My last surviving parent just passed away and after going through all the accounts and property, I'll end up with about one million usd in inheritance. I'm only 26 and not familiar with investing or anything financial.
I want to protect the money, but I also want to let it grow to support me through to my retirement. How should I do it?
Go see a financial advisor. Don't go with the first one you meet - interview a few of them.
Money should essentially double every 7 years.
>100k in gold >Buy a 300k house and rent it in order to have a fixed income (depending on where you live) >Leave the remaining 600k in a bank >Gamble 10k on cryptos (?)
Look into good mutual funds or learn how to day trade. Property and a modest house. Set yourself up to never have to actually work again unless you want to. Ignore crypto fags if you don't want to blow your brains out when it keeps crashing. Occasionally this shitty board has stock trading generals give those a look. Investopedia is a good resource to red pill yourself.
oh it's ur last surviving parent :thinking: sorry to hear about that
well this is the worst board to ask for serious advice. 98% of people here just post for their own momentary financial interest. you're better off even on reddit, at least people pay SOME attention to their reputation there.
I personally would put at least 200k in bitcoin if you can do it before the bull market starts. but if it takes a while to get your USD, it may be a questionable decision by then.
if you want to keep your dayjob and just have this for retirement diversify the shit out of it. i'm sure there's some professional financial advisor for that, because that's not hard (if your primary goal is NOT losing money).
but really put at least 50k into BTC, because if it does go to $1m, which it actually could, that'll be like 7.5m if bought in right now.
but it's not the safest asset you can imagine. so just diversify a smaller amount into it.
I'll go interview some financial advisers once stuff slows down. Is it better to go to an independent one or one that works with a bank? What about online places like vangard?
What would be the best way to never have to work again? Just what you said? mutual funds, day trading and property?
I'll check out investopedia
i would wait for a clear indication of a bottom in crypto before trying to toss money that a way.
heres what im doing in the market next week. short bonds next week with a leveraged ETF like TBT when chairman powpow speaks. also long vol in TVIX, UVXY. once the FED is done hiking rates, buy up a shit ton of long govt bonds. fixed income gets shit on for basically being a savings account, but thats retarded. in the 70s bonds outperformed stocks by a wide margin. its all about the interest rate/credit environment. and hell, you can find some great fucking deals buying corporate bonds with fuck huge yields. especially if the underlying also puts out a dividend.
of you dont mind me asking, how much do you actually have? bonds can be very fucking useful for their coupon rates and can easily provide you with passive income, while staying invested and avoiding a lot of the tax bullshit you get for swing/short term trading. if you are working with 6 figures, do yourself a favor and look into fixed income investment. there is a lot to take in, but if you have enough equity in bonds with decent yields, you can easily generate a good amount of money, just by playing this volatile FED environment.
and by the way sorry to hear about your loss. im about the same age, and my folks arent feeling too good either (cancer and hard living), so i feel for ya bud. just be happy that they gave you this opportunity to live a comfy life at least being free from financial stress.
this is a good idea as well, just be wary that rate hikes will affect liquidity in the housing market in a major way. buying some land for yourself is a solid idea, but trying to go full real estate tycoon in this environment is a terrible one. dont get 2008'd
Don't fucking invest in crypto.
Do not fucking invest in crypto.
Invest in bonds, stocks, mutual funds, treasury bills.
Do not fucking invest in crypto. Go for low risk low returns. That way you'll actually make money in the long run.
Buy books about investing and read those. Then invest one year wth a small balance.
Here is what i will do : -100k gold , care about " paper gold " that's shit . -200k in car park -500k to buy and rent house - Do what you want with the rest
Really sorry for your loss, op :/
>I'll go interview some financial advisers once stuff slows down. Is it better to go to an independent one or one that works with a bank? What about online places like vangard? this is probably the best idea, but bear in mind, with a little know how, you can easily outperform most mutual funds and/or total index funds like vanguard. the saying goes, "no one can manage your money better than you can", and its certainly true. and the only thing you pay is commissions, which is peanuts compared to what (((financial advisors))) charge you.
if investing doesnt interest you in the slightest, or it stresses you out too much, then go with the third party advisor. but if you got some brains, and are willing to learn there is a shit ton of opportunity in the markets right now. equities have been more volatile than crypto lately (and there certainly have been a lot more green days, even with the wild swings weve been getting), and in my opinion, its the place to be right now. talk to a brokerage about opening up an account, and start reading some financials and looking for good companies that are performing well in spite of the hawkish FED environment. also, keep an eye out for companies that offer fuck huge dividends. and seriously, dont forget about bonds. if you got a shitton of money there is an incredible amount of opportunity to make a nice stable income of the dividends/yields that they provide.
500k in high interest bonds 350k in high dividend stocks 100k in cash reserves
and this is just me cause this dip is cheap as fuck, but 50k in crypto
>or learn how to day trade don't tell him to do that, most traders lose money, there's no reason to assume OP won't as well
>Invest in bonds, stocks, mutual funds, treasury bills. >Do not fucking invest in crypto. Go for low risk low returns. That way you'll actually make money in the long run this guy right here. he will get shit on for talking sense, but he has the right fucking idea. most people get drawn to daytrading and crypto as they see it as a get rich quick scheme. its not, its more often than not, a way to lock in losses every day. and that fucking sucks. these types of speculative investments are similar to just going to a casino, and way less fun.
however in your case, you already HAVE a bunch of money, so the hard part is out of the way. if you want to speculate in stocks or crypto, feel free, but DO NOT PUT YOUR WHOLE EQUITY IN YOUR GAMBLING ACCOUNT. that goes for either regular markets or crypto. set aside a small percentage of your account and put it in an altogether different brokerage/account so you dont mix it up.
cant say it enough though, if you have a lot of money read up on fixed income investing and bonds. when FED is doing shit in either direction, they become MUCH more profitable.
Sorry for your loss op, but please do not listen to anyone on this board. Go see a professional financial advisor or something...any suggestions you get here need to be disregarded.
I would get masternodes on promising long term crypto projects.
Do your own research and plan your own investments. Don't just hand your money over to the entrenched interests and boomers.
theres actually a good amount of people here giving decent advice. i only see one dude who seriously is advising learning how to daytrade or putting it all in on crypto.
financial advisors and mutual funds are great for a "set it and forget it" type investment, but with a little know how, you can outperform both of them by a wide margin, and for less overhead. its up to him to decide, but theres some good ideas in this thread
A balanced (Vanguard) index fund. Simple, easy, best expected returns, low risk, no management. Anything else, you might lose money mismanaging. You will never have to work again in your life as long as your spending is reasonable. Good luck.
Derp. Mommy plan my future.
Hey user sorry for you lose. My father is a pro trader but semi retired he used to give mw stock advice but now he just tells me to put my money in this fund. give these guys a call they are the real deal and of course dory. '