
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Kevin N
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Depending on your age if you put it in a value/growth fund in ten years you can generate 1.2 to 1.5 million in returns. Your retirement will be set depending on your needs and you could retire early. You did not have the money yesterday so let it work for you for the next ten year’s. |
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Anastasia F
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obviously invest it---if u know anything about stocks buy some since they have high potential return or maybe invest in a business or real estate my houses value doubled in less than 5 yrs....if u want a safer easier way, just put in a account with a high interest rate such as a CD....u can make a lot of money from the interest |
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LL cool Lois
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invest! |
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Brianna M
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Save it to buy a home and a car...or donate it to those in need...not all but some.. |
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That'sINTENSE!
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donate |
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Carmella
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pay off the student loans of a po' black child who is having trouble finding a job...that would be so cool
donation
i smell tax write off |
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theymadeastatueofme
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spend 5 $ on some wire to keep your mouth shut. |
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richard
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donate it to the needy:
my address is 7759 Deleware Ave
Houston, texas, 77093
My wife needs some new from teeth and my daughter needs some toe nail clippers...I just want a beer! |
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