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

[SuburbanPimp]

Without knowing your debt situation, paying off debt is probably a higher rate of return than anything for the next 6 months. BTW. Do you have a 6 month emergency fund?

This is true, but we have very little debt. I got my first credit card in college and that was also my last. I learned then if I don't got it, don't spend it so I never got one again.

No dreaded student loans either, just a few small things to clean up on my credit report which will take no more than $3,000

Up to this point we have had a 3 month emergency fund so naturally we will add to that for good measure

 

[Brown_Pride]

I was gonna google it, but why lie...

it's so old it wont come up on google, i tried, that's why i'll give + rep

 

[Marciano]

I disagree with who mentioned not going to see a financial adviser. I could see being leery because a family member being duped by a bad one. But not all are like that, a lot have the client's interest in mind. Also, someone said doing your own research....but I can tell you that the average American is too lazy to do the research. Plus there's a lot to understand about the market, that's why seeing a professional is a good idea.

I do agree that CDs are jive weak. You would want to have a diverse portfolio though, possibly some ETFs, mutual funds, stocks & even possibly some annuities

 

[rastafarwrite81]

I disagree with who mentioned not going to see a financial adviser. I could see being leery because a family member being duped by a bad one. But not all are like that, a lot have the client's interest in mind. Also, someone said doing your own research....but I can tell you that the average American is too lazy to do the research. Plus there's a lot to understand about the market, that's why seeing a professional is a good idea.

I do agree that CDs are jive weak. You would want to have a diverse portfolio though, possibly some ETFs, mutual funds, stocks & even possibly some annuities

he should seek a financial advisor, but any advisor who recommends an annuity for someone under the age of 47 is an a$$hole.

Unless you plan to invest more than the 10k you initially planned, you won't lose by investing in the spdr 500 etf. I wouldn't recommend buying stock, until you understand what to look for, fundamentally speaking of course.

 

[Marciano]

he should seek a financial advisor, but any advisor who recommends an annuity for someone under the age of 47 is an a$$hole.

Unless you plan to invest more than the 10k you initially planned, you won't lose by investing in the spdr 500 etf. I wouldn't recommend buying stock, until you understand what to look for, fundamentally speaking of course.

As far as annuities go, there are fixed....which are more for older clients, yes & you have variable. Annuities are a good use for a retirement tool, it's good that they're tax deferred too.

Especially recently with Wells Fargo dropping a survey saying a lot of Americans will be trying to push back retirement until their 80 & there could be 105 million Americans living at the poverty level or living in poverty....due to improper retirement planning.

 

[Domingo Halliburton]

I don't think its a mistake bring the questions here. I just wanted to get some opinions from people who don't know me and don't have their own interest in mind. It never hurts to get more input and I know some Coli cats have a lot of good information.

I hear you on the alternative investing, I just wanted to see if any was familar with Forex...

I wouldn't touch options or forex unless you're a sophisticated investor.

 

[rastafarwrite81]

As far as annuities go, there are fixed....which are more for older clients, yes & you have variable. Annuities are a good use for a retirement tool, it's good that they're tax deferred too.

Especially recently with Wells Fargo dropping a survey saying a lot of Americans will be trying to push back retirement until their 80 & there could be 105 million Americans living at the poverty level or living in poverty....due to improper retirement planning.

annuities are meant for retirement purposes which is why there are penalties for withdrawals before age 59 1/2.

the only way to circumvent that is to do a 72 T which allows you to begin withdrawals prior to age 59 1/2. Only drawback is that distributions must continue to be made until age 59 1/2 or for a minimum of 5 years.

 

[SuburbanPimp]

I disagree with who mentioned not going to see a financial adviser. I could see being leery because a family member being duped by a bad one. But not all are like that, a lot have the client's interest in mind. Also, someone said doing your own research....but I can tell you that the average American is too lazy to do the research. Plus there's a lot to understand about the market, that's why seeing a professional is a good idea.

I do agree that CDs are jive weak. You would want to have a diverse portfolio though, possibly some ETFs, mutual funds, stocks & even possibly some annuities

I hear you, there have been a few who have offered a free consultation so it won't hurt to at least get some feedback from them.

Like I said there is no rush and I am willing to do the the proper research. Me and the Wife are really hands on and due are due dillengence when it comes to issues like this..

After my accident everyone was trying to get me to get a lawyer since I have some serious injuries and my car was totaled, but I worked at geico for 5 years and the wife is BI insurance adjuster now so we were like and give a lawyer 30%? hell no.... We did the the paperwork, requested all the bills and medical records, made all the calls. it was a lot of work but once its all said it done we will probably end up with 60K all together from this accident.

Most of the money will probably go towards long terms savings and our house..

In my younger days I would have been all about flipping the money and probably doing some dumb shyt. But I'll be 30 tomorrow with 2 kids and a wife so I'm trying to set us up for the future...

 

[rastafarwrite81]

I hear you, there have been a few who have offered a free consultation so it won't hurt to at least get some feedback from them.

Like I said there is no rush and I am willing to do the the proper research. Me and the Wife are really hands on and due are due dillengence when it comes to issues like this..

After my accident everyone was trying to get me to get a lawyer since I have some serious injuries and my car was totaled, but I worked at geico for 5 years and the wife is BI insurance adjuster now so we were like and give a lawyer 30%? hell no.... We did the the paperwork, requested all the bills and medical records, made all the calls. it was a lot of work but once its all said it done we will probably end up with 60K all together from this accident.

Most of the money will probably go towards long terms savings and our house..

In my younger days I would have been all about flipping the money and probably doing some dumb shyt. But I'll be 30 tomorrow with 2 kids and a wife so I'm trying to set us up for the future...

I am a financial advisor, listen if you will end up with 60k and you are serious in not touching this for 5-10 years, your best bet is to take 50k and invest in a balanced investment advisory program, specifically a wrap account. These accounts tend to offer you everything, Mutual funds, etfs, reits, etc, so you will be instantly diversified as well as professional managed.

these accounts charge annual fees which are deducted from the gross returns on the portfolio, so you will receive a net return, which is the return you see on a prospectus or fact sheet.

the remaining 10k you can place in savings for emergency's or invest in a government treasury mutual fund, if your opposed to the low savings account rates

 

[Midwest]

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....

not to rain on any ones parade, but the coli is not an ideal place you want to discuss serious financial investing. It you are with a credit union or bank go talk to a financial adviser. Smarten up man

 

[50CentStan]

Hit up Ugogugwas cousin in Lagos, Just give him the $10k up front so then in return he'll pay you 100k.

 

[TheBigBopper]

S&P 500 ETF or dividend paying blue chips. re-invest the dividends into more shares and you'l be sitting pretty in 15-20 years because of all that compounded interest

 

[TheBigBopper]

also, stay away from bonds right now. duration risk is too damn high and yields are too fukking low, even on junk grade shyt. nikkas paying above par prices for B- credit

 

[Reality]

if i were put in the same situation...i'd put ~$8k in a mutual fund and use the other $2k for some speculation plays on some stocks that have been dogged out recently.

 

[rastafarwrite81]

also, stay away from bonds right now. duration risk is too damn high and yields are too fukking low, even on junk grade shyt. nikkas paying above par prices for B- credit

bond mutual funds are doing ok though. however, some of these fund managers are assuming more risk than their benchmarks