$10,000 to in Invest. Where should I start?

[SuburbanPimp]

As a result of being in a Car Accident in August that I was not at fault for and My wife being a current Insurance Adjuster and me formerly working in Insurance. We were able to win our settlement demand for $30,000 without using an attorney so we get a direct check for it..

I have already paid all of my medical bills using PIP thorugh our own Insurance company so they have all been taken care of

This money also does not include my Jeep which was totaled and I was given $9,700 for so I have already replaced that vechicle.

We still have a UMI claim so chances are we will recieve additonal sum in about a month or so. Possibly another $20,000 but not sure yet.

But I want to invest some of this money and help it grow. I'm willing to put it up for 5-10 years if that would produce nice returns.


I just want to get some feedback from my Coli fam on the best type of investments to make. I'm not looking for anything crazy, I'm pretty conservative money wise but I'm willing to take some small risks...

And No, I'm not trying to move them bricks....

 

[Blackking]

think of a few things. Not just one.

 

[SuburbanPimp]

Yeah, I'm thinking of couple CDs (Certificate of Deposit) for sure..

Maybe a Mutal fund

I know its good to kind of break the money up and put it in a few different spots

I've been hearing about Forex Managed Accounts as well. Does anyone have any good info on those?

 

[Artificial Intelligence]

..............................

 

[Blackking]

Yeah, I'm thinking of couple CDs (Certificate of Deposit) for sure..

Maybe a Mutal fund

I know its good to kind of break the money up and put it in a few different spots

I've been hearing about Forex Managed Accounts as well. Does anyone have any good info on those?

well I'm bout to stack CD's. If you're conservative look into this. I'm not sure if it's called stacking or not, but you invest a couple thousand or one thousand in a five year, then more into a 4 year, then 3 year, then 2 year, then 1 year...

As they mature you can reinvest the profits. The increase isn't like a profitable stock, but it's safe, it forces you to save, there is an increase every year, and year after year you have more to invest.

 

[Ohene]

ETFs > Mutual Funds breh.

 

[SuburbanPimp]

well I'm bout to stack CD's. If you're conservative look into this. I'm not sure if it's called stacking or not, but you invest a couple thousand or one thousand in a five year, then more into a 4 year, then 3 year, then 2 year, then 1 year...

As they mature you can reinvest the profits. The increase isn't like a profitable stock, but it's safe, it forces you to save, there is an increase every year, and year after year you have more to invest.

That actually sounds like a good plan, I'm conservative and I'm also thinking long term. but I also don't want to have alot of the money locked up for more than 5 years so this seems to give me flexible to alter the gameplan a little each year.

ETFs > Mutual Funds breh.

Yeah, Mutual Funds don't look like the best bet the more I'm reading about them currently...


More than likely we'll end up hiring a financial advisor to get some advice but I'm very leery about that because My Dad dealt with one about 7 years ago who got him to make some bad investments so I don't really trust them cats.

Thats why I'm trying to do as much research on my own and get as much information I can about it. Me and wifey both had parents who made mistakes with their money so I think thats why we want to be a little more conservative with ours

 

[Blackking]

That actually sounds like a good plan, I'm conservative and I'm also thinking long term. but I also don't want to have alot of the money locked up for more than 5 years so this seems to give me flexible to alter the gameplan a little each year.






Yeah, Mutual Funds don't look like the best bet the more I'm reading about them currently...


More than likely we'll end up hiring a financial advisor to get some advice but I'm very leery about that because My Dad dealt with one about 7 years ago who got him to make some bad investments so I don't really trust them cats.

Thats why I'm trying to do as much research on my own and get as much information I can about it. Me and wifey both had parents who made mistakes with their money so I think thats why we want to be a little more conservative with ours

NO advisors. It's the internet age.. just look it up. My boss didn't invest 600K into *a popular website* and even tho he's still rich now.. he would have been stupid rich had he not paid that guy for bad advice. If your investments don't work out, at least u didn't pay a guy to give u mediocure advice.

You have your own best interest at heart, and most wealthy people have went with their gut to get that way.

 

[The_King_of_Everything]

Start an online buisness

 

[DSGB]

I would probably avoid the stock market until early next year. I think we will see a slight correction around the election. I would look to get after the new year when the volatility might be a little lower.

With your $10k. I would say, buy a few book, read many financial websites, and don't touch it for a few months. Educate yourself a bit and get a plan. If you have patience and are willing to do the research, you can manage your funds just fine.

Just try to grow your $10k to $10.5k in year 1. Slow and steady wins the financial race. Trying to "flip" your $10k will have your ass in jail or broke really fast.

 

[Brown_Pride]

do you have any aspirations of the entrepreneurial persuasion?

Or you looking to just sit back and watch it grow.

I have a business venture you can hook into, Chicanos Against Social Harassment, our main revenue source will be coming from t-shirt sales. We need seed money.

You can mail a check directly to me and please make the check out to the abbreviated company name C.A.S.H.

 

[SuburbanPimp]

I would probably avoid the stock market until early next year. I think we will see a slight correction around the election. I would look to get after the new year when the volatility might be a little lower.

With your $10k. I would say, buy a few book, read many financial websites, and don't touch it for a few months. Educate yourself a bit and get a plan. If you have patience and are willing to do the research, you can manage your funds just fine.

Just try to grow your $10k to $10.5k in year 1. Slow and steady wins the financial race. Trying to "flip" your $10k will have your ass in jail or broke really fast.

Yeah I'm not in any rush so I'm going to do alot of research on my own to to save the money I might have spent on a financial advisor. I don't really NEED to touch most of it for the next 6 months. but I'm still human and I know having immediate access to that money for an extended period time would make it hard not to buy a few selfish items


10k to 10.5k? $5,000 a year is good for me. I'm not looking for a get rich type scheme by any means. Me and the wife have good jobs and don't have any major debt so we just want the money to grow gradually...We have most of the major things we need for our home

And nah, I'm not trying to flip sh!t. I have already had my fair share of legal troubles in the past. I finally got everything cleared up and that stuff behind me and since I've left that life alone alot of good things have been happening to me so I'm not trying to go that route and fukk up my good karma..

 

[SuburbanPimp]

do you have any aspirations of the entrepreneurial persuasion?

Or you looking to just sit back and watch it grow.

I have a business venture you can hook into, Chicanos Against Social Harassment, our main revenue source will be coming from t-shirt sales. We need seed money.

You can mail a check directly to me and please make the check out to the abbreviated company name C.A.S.H.

Of course I would love to have my own business, but after seeing a few people around me fail at that I'm a little leary. I would be more interested into investing into something like some Vending Machines, or maybe a redbox or something like that where if placed properly can make me a little money on a consistent basis..

 

[SuburbanPimp]

Start an online buisness

I've been really thinking about this lowkey as well too, I just don't want it to be something I have to keep pouring money (and time into) to get result. I'm at laid back person by nature so I'm not trying to increase my stress load in exchange for some extra money

 

[Domingo Halliburton]

don't touch CDs, they're yielding less than 1%/year. Unless you are that conservative. Look into mutual funds and ETFs.

My friend is in CDs and I just got back double digit returns in the stock market. I'm not sure I'd get into the market until this quarter is over though.