I don't want stupid answers like give it to me. So here is my situation and I would like answers from people who have been in my position or would have a educated answer. My father died in 2000 and I have a trust woth about 165000 and it is invested and will be for the next 4 years. My question is after i am able to get the money what would be the best way to use it to make more money other then re-invest it. I am open to any and all good answers. I am also getting a college education but dont know in what yet if that help. Thanks for taking the time for reading this and responding!
2006-11-07 06:20:37 · 13 answers · asked by What to do 1 in Business & Finance ➔ Personal Finance
find a trustworthy financial adviser to help you invest it. it should earn an average of at least 10% a year or more.. if you're not earning that much after five years, find a different financial adviser.. it can mean the difference of millions of dollars in the long run..
2006-11-07 06:23:28 · answer #1 · answered by Byakuya 7 · 0⤊ 0⤋
The only way to increase funds you have is by re-investing. If you are looking for get rich schemes, forget it. You'll be taken to the cleaners.
Unless you know what you are doing in real estate or any other business venture, and it looks like you are not, check out Fidelity Investments or similar mutual funds holders.
Whatever you do, you will have to take the time to learn about investing in whatever. The safest with the highest return is mutual funds. Morning Star ratings are a good sign to tell about the fund.
But real investing in anything takes lots of time and effort.
If it's too good to be true, it usually is. Remember only you have your best interest at heart. Your interests are not others first priority, their own interest are no matter what they say.
Start by subscribing to Money magazine and other investment magazines.
2006-11-07 06:28:55 · answer #2 · answered by the shadow knows 3 · 0⤊ 0⤋
Real estate investing is safe. Buy a few rental property single family homes and if you can get foreclosed ones, you'll save even more. Hire a good leasing agent to take care of all the details and sit back and collect your various rents each month. Save enough for taxes and repairs and at the end of about ten years or so, you should have all your money paid back and start earning extra. IN the mean time you can try other things, the sky is the limit. Real estate is a sure bet, though and with that kind of money, I would definitely do it myself.
2006-11-08 16:50:02 · answer #3 · answered by anonymous 2 · 0⤊ 0⤋
You need to see the financial advisor and make some smart moves. if you want to use some of it for school then leave some liquid like in a money market or something like that, all depends on how much you are going to pay for school. just make a smart decision, some of the others answers were strange but i worked in a bank and have seen to many people throw away money that was not invested properly. so be smart, see a REP. A good one, possibly one from a bank.
2006-11-07 06:42:16 · answer #4 · answered by Nattiedred 3 · 0⤊ 0⤋
Other than re-investing in stocks and bonds which is questionable since the ENRON case, you can invest in real estate, or buy some valuable assets for investment purposes. I'd also like to say you can buy yourself a house but I don't know if you already have that. Sorry I don't have much experience in that department. Good luck and happy investing.
2006-11-07 06:25:35 · answer #5 · answered by vanityspice 3 · 0⤊ 0⤋
The problem is right here:
You expect people who don't know you from Jack (your talents, abilities, etc, if any) to advise you on ventures, since you preclude investments a-priori. Quote:
"My question is after i am able to get the money what would be the best way to use it to make more money other then re-invest it."
Please re-examine your approach with great care. The sum in 2006 is not so huge that it couldn't be frittered away.
BE PRUDENT !.
2006-11-07 06:34:57 · answer #6 · answered by Anonymous · 0⤊ 0⤋
INVEST INVEST INVEST
Anybody worth 150K or more is in the top 30 person of richest people in the US...
YAHOO another RICH person among us I LOVE THE US...
Do not use this money for college. You should invest it and use the INTEREST to pay the college bills.... Once you have paid the bills the intrest money will keep on coming...
2006-11-07 06:26:07 · answer #7 · answered by Marshall Lee 4 · 0⤊ 0⤋
If you are in College now good! Take the next four years to decide your career goals, learn as much as you can while in School, then make yourself as stable as you can in your career and the answers will be right in front of you. Don't try to have the answer before you have the options clearly defined for yourself,then follow up with sound advice before making choices.
2006-11-07 06:38:55 · answer #8 · answered by canvasman 2 · 0⤊ 0⤋
Keep it in investments, but do use some of it for your college education.
I agree with the above poster that you should get a good financial advisor. I've been happy with folks from Ameriprise (formerly American Express).
2006-11-07 06:29:14 · answer #9 · answered by Anonymous · 0⤊ 0⤋
you know, i inherited a small amount of money, and i plan on building its value by starting up my own clothing company. i think that if you have the means to do it, do it. and when you die, you dont get to keep the cash, so build it up while you have it, but dont be afraid to use some if it too, whether it be to make it grow even more, or to buy things you really need, like an education.
good luck!
2006-11-07 06:24:28 · answer #10 · answered by Syd 5 · 0⤊ 0⤋