2006-10-20 17:54:44 · 16 answers · asked by Anonymous in Business & Finance ➔ Investing
Pay your taxes;
donate to the local Boys & Girls Club;
pay off all of your debts;
pay cash for a house;
and find an honest financial advisor
2006-10-20 17:59:20 · answer #1 · answered by Robyn C 2 · 0⤊ 0⤋
With 8.2 million I'd dump it into a Hedge Fund. Exempt from SEC regulations and allows for options and futures. The Fund Managers performance are the best in the world on High Yield Hedge Funds.
If you where around a millions I'd say Equity Indexed Universal Life. Due to the fact that you can take loans against your money, it doesn't interrupt the compounding of the money and you'll pull out the money tax free. You're money will go up when the market goes up, it will Never Go Down! Phenominal investment. The Tax laws make it blow away any mutual fund all day long!
2006-10-21 01:05:51 · answer #2 · answered by Anonymous · 1⤊ 0⤋
FIrst get a lawyer, get incorporated, will be helpful when tax time rolls around. Find a good financial adviser and if you're not comfortable with their suggestions, seek advice from other CFPs.
2006-10-21 01:09:38 · answer #3 · answered by Kainoa 5 · 1⤊ 0⤋
I have been ill for a long time and selling houses is making it worse. How about you donate to truely needy people like me? If you give directly, instead of to a charity, then all the money goes to helping, not a dime to administration.
2006-10-21 01:04:31 · answer #4 · answered by mrscmmckim 7 · 1⤊ 1⤋
Buy a home in Oregon, its very beautiful here... I have a tool that I could help you look at houses from your home computer!
I do loans here in Oregon and know a great Realtor too!
Let me know!
Good luck!
2006-10-21 09:55:27 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Donate a good chunk of it to various charities.
Save some of it.
And spend the rest on the toys you've always wanted.........expensive car, kick @ss entertainment center, etc.
2006-10-21 01:16:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It depends on your situation, debts goals desires etc. You could put it in a safe interest bearing investment and sit on the beach.
2006-10-21 18:56:25 · answer #7 · answered by Anonymous · 0⤊ 0⤋
share the wealth
start a non profit organization or a charity
make sure your family is provided for and also extended family members, be the one that they come to if they need you, make sure your kids are well provided for in the future
if your parents are still here, make them want for nothing and make sure they have the best care
2006-10-21 01:03:53 · answer #8 · answered by AveGirl 5 · 0⤊ 0⤋
Shut up!!! Nuh-uh!! what you absolutely have to do is build your very own demolition derby track and stock it with a fleet of huge beater cars. Have all your friends come over, get super drunk and tear up the track. YES!!!!!!!!!
2006-10-21 01:07:20 · answer #9 · answered by jon 3 · 1⤊ 0⤋
mmmmmmmmm you could always give to the poor ppl like me single mom who is disabled with 2 kids, would love a dependable vehicle to get my son back and forth for football and baseball. but you also could give money to diabetic research, to help them find a cure for that.
2006-10-21 01:08:14 · answer #10 · answered by mystiquewild78 1 · 0⤊ 0⤋