2006-06-07 04:27:43 · 26 answers · asked by Sexy Susie 1 in Business & Finance ➔ Investing
Do not spend one red cent of it.
You did not mention your circumstances so giving advice will be too hit and miss.
Have you completed your education? If not you may wish to invest in that.
Do you own a house or are you renting? You may wish to invest in a down payment on a house, but do not invest in a house larger than what you need. A lot of people think they have to have a 3000 sq ft home. Then they complain about the taxes, utilities, and upkeep.
If you are set in both of those departments but do not have any investment experience, you do not want to go blindly into investing just yet. Put it into a 12 mo CD for the time being and begin learning about mutual funds. They are your safest bet for the intermediate term. Do not put all of your funds into any one investment. The key to minimize the risk of investment is diversity. Maybe $10000 in a fund investing in Chinese companies, maybe $10000 in a fund investing in European companies, maybe $10000 in a fund investing in small U S companies, maybe $10000 in a fund investing in large cap companies.
Get the picture? Always have a cash reserve for emergencies.
2006-06-07 15:41:37 · answer #1 · answered by Anonymous · 8⤊ 2⤋
Stick it in a high interest savings account...... maybe invest $1,000 each in Anheuser-Busch (BUD) & Walmart (WMT) shares over the long term (20-30yrs) through Sharebuilder.com + re-investing the dividend payments to increase your holding in the stocks.
Perhaps buy a few British Gold Sovereign & South African Gold Krugerand gold bullion coins as a sort of "insurance policy".
If you ain't got good medical cover, I'd suggest getting some A.S.A.P with the money..... otherwise without it you could suddenly find yourself waking up one day with an illness that wipes out the entire $75,000 paying the resultant hospital bills... and perhaps invest in a pension as well while you're at it (the sooner you start, the more you'll have to keep you going once you turn too old & wrinkly)
After a few years of earning interest in the savings account, perhaps look into buying something like some land with development potential, or maybe a Holiday home you can rent out during the tourist season.
whatever you decide to do..... don't blow it all at once, as once it's gone it's gone.... and you'll find it virtually impossible to get that comfortably well off again.
2006-06-07 15:13:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋
First think about what your grams would have wanted you to do. Would she want you to have a little fun with part of it? Would she want you to be able to go to college (i don't know how old you are)? Or maybe she just didn't want you to worry about Money. If it were my grams She'd want a bit of all of the above. So I would take a small portion 1000 at the most and have some fun... maybe take a little more and go on a trip or something... I would pay off some of my big bills so that my credit would be better. And then I would take a Big sum and save it. Then I would talk to family and friends to find an investment firm that I could trust and stick that sucker in some stable market options... Low risk high gain... with that kind of Money you can wait on it for a good long time to mature. If you play your cards right ... that may be enough to buy a great house one day.
It may be really tempting to let this money burn a hole in your pocket. BUT DON"T DO IT. Gramma's are very careful with their money. If you are smart and find some smart people to help ya out... and your patient that money can help you for along time. You may be thinkin about fast cars and fancy cloths... but most grams would want their grand kids to think about securtiy... about schooling and having a house or maybe the fancy wedding or something.... something long lasting and something most have to work there whole lives to get...
You also may want to consider taking a bit of that and donating it in your and your grams' name to a charity that would have meant alot to her... For example... my grandfather died of ALS so i would have given some to the Lou Gehrig's association... or maybe to a veterians association ... or maybe to your grammas favorite public garden. Something so that the community will know she appriciated them...
Well I hope I've helped you some what... I tend to ramble a bit heehee... May God bless you and give you wisdom in this and in all things. OH before I forget... make sure you talk to someone about the tax laws on inheritance... cuz well they are complicated.
Have a good one :D
2006-06-07 11:48:23 · answer #3 · answered by Jembee1720 4 · 0⤊ 0⤋
Look, before you do anything foolish with the money, get yourself an education in investing. You're going to have no idea if the advice people give you is any good unless you understand how money works. Personally, I recommend "The Only Investment Guide You'll Ever Need" by Andrew Tobias. It's an easy read and it will give you a firm foundation so that whenever you're presented with a financial choice or recommendation, you'll make an informed decision. No one's ever going to care as much about your money as you are, so you'd better learn how to handle it and make it grow. Good luck.
2006-06-07 20:20:59 · answer #4 · answered by VinTek 7 · 0⤊ 0⤋
well after you pay the taxes...:( you might want to save some in the bank... buy something nice for yourself... what i would recommend though is to invest it, or maybe give that amount as a downpayment for a home. (hey, its an investment). and in the future your home can be worth more and u get even more money, BY the way.. with a downpayment at this amount your payments would be low (depends how much the homes are in your area)
2006-06-07 13:35:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Well, you could put it in a savings account for college or to buy a house or a car. You could also buy some new clothes with it, or donate some to charity of your choice. You can pay off any bad credit that you have as well. Hope this gives you some good ideas.
2006-06-07 11:31:54 · answer #6 · answered by MaryAnn 4 · 0⤊ 0⤋
Put $65,000 in a money market fund or CD. Donate $500 to charity. Do something for yourself with the rest.
2006-06-07 11:34:02 · answer #7 · answered by Sully 7 · 0⤊ 0⤋
first of all, sorry to hear about your grandma, you should Save some of it for a rainy day, spend it wisely though do things you really want to do, go places, skydive bunjee jump etc, or you could donate some of it to a charity? Buy a nice house with a swimming pool! whatever you do with it have fun!!!!
2006-06-07 11:33:40 · answer #8 · answered by Jerry 2 · 0⤊ 0⤋
Don't tell anyone!- I would get something little that your grandma would like you to have and save the rest for college wedding /kids etc. Instead of giving me 10points for the best answer if you have any left you could give it to me!!!!!1
2006-06-07 11:32:27 · answer #9 · answered by bigbrother 2 · 0⤊ 0⤋
Take it from me buying property with the option of sub letting while not required by you is the best option.Get lots of estate agent advice in your area.You can expect 20% growth with no risk.
Keep well clear of any share investments.
Grandma will be pleased!!!
2006-06-07 11:41:53 · answer #10 · answered by java 4 · 0⤊ 0⤋