what would be the best way to maximize a return so I could live off the interest
2007-01-15 03:25:44 · 7 answers · asked by servant FM 5 in Business & Finance ➔ Personal Finance
Depends on a number of factors, such as how much you received and how much you need to live on. For example, if you got $1,000,000 and you need 3,000 a month to live on, then you need an investment that pays you 3% after taxes. That is certainly achievable.in todays market, and allow the principle to grow to keep up with inflation.
To truly determine the best investment vehicle for you, you need a financial planner. Make sure you choose one that is accredited, and make sure that he/she does not have a vested interest in the decisions he makes (meaning, he will not make money from any transaction you choose).
2007-01-15 03:54:03 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Contact a financial adviser, they can tell you where to invest your money. Depending on your age, if your still young enough to work then continue working and let the money grow in the funds that they were invested in. You can also put some money in CD's, you will have to do some research to see what bank pays the higher interest rate.
2007-01-15 11:31:59 · answer #2 · answered by daisy 3 · 0⤊ 0⤋
invest in dividend paying stocks, especially those that have a long record of raising their dividends. If you invest in bonds (interest) you will know exactly what your return is, but you are less likely to have a growing principal
2007-01-15 12:56:40 · answer #3 · answered by Ovrtaxed 4 · 0⤊ 0⤋
Guaranteed Investment Certificates
or buy a well known stock
2007-01-15 11:39:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋
ingdirect (the orangeball savings) CD
2007-01-15 11:30:43 · answer #5 · answered by monica m 1 · 0⤊ 0⤋
you can always try Tithing;)
2007-01-15 11:32:45 · answer #6 · answered by Anonymous · 0⤊ 0⤋
How much do you have?
2007-01-15 11:32:07 · answer #7 · answered by edoubleyou 4 · 0⤊ 0⤋