2007-02-02 01:26:09 · 56 answers · asked by Chris M 1 in Business & Finance ➔ Personal Finance
Invest, invest, invest.
2007-02-02 01:29:47 · answer #1 · answered by Mom of Three 6 · 0⤊ 0⤋
First of all..... sorry for your loss.
I am not sure exactly what that is converted into Canadian money, but it sounds like a lot. I am not sure how old you are, but if you do not already own a house, I would think this would be the wisest investment. A house in my opinion and in alot of experts as well is a smart choice for your future. It generally over time increases in value and is a big asset on paper. It will be there when you retire, whether it is still a place to live, cheaply, or to sell and live on the investment it has become. Now, if you've already purchased a house, I would pay it off and/ or get some advice on where to invest it. I might also be tempted to take a small portion of it to go on a vacation or buy that small purchase you've been wanting.
Enjoy!
2007-02-02 01:36:21 · answer #2 · answered by incredimom2 2 · 0⤊ 0⤋
Three options - 1) Spend it away and get the happy kick in the short term. 2) Invest it wisely and see some long term personal benefit - property or some sort of savings. 3) Use some of it to do some real good for someone in real need and have the long lasting satisfaction that you made a real difference in the world to someone less fortunate while you could. The positive feelings and happiness that comes from this is worth more than gold. Be wise.
2007-02-02 01:31:02 · answer #3 · answered by stgoodric 3 · 0⤊ 0⤋
Personally, I'd put it towards a property in an up-and-coming area of Britain likely to see the highest house-price rises, such as the Kent coast.
Then I'd get a buy-to-let mortgage on the rest and rent the property out. On, for example, a 2-bed flat, you could expect a rental income of about £600-800 a month. Then, in a few year's time, you could sell the property and make even more.
2007-02-02 01:40:53 · answer #4 · answered by Keira H 3 · 0⤊ 0⤋
Wow that is amazing . Congratulation on your inheritance . I would suggest the invest you money . You can do a short term or long term investment plan for you future . Bear in mind that even though you are going to invest , you can also spend a small amount to cover or realize the dream that you have placed on hold
2007-02-02 01:35:18 · answer #5 · answered by Torea 2 · 1⤊ 0⤋
Bank it for the time being and patiently look to buy some real estate, a house or a plot of land, that is where the real money is. As I said, don't rush to spend any of it on items that have no return, think real estate and you will not regret it.
2007-02-02 01:32:28 · answer #6 · answered by Anonymous · 0⤊ 0⤋
The money to spend is depending on how old you are now.
15-30 : save it for your education
35-50 : save it for your children's education
>50 : spend it on things that you like or use it on certain ways that you have been always to . Try to enjoy yourself as life is getting shorter by then.....
This shall be my way of utilising it. Hope you agree in certain point.
2007-02-02 01:41:06 · answer #7 · answered by Cindy 2 · 0⤊ 0⤋
I'll be your friend!! lol - Seriously though I agree with put your money into property - it will always go up in value. My in laws invested in peps and all different things and lost a lot of money. They now see that it would have been better put into property. ENJOY - YOU ONLY LIVE ONCE!
2007-02-02 01:30:18 · answer #8 · answered by KANGA 3 · 0⤊ 0⤋
Is there something big that you need? Say, a car? Another idea is you could save it toward an emergency fund, you know, when it rains, it pours, and you never know when you will need a lot of cash quickly.
2007-02-02 01:32:01 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Afaster computer because you obviosly love this site, because you are sitting on this site with 50 Grand in the bank!!!!!!
Get out there and have some fun!
2007-02-02 01:29:41 · answer #10 · answered by Anonymous · 0⤊ 0⤋
congrats
it depends on what kind of circumstance ur in
give me a little more info and then I'll edit this and let u know
i know that these lots are giving u silly answers like spend it on me don't listen to them
2007-02-02 01:30:47 · answer #11 · answered by Anonymous · 0⤊ 0⤋