if you had a large amount of money given to you (six figures)?
2006-12-28 14:20:31 · 7 answers · asked by ><>JHF<>< 6 in Business & Finance ➔ Personal Finance
put in the BANK............take a long slow time to find a good way to invest
2006-12-28 14:23:33 · answer #1 · answered by ? 6 · 2⤊ 0⤋
Put the money in an interest bearing account in a Credit Union. This way it's insured from loss and you'll earn interest and grow your money.
You could even "tier" the money in a series of Certificates of Deposit or Money Market accounts so that you can have some invested so you'll have immediate access (money market account), some for a short term (3-6 month Certificates of Deposit) and some for a longer term (Certificate of Deposit for more than 6 months).
Check the interest rates at your local Credit Union (they pay higher rates and give better service than a bank!) and talk to the member service representative assisting you.
You can find a Credit Union near you at www.ncua.gov in the Resources for Consumers section.
Good Luck!
2006-12-29 01:53:24 · answer #2 · answered by Inquisitive125 3 · 0⤊ 0⤋
don't tell anybody for one. I don't have any money like that but had one of those realistic dreams that I won alot of money. It was sad to see how differently (fake) people treat you just because you have money (false friendships). if you can keep it to yourself so people treat you for you and for not what you have. Investing wise put it into a bank account for the first two months and read, read, read, ask questions like you are now. Don't ask family or friends, ask bankers this same question you asked here. New vehicles are the biggest waste of money, real estate over time is always safe. Right now its a foreclosure market, you could pick up rentals cheap. Congratulations on your fortune, hopefully it won't be a curse.
patrick
2006-12-28 14:33:37 · answer #3 · answered by Patrick 3 · 0⤊ 0⤋
Find a legit homeless person get back on their feet. Find a teen in need of funding for college, and fund it. Pay off your debts,then invest it wisely. Make lots of memories with your family. Ask them where they want to go on vacation. Every year give some, invest some and spend some.
2006-12-28 14:41:30 · answer #4 · answered by drgnotary 3 · 0⤊ 0⤋
Send the person a thank you note. Invest some, enjoy some, and save some.
2006-12-28 14:24:19 · answer #5 · answered by D S 4 · 0⤊ 0⤋
Go to Daveramsey.com and follow his baby steps. I'd also take part for a nice vaction or big toy.
2006-12-28 14:31:08 · answer #6 · answered by Sun and Sand 3 · 0⤊ 1⤋
I would pay off my debt, give some away, enjoy some, save some.
2006-12-28 14:28:52 · answer #7 · answered by CapeCodGram 3 · 0⤊ 1⤋