I have just found out I'm going to inherit a good sum of money. What is the best investing options now?

Answer 1

There are a number of variables to consider before anyone can give you a proper answer. For example your age, family size, future major expenses (house, college education etc.) investment objectives (growth, capital preservation, income etc.) and most importantly your level of tolerance to risk.

I found myself in a similar situation where I inherited some money 6 months ago. There is a good chance that I am older than you. My kids are through college and I wanted to invest some of the funds for attractive growth. I am doing quite well with it in the foreign exchange market (Forex). However, I must warn you....most people lose money in Forex unless they utilize specific strategies.

Once you evaluate all of your variables that I mentioned above, if you have an interest in getting some more info just drop me a line at [e-mail].

Best Wishes,

paul

Answer 2

Invest it in a Money Market account at least for now. Shop around on the internet and in your home city for one that pays a reasonable rate of interest. BUT make sure it is with a bank or other financial institution that you can trust. Make sure it is Federally insured. The higher the interest rate, the higher the risk. Make sure you can withdraw the money when you need it.

While your money is parked there, you should learn all you can about the stock market, mutual funds, and the bond market. Invest in high quality stocks, and avoid "penny stocks".

Decide what you want the money to do for you.
Decide how much risk you are willing to take.
If you are young, you should invest some of the money in HIGH QUALITY stocks and No-Load Mutual funds. If they go down, don't worry about it. They'll come back higher than what you paid for them. It takes Patience and discipline.

Whatever you do.....DIVERSIFY!! Put some in high grade bonds, large cap and mid cap stocks. Growth stocks and value stocks. But do it gradually, over a few years, not all at one time.

Finally, learn to say "NO". You'll have salesmen calling you night and day. They're all trying to make the big bucks at your expense.

If you hire a financial planner, hire one that charges a "Fee Only", not someone who sells stocks, bonds, partnerships, etc. and gets a fat commission from you.

I wish you the best.

Answer 3

The only advice I can give you is to find a good financial advisor. The best way to do that is to talk to people you know about who they use. In today's market it takes expertise to invest money wisely and to have the money make money consistently over time. Start with your bank. I work in a bank and we have investors we work with that will work with our clients. Friends may tell you to buy CD's, stocks, bonds, real estate, or whatever, but only a financial advisor is truly on top of the trends and can give the best advice. Don't make any fast decisions.

Answer 4

If you solicit people's opinions on the internet, you're going to get some wild answers (some may be good, some horrific). I recommend that you meet with a trusted financial adviser. They can help you invest your money safely and in a way that will benefit you the most. Choose wisely, however, and keep your money in a safe place until you do!

Answer 5

Generally, property you receive as a gift, bequest, or inheritance is not included in your income. However, if property you receive this way later produces income such as interest, dividends, or rentals, that income is taxable to you.

Answer 6

Cd's at a high interest rate.