Posted by admin on 19 Jul 2008 7:37 pm. Filed under Personal Finance.
sweetpeachoh asked:
I will inherit large amounts of money from two different sources but I don’t know what would be the smartest way to invest it so that it would continue to make money.
5 Comments to “What types of investments or bank accounts are better if I have large amounts of money?”
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Greed_2.0 said:
On July 22nd, 2008 at 12:06 pm
Liquid capital is bad, talk to a financial planner.
Generally, stable hedge funds and real estate are decent.
Geeeyaaa said:
On July 23rd, 2008 at 3:47 pm
If you’re getting large amounts of money then you should definitely speak to a professional financial adviser.
They will have better answers than these guys at Yahoo Answers.
gozaine said:
On July 24th, 2008 at 3:31 am
Personally I’d invest in property every time, but then I have a bit of an obsession with property. You would do well to consult a financial adviser about the best investment for you.
Mooseles said:
On July 25th, 2008 at 4:44 am
Definitely consult a financial adviser. You should make a point of finding a fee-only financial planner (see link below) so that you can be assured that the advice you get won’t be commission-driven.
Keep in mind that FDIC insurance only covers a limited amount. I put my inheritance in a brokerage account, which has higher insurance limits.
zioncanyon said:
On July 25th, 2008 at 1:53 pm
play it safe and open a tax free money market fund specific to your state of residence…you can earn about 3.5 % tax free from state and federal and write checks from the account as well…go to vanguard.com and look at the money market accounts…if not that, then go to countrywide.com and look at their savings rates…very good
On July 22nd, 2008 at 12:06 pm
Liquid capital is bad, talk to a financial planner.
Generally, stable hedge funds and real estate are decent.
On July 23rd, 2008 at 3:47 pm
If you’re getting large amounts of money then you should definitely speak to a professional financial adviser.
They will have better answers than these guys at Yahoo Answers.
On July 24th, 2008 at 3:31 am
Personally I’d invest in property every time, but then I have a bit of an obsession with property. You would do well to consult a financial adviser about the best investment for you.
On July 25th, 2008 at 4:44 am
Definitely consult a financial adviser. You should make a point of finding a fee-only financial planner (see link below) so that you can be assured that the advice you get won’t be commission-driven.
Keep in mind that FDIC insurance only covers a limited amount. I put my inheritance in a brokerage account, which has higher insurance limits.
On July 25th, 2008 at 1:53 pm
play it safe and open a tax free money market fund specific to your state of residence…you can earn about 3.5 % tax free from state and federal and write checks from the account as well…go to vanguard.com and look at the money market accounts…if not that, then go to countrywide.com and look at their savings rates…very good