way to invest it. I want maximum return with flexible liquidity.
2006-12-21 12:01:35 · 10 answers · asked by HIPPOPOTAMUS 1 in Business & Finance ➔ Investing
You need to contact a good CPA and tax attorney first off. They will refer you to a good financial adviser. You only want to deal with a top notch financial adviser that handles people with accounts over $1mil. Then you will get good service and the above-mentioned people will help you diversify, paln for retirement and anticipate any tax issues.
But you need to do this ASAP before you do anything with the money. Good luck.
2006-12-21 12:16:39 · answer #1 · answered by Chrisusc 2 · 1⤊ 0⤋
Well, the first thing to remember that that is a lot of money, but not an enormous sum. You will want to put some of it in a safe place like a savings account, some of it in long term retirement plan, and keep a portion in well performing mutal funds. You will first need to pay off all of your debts and taxes on that income. Then park it until you know what you are going to do with the rest. Never, ever invest in anything you don't understand.
2006-12-21 20:11:02 · answer #2 · answered by Patrick C 3 · 0⤊ 0⤋
Get in touch with Vanguard Mutual Funds and sock the whole thing into their Prime Money Market Fund until you go to school and learn enough to invest it pretty much by yourself. Never go to a broker, advisor, accountant, etc. and invest in vehicles that they have a vested interest in or make money from your transaction. YOU NEED TO GET SMART QUICK ABOUT INVESTING. Go to the accountant about taxes if they are in play. Once you figure out how much you really get to keep then ask the folks at Vanguard how to diversify and make sure that you understand what they are saying and that it is appropriate for you. You will have many friends if they find out what you inherited.
Go to the library and check out some books on investing. Go to school at a college and take a class or two. Remember a fool and his money are soon parted. It took me about 25 years to realize that there is only one person who really had my true interest in mind, ME. And about the same time to realize that as smart as I thought I was, you can not beat the folks on wall st. Go with the flow, do not be greedy, and be generous with your blessings.
2006-12-21 22:27:22 · answer #3 · answered by RobertB 5 · 1⤊ 0⤋
You have to invest half in the stock market, and half in land and commercial real estate. For your investment ideas, you have to see what the best investors are buying and selling. Go to http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas. There is also a charting feature , so you can see how your portfolio performs compared to the S&P 500.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck.
2006-12-21 20:18:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋
1 million to normal people seems alot but to Warren Buffet or Bill Gates its, "small the pieces"! Only with financial knowledge will you be able to sustain that million dollar. A person who have not hold that kind of money before, especially gambler winning at casino or lottery will eventually lose all their money. I suggest you go and equip yourself with financial knowledge first before proceeding with any investment. Find a good mentor. HOT INVESTMENT TIPS will not do you any good but in fact more harm. Read more books! Foundation ones(good ones) probably Rich Dad Poor Dad Series by Robert Kiyosaki.
2006-12-21 22:05:39 · answer #5 · answered by dingarmando 1 · 1⤊ 0⤋
Definitely talk to a qualified financial advisor, don't search for answers on your own on the Internet. An advisor will put everything into perspective based on your own unique financial needs and help you make good investment decisions.
2006-12-21 20:13:51 · answer #6 · answered by KatGuy 7 · 0⤊ 0⤋
Toyota Motors.
2006-12-22 00:30:54 · answer #7 · answered by Phillip 3 · 0⤊ 0⤋
Do what Chrisusc said - today! Also, do not tell anybody else about your good fortune, including anyone on Yahoo! Answers.
2006-12-21 20:28:07 · answer #8 · answered by db79300 4 · 0⤊ 0⤋
As much money as that is, if you are very young and don't have experience handling money you had better get some help or you can lose it very easily..."A fool and his money are soon parted"..
2006-12-21 23:26:06 · answer #9 · answered by days_o_work 4 · 1⤊ 0⤋
Diversifiy, do not put all of your eggs in one basket.
2006-12-21 20:09:01 · answer #10 · answered by Anonymous · 0⤊ 0⤋