What do i do with it i mean really, i have everything i want already, im moving with my fiancee to QLD but i dunno what to do with the rest of it, i mean i wont have to work for the rest of my life.
2007-12-22 05:45:34 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Thats easy darling, become my bestfriend and we'll spend a day of shopping. It will be lovely and fun =).... or if you already have a gay bestfriend grab him and take him shopping, pay him back for all the time he's given you by listening to you cry and help you look great. Trust me he'll be your gay boy for life after that =)
2007-12-22 05:56:41 · answer #1 · answered by Amorist 1 · 0⤊ 0⤋
Put it somewhere save like a bank. Don't tell anyone. Wait 6-12 months before deciding long term. If you think about it you may decide there are things you might like or some good you may want to do with the money. People will come begging if they find you have money. Telling them yes will leave you soon penniless, telling them no will leave them thinking you are mean. Not letting them know you have money or how much is the best way. Then if a friend says they need something you can help or not on your own terms.
You may end up with too much money after you have married, raised kids and seen your grandchildren grow. During those years you may have spent money on travel tuition house down payments for the kids and everyone is doing great. Then you can fund a scholarship or finance a shelter for abuse animals or people or do other good things.
2007-12-22 05:51:11 · answer #2 · answered by shipwreck 7 · 1⤊ 0⤋
The best thing to do is put it in a savings account temporarily. That will prevent you from spending it carelessly or making bad investments impulsively. Shop carefully for a financial advisor for a few months. Read up on investment strategies. After you have made some good decisions, remove it from the savings account and use it. I would invest most of it, since you don't need it for day-to-day life. And congratulations!
2007-12-22 05:54:36 · answer #3 · answered by Stimpy 7 · 0⤊ 0⤋
you should invest it definately, not in stocks unless you have every day to look at them and know what you are doing. Depending upon how you do it, you can transfer it tax free. If you have the money, talk to a financial advisor or more to be safe. Some people are grimey salesman looking for commission thats why I say look for 2+ advisors to get their opinion before making a decision. Roth IRA's are a good bet, they let you pay taxes before it grows, and in emergencies, you can take out what you put in w/ no penalty. definately talk to a couple advisors and write everything down!
2007-12-22 05:57:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Dump a small portion(20%ish) into Mutual funds. Put the rest in a CD or something else that you're not likely to touch for awhile, and just let it sit and build interest. Or give me some because I'm poor =p
2007-12-22 05:54:05 · answer #5 · answered by Ryan 4 · 0⤊ 0⤋
I suggest investing the amount that you don't need. Either in a high yield savings account or even CD's if you want. That way you really don't have to watch over it and it'll just continue to grow off interest.
2007-12-22 05:51:20 · answer #6 · answered by Kegger 3 · 0⤊ 0⤋
Talk to an accountant to find out how to invest your money to get the best and safest return and also get the best tax shelters. I would also talk to a lawyer to protect your money in case of divorce in the future (sorry, but it is a possibility).
2007-12-22 05:54:05 · answer #7 · answered by Bears Mom 7 · 0⤊ 0⤋
You'll want to go talk to a finicial planner. Or you could just give it to me that will work too since you have everything you need. =-) No seriously, you'll want to see a professional for advice on this.
2007-12-22 05:58:21 · answer #8 · answered by jt6341 3 · 0⤊ 0⤋
Well, You can put it in the bank and just use it as you wish when you wish. Maybe you could find a charity that you like and donate some of it....
2007-12-22 05:53:57 · answer #9 · answered by Steph 3 · 0⤊ 0⤋
Seriously, go to a certified financial planner or talk to your bank for references - you should not be asking that question here.
2007-12-22 05:52:43 · answer #10 · answered by Piggiepants 7 · 1⤊ 0⤋