my grandfather made a check out to me for that amount and put more money into a savings account. what should I buy? I am 25.
2006-07-20 09:56:41 · 29 answers · asked by Chance B 1 in Business & Finance ➔ Investing
And dude I don't want to give it to charity. I am spending this sh i t! My old pops put another mill in my trust along with whats already there which i get when I am 30. I want to buy some cool stuff, whats money if you don't spend the stuff
2006-07-20 10:03:13 · update #1
oh helI yeah! I like the idea of buying women...lmao
2006-07-20 10:04:29 · update #2
Ok, I just bought some stock, not s h i t! keep the ideas rollin, you suggest, I buy. If I don't like it maybe i'll send the crap to you...
2006-07-20 10:09:36 · update #3
You have all that extra cash in your trust? Buy a house, a car and buy a little something for everyone you know including your grandfather. It will feel good!
2006-07-20 10:51:19 · answer #1 · answered by jennanna 4 · 9⤊ 1⤋
You could go out, buy a car, clothes, girls, etc.
Or you could be smart.
First, buy a house if you don't own one. Real estate always increases. Also, if you want, buy an investment property, and be a landlord, or do a combination...just buy the investment property, and live in one of the apartments. If you pay cash, you cannot go wrong.
Secondly, check into investing in the stock market. For that amount of money, you can see an investment advisor, but the stock market always wins in the long run...you do have to be patient.
Or you can be dumb, and just blow it on stupid stuff, cars, big screen tv, vacation. If you play your cards right, you may not have to work the rest of your life, except managing your money!
2006-07-20 17:03:07 · answer #2 · answered by powhound 7 · 0⤊ 0⤋
If you piss it away, you'll regret it BIG TIME, long before you reach Geezerhood. Invest it in high quality common stocks that are rated 4 Stars or better by Standard & Poors and/or B+ or better by Morningstar.Do this gradually over a few years. Sure, if you want to buy a different car, go right ahead, but be smart about it. Get into some good spending and investing habits. It takes discipline. I hope you got what it takes. Good Luck.
2006-07-20 19:08:08 · answer #3 · answered by ? 6 · 0⤊ 0⤋
I think you should save it. I would recomend talking to a financial advisor and seeing where you should invest it. I would not just go and spend it. I know that seems like a fun idea right now but you will be kicking yourself later. I would pay off any debt you may already have from credit cards or school and then hold onto the rest of it for when you will really need it for a house or something.
2006-07-20 17:05:24 · answer #4 · answered by luther01 1 · 0⤊ 0⤋
Invest it! Buy something you have always wanted but don't go over board. $500,000 sounds like a lot, but it can all be gone so quickly. Make the most of the money, hire a professional with an honest background such as Edward Jones Investments and make the money work to your advantage. By thing way, can I meet your grandfather, I have a kid I have to put through college!!!
2006-07-20 17:01:39 · answer #5 · answered by Junior's Gal 3 · 0⤊ 0⤋
You should see an investor like Smith and Barney and invest it. You could possibly live off the intrest or dividends etc. I also would take a small amount and be concervitive and see the world. If you are still at a loss I could help you spend some of it. JK have fun just think of your future. It seems like a lot of money right now but it really isn't. Your sooooo lucky:)
2006-07-20 17:02:15 · answer #6 · answered by Knock Knock 4 · 0⤊ 0⤋
I know this sounds clich'e, but you should definately look to invest that money. Set aside a small portion of that money... maybe $100,000 and pretend you never even got it. Invest this money in CD's, Mutual Funds, or even the stock market if you want. Over time you will start seeing profits that you should contiually re-invest with the rest of your money. If you leave all of this money alone until you retire (i.e. 50 yrs. old) you should have quite the fortune to spend throughout your retirement, and it will be much more than $500,000 I might add.
2006-07-20 17:07:44 · answer #7 · answered by joshman 3 · 0⤊ 0⤋
Well, thats quite a bit of money to have on your hand.. Put some away, Invest, buy yourself a house, Continue school, Charity, Or just save it for a really rainy day.. if ya get my drift.. Do you have kids? Give them what they want and need.. if you have them.. If not then, just do what you normally do and spend it wisely. Just watch out for them gold diggers out there. Once word is out.. there goes your money.. Anyway.. You have a really nice grandfather.. Wish mine were alive to help me out...
2006-07-20 17:04:50 · answer #8 · answered by Bella Trinity 1 · 0⤊ 0⤋
Get a nice house, pay off any debt, and put more into the savings. I would suggest putting some money into CDs and mutual fiunds if you're not gonna spend it anytime soon. Also, look into money market accounts as well.
2006-07-20 17:09:23 · answer #9 · answered by L Jeezy 5 · 0⤊ 0⤋
Well, assuming you don't want to give it to me, give some to another charity that you're passionate about. If you've paid off school, student loans, a car, perhaps put some of it into buying a house. Take a nice vacation to somewhere fun!
2006-07-20 17:01:31 · answer #10 · answered by darthbouncy 4 · 0⤊ 0⤋