Serious Question

[BuffaloBill]

Hi Guys,

Recently a family member of mine has passed away, and as a result, I have inherited a large sum of money.

Anyone have any advice for investing it?

Thanks a lot guys, I appreicate the help.

 

[vinnie]

If you want to spread some in the gambling field bet against the Royals on the road easy money.

 

[hedgehog]

american funds

 

[Mjolnir]

if you dont own your own home outright, that would be the first thing i did. then i would be very, very careful with the rest.

 

[The Boys]

If it's a very large sum then hire a pro.............I guess it depends on the amount??? Under 100 grand maybe seek advice from a bank. if it's a larger amount you'll have tax questions and possibly need a trust..............just to many variables, so ask questions. My advice is don't do it yourself.

 

[DOGS THAT BARK]

A lot would depend on your age and how large a sum.
If large enough sum would go conservative route and and worry more about keeping what you had than trying to make more.
1st thing would pay off all debt--tax free bonds would be good place to store bulk and get good income until opportunity knocks.

With the shit about ready to hit the fan from all that have been duped into home equity loans and getting ready to get hammered on increased interest rates--Cash will be king in next couple of years and should be able to pick up some real bargains in real estate. Patience is a virtue.

The older you are and the greater the sum the less risk exposer the better--IMHO

 

[Agent 0659]

if you dont own your own home outright, that would be the first thing i did. then i would be very, very careful with the rest.

Can you please explain to me what the benefits of this would be? Paying off your house is a terrible move.

 

[AR182]

Can you please explain to me what the benefits of this would be? Paying off your house is a terrible move.

without knowing bill's finances i don't necessarily think it's such a bad idea.

i know i can't wait until my mortgage is paid off.

 

[danmurphy jr]

If you are going to move properties it is best to leverage your $$$.
Meaning use as little Cash as possible. If the property is your main dwelling for a long time, 8-10 years, use cash. $.28-.40 cents on every dollar is tax-deductible. $.72-.60 is not. AR's dreams are those of most every HO

 

[Franky Wright]

Can you please explain to me what the benefits of this would be? Paying off your house is a terrible move.

I guess I thought he meant to own vs. rent, but if not, then your right.

But DTB has the right formula...........

Franky

 

[bear]

When homes are appreciating....all is good being highly leveraged BUT
Depreciating prices + high (and rising) property taxes + upkeep,maintenance costs, + rising interest rates, insurance etc........less income tax advantages
????????? depends on where ?, how much?, your income? etc on the advantages of home ownership over renting a/o carrying a mtg.
Personally, There have been times in the Northeast when it would have ben better to rent and save...We are getting there again..

bear

 

[SixFive]

If you are going to move properties it is best to leverage your $$$.
Meaning use as little Cash as possible. If the property is your main dwelling for a long time, 8-10 years, use cash. $.28-.40 cents on every dollar is tax-deductible. $.72-.60 is not. AR's dreams are those of most every HO

I certainly wouldn't do this. I think DTB has good advice and was going to suggest to the thread starter to get his and selkirk's opinions. Sorry for your loss.

 

[DOGS THAT BARK]

Would agree With Clint on speaking with Kirk on investments--Personally I would turn all my chips over to him and sleep like a baby.

On leveraging--remember- it's a two way street--goes back to age and how much you took in. Why submit to any risk or anxiety if no need. If young and want to venture out--take part of it and do your thing,what ever it might be.
Reminds of the the greek gambler-forgot his name--dubbed the biggest gambler of all time. Almost had Binions entire purse--but wasn't satisfied--and eventially left busted> Personally I would dub him the worlds biggest loser.

 

[beantownjim]

BUFFALO BILL IF I WAS YOU I WOULD DONATE SOME OF THAT LARGE SUM TO CHARITY FOR A WRITE OFF.I KNOW OF A GREAT CHARITY HERE IN BOSTON ITS CALLED THE (HELP BEANTOWNJIM FROM HIS WIFE FUND) YOU SEE BUFFALO BILL BEANTOWNJIM DOESNT HAVE ACCESS TO ANY MONEY HIS LOVELY WIFE CALLS THE SHOTS.SO IF YOU DONATE TO THE HELP BEANTOWNJIM FUND IT WILL MAKE YOU FEEL GOOD AND I CAN GET BACK IN ACTION

 

[BuffaloBill]

Thanks a lot for all of the advice guys, I really appreciate the help.

I think I am going to put most of it into some safe tax free bonds.

When the opportunity arrises to buy a home, I will jump on it.

If anyone has any other suggestions, I would appreciate it as well.

Thanks again to all who have responded.

 

[Mully]

Pay off any and every debt you owe. Then put half of what you have left in some sort of futures fund. With the rest , enjoy life and do what you want. If you can't pay off every debt with the sum you have, quit posting and betting.

GL ...