Please, I need some advice!?

Question

I inherited some money a while ago and thought about investing them, rather than saving them in the bank. Someone suggested to invest in land and I got in touch with a company throuh the internet about a week ago. Since this is my first investment I am being rather careful, but I had made up my mind to go with this company, but then I started to recieve alot of phone calls from them, asking when they could have the money and these phonecalls came from different people within the company and I'm feeling rather put off by the intesity of their behavior. They even suggested that I could have the investment cheaper if I would put up the money straight away. This has led me to doubt their sincerity, even though some say it is a well establihed firm.
Please I need your opinion on this?

Answer 1

This story is alarming, as is your vulnerability. Please get away from this company and have nothing further to do with them. Please don't accept specific investment suggestions from parties at this website, or from any strangers.

Please do this: Place your funds in the bank in a fairly short-term deposit, perhaps six months to a year. That's how long it will take you to study various investment options in a sensible way. Ask for a meeting with your bank manager to discuss investment possibilities. If he or she immediately proposes specific unit trusts or specific investments, please take notes but don't act for the time being.

In your local library you'll find shelves of books about every investment sector, from stocks and bonds to real estate to antique coins. Could you begin borrowing & studying these books. Read the business section of your local newspaper and visit well-known financial websites. Yahoo Finance has plenty of news stories, feature articles, tutorials, teaching materials for novice investors - enough to keep you busy for months.

Please ignore predatory websites that purport to teach you how to manage your portfolio - usually by buying their software, subscribing to their newsletter. What they're after is your money and there's nothing they can teach you that you cannot find for yourself at this basic stage.

A college or university in your area might offer adult education classes in investing or fund management.

In time, when you have a better sense of which investment sectors interest you, your bank manager can introduce you to other accredited advisors. A trusted family member could also introduce you. A teacher, or a former teacher. Someone you respect.

This is the long way round, but it's worrisome that a young person would risk her inheritance with such an obviously fly-by-night organization. Your inheritance will be safe in the bank for a short while and, with a little work, you'll have enough knowledge to begin to make wise choices.

PS my grandmother came from Nairn, near Inverness.

Answer 2

That definitely sounds wicked sketchy.

My opinion, don't invest the whole lot; put half or maybe three quarters into something like mutual funds or a Roth IRA and just don't touch it for at least 5 years but better 10. Just play with the rest since it wasn't money you were planning having in the first place, was it? Might as well have a good time with some of it.

Patience is always the rule of thumb with investing in anything and if anyone is pushing you to make a move (or not make a move) they usually are doing one or more of three things: 1) trying to make a buck off of you (i.e. commission), 2) don't know what the heck they're talking about, or 3) have been through a bad experience themselves before and have no faith left in any system of investment.

As long as you take your time, weigh your risk, and it all makes sense to you -- go for it.

Sorry if that wasn't specific enough.

Answer 3

It sounds a little odd, like they (the internet company) got you to chew on the bait, and are now trying to reel you in, but you are resisting (and rightly so).
Depending on how much you got and your personal position you would have to be careful.
The bank will give you a max of 5%, you could expect more from a so called low risk ISA investing in UK stocks, such as FidelityMoneybuilder Index . Or you could make a lot more from a hgher risk Indian, Chinese, Vietnamese fund.
Personally if i inherited money, I would first pay off my most expensive debts (eg credit cards), and then consider invesing, wheether it be in the bank, shares, or part paying my mortgage.
Don't rush into anything. Any decent advisor would need to know your circumstances in full, and your aversion to risk. But emember low risk= low growt, high risk can = high growth.
Ballanced risk is usualy better
good luck

Answer 4

Love, it's your money. If you don't feel comfortable giving it to them for whatever reason, then you are under no obligation to them. It's your money! They don't automatically get it regardless of how they treat you! There are many many investment opportunities out there. But if you are new to investments, please put it somewhere safe, in a no-risk, interest-paying bank account while you research your options fully. There's no hurry. Anywhere you choose to invest; with your money, you are doing them a favour, not the other way round, and you call the shots. Take your time, protect your assets and don't be pushed around or made uncomfortable.
Well done for being so cautious, well-thought out and sensible. I hope you do really well. Cheers.

Answer 5

i would suggest u not to go for that. but there r pretty nice ways of money rather than that...
you should consider risk when you invest in something, the best way might be to buy shares on the stock market, there are stock brokers who will do this for you for a commission...however when you invest in your money, do not invest all your money in one company...this is very risky as there is always the chance that a business may fail...so the best way os to dilute this...meaning invest in more than one comapany..the idea is that to keep the eggs in different baskets than just one so that all the eggs do not break incase there is any incident....depending on the amount u r ready to invest, u may even invest in more than 10 companies....to select companies, u may need to c the financial statement of the companies to see their performance...
u can c statements for many companies on www.ftannualreports.com ...u can get them all free to have a look...
...its always good to get advice from financial advisors before u invest...have a go...
good luck with your investment

Answer 6

Land investing risky enough without this kind of "boiler room" pressure. Open a schwab.com acct & pick up SNH (senior Housing properties) & RRE (REIT fund) & some other investments & can recive 6% or so in yield + growth you can see vs this other risk. You are right to not "save" in bank as rates after taxes are less than inflation so those "savings" are actually losing money. Have to beat inflation after taxes. IAU - holds physical gold - another part of a portfolio.

Answer 7

Land can be very high risk.. Even at the best of times. You should talk to a lawyer before you do anything....

It also depends how much you have to invest. If you want to move away from saving accounts. Consider unit trusts...

Answer 8

Be there for her and try and get her to talk to her parents... By her talking to them gives her more options on wether or not she wants to keep it or even adoption she has more options now than she will later. Her parents will find out eventually just make sure it's not to late. And be a good friend and try and help/guide her to make the choices she wants and not what anyone "wants" her to do because she am has to deal with it later on in life no matter what she decides... And like the girl before said her parents will grow to the idea and yes there's a chance they'll loose it but the won't hurt her or the baby. So encourage her to make her decisions that will benefit her in the end.

Answer 9

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Answer 10

Stick with what you know.

Inherited money should be invested in safe,low risk investments(not land!) until such time as someone knowledgable (such as YOU) can make better choices.

You aren't being careful. Stick with a local company and real people that you can talk to in person.