150k im about to inheriage. Im trying to get fix income... can you all give me a range in which to expect. I?

Question

know nothing about having such money. I know i need a regular income. A friend told me i should be able to to get $1000 a month. Who might i go to .... bank, merril lynch,charles schwab ? Its from my mom, she wants me to do good with it. Altleast keep a roof over my head... Pls Help
thank you for your time.

Answer 1

There are many options for you, some with low risk and some are higher.

A savings bond or savings account would yield 5% or less a year. If you invest the full 150K, that would net you $7500 a year, or $625 a month. There would be no risk of losing any money here.

To earn 1000 a month, you'd need to earn 8% interest. For that, you'd have to have a mutual fund or stock in vestments-- there are RISKS associated with that-- stocks can go down and you can lose some money there.

Go to a financial advisor and get some advice. Merril Lynch, Fidelity, etc. Try to get a referral or check out a couple different ones and ask lots of questions.

Answer 2

There are many closed end mutual funds that have an 8%+ yield. Two that come to mind are from Nuveen Investments, JQC and JPG. (Disclosure, I own shares in JQC, Nuveen Preferred and Convertible Income Fund 2). The prices of preferred shares of stock do not go up and down as much as common stock (and mutual funds that invest in them) but they have a much higher yield which is what you seem concerned about. The risk is, if in the future the economy gets much worse, the dividends they give out will go down. (No problem with that in the years I have held JQC). Besides preferred/convertible stock, there are bonds from some good companies that yield 8%+. But don't take my word (or anyones elses on the internet) for it, see a professional advisor). The above is not a recommendation for you. It is just 2 examples of what you may want to ask a fee-only financial advisor, or full service broker like Merril Lynch, Smith Barney, etc. Schwab I believe also gives advice. Ask them about closed end funds and bonds that yield 8%+, or maybe if you are risk adverse and want some type of "guarantee" on not losing you money, maybe an immediate annunity might do for you. Only when someone sits down with you face to face and gets all your information, can a decision be made.

Answer 3

depending on how secure of an investment you need...

A CD would be close to 5%... appx $750 a month. Very secure.

Mutual funds SHOULD average 10%... but you can lose 30% of your investment overnight....

Answer 4

150k buy some vending machines they should be able to help long term.