Investing Trust money?

Question

My friend just gained control of $215,000.00 trust money. He's put 100,000.00 ina c.d. that will make him 6,000 in 6 mo. The rest is in a high yeild checking acct. He wants find the best way to use that money to make more money;investments,forclosed homes/fix re-sell,whatever. He wants fairly quick returns. He didn't finish school,got his g.e.d. though. Hasn't had to work much at all, and has no trade or skill. I say education is a good investment,but I don't think that will fly. So we're trying to make the best educated decision that we can, along with checking in w/a local financial advisor.

Answer 1

He could keep the money safe and still collect $10-15K per year. That is not enough to live off for most people, but it should make his life a little easier.
He could also be realistic about his old age. Nobody is very happy trying to live off Social Security. He could put all the money in a Roth IRA and have a nice nest egg when he gets old.
After he decides what he wants to do with his life, he might consider the possibility of self-employment rather than working for someone else. It is another way of investing in yourself, although education usually pays the best dividends in life.

Answer 2

That of course is not enough to live on. The formula is to get a home that you are comfy in paid for and have at least 1.5 million invested say with Edward Jones for example. More than likely this money will be wittled away unless someone steps in to do some convincing. If it were me I would take the lot of the money and pay cash for a home that I could afford to pay tax and insurance on preferably in an area that will go up in value over the next 10 years.