What do I do with only a million dollars I will be inheriting soon, it doesnt go along way anymore you know?

Answer 1

Go on a web site like Fidelity.com and look at some of their on line programs. They even make suggestions of funds to buy.

Answer 2

You have the first point right. I recall a study about lottery winners who won the smaller pots, 1-5 million. A very high percentage of them had lost all the money after 10 years.
1. YOU are not a bank. I am a banker and everyone thinks it is easy. Do not lend anyone money or go into any business.
2. Make a real decision that you will put the money away for 1 year to make sure you get acclimated to the concept. This is why the rich stay rich.
3. Spread the money out among a few simple low risk investments.
4. Interview a few attorneys and accountants. You don't have to waste money, but you have to have professional legal and tax help.
Congrats and good luck

Answer 3

A millionaire friend of mine said, "Two million is really the new million."

Decide what amount you could really live on. If you can live on $40,000 a year, then you can invest $1 million, pull out 4% a year forever and live on that. If you need more, then invest the money until you get that amount. You want to have about 25 times more than you need in a year, invested. You can double your money and wait a few years. So, let's say you invest at 10% interest. According to the Rule of 72 (look it up), in 7.2 years you'll have double the money. That would mean $80,000 a year to live on. Everyone should be so lucky.

Answer 4

Dont waste its. Dont go shopping. Dont spend to your girl. Investment! Its sound great to me. or you also can start doing ur own business. be ur own boss.

Answer 5

Hire a Swiss Private Banker.

He will take care of you until you die.

Answer 6

please dont complain im pretty sure there is alot of people hoping to inherit only 10,000. just spend it wisely