Someone is seeking my advice regarding a decent amount of money. Legal money. Female, early forties, no children, securely employed. How would you advise?
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Lump sum US$ what to do with it?
2019-06-29 18:35:16
2019-06-29 18:38:12
i told her to convert it all to gold.
2019-06-29 19:46:18
need my account#?
2019-06-29 21:48:53
In reply to cricketest
Roth IRA 
any brokerage such as TD etc she can open with and put it in.
Make money by the beauty of compound interest.
Link Text
2019-06-29 21:51:56
In reply to cricketest
Invest in commercial properties. Nothing steady income and building equity.
2019-06-29 22:04:32
In reply to Runs
Roth IRA
Run from this and fast.
2019-06-29 22:18:20
In reply to Emir
Why? Roth or Traditional, whichever is more beneficial to your situation.
8-12% average annual returns.
2019-06-29 22:23:45
In reply to Runs
how secure are those?
2019-06-29 22:40:22
In reply to doosra
It is investing in stocks and bonds so you are subject to market fluctuations, you will need to diversify based on your age etc.
How safe is your Roth IRA from its administrator going out of business?
Another safety question to ask is whether your Roth IRA is safe from the company administering it going out of business. In most cases, the answer will be yes. Reputable brokerages offer insurance. Just as the FDIC insures bank accounts, the Securities Investor Protection Corporation (SIPC) insures brokerage accounts up to $500,000 per account (including up to $250,000 in cash).
Trick is to diversify your assets, have multiple investments, do not put all your eggs in one basket. Real estate, Ira’s, CD’s, even emergency savings.
2019-06-29 23:07:47
In reply to cricketest
Ask her to marry you.
Get down on your knees. Make the proposal look 'legitimate'.
2019-06-30 00:10:53
In reply to cricketest
hask dis ya pom
2019-06-30 01:06:27
In reply to cricketest
A forty something still has another 40 plus years to live according to life expectancy outlook. So, I would do what Runs says and open a Roth IRA with a Target Date Fund that has automatic asset allocation and rebalancing!
2019-06-30 03:03:02
In reply to StumpCam
Yep
2019-06-30 03:43:50
In reply to Runs
... and interest-free savings accounts.
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2019-06-30 11:11:42
In reply to Runs
Depends on whether the person is Canadian or US resident.
2019-06-30 11:51:00
In reply to cricketest
Invest in Guyana
2019-06-30 13:21:45
ok more info...
wants an account that gives access to funds if needed in a pinch, but does not want to incur any penalties. This money has already been taxed.
She was told by the adviser for the annuity account: to increase her pre-tax annuity contributions, take home minimal pay from her paycheck and live off the lump sum until it runs out. When the money runs out, then change the annuity contribution back to its previous limit.
Of course, this ties the money up long term and there will be penalties if she has to use any of it. In the short term though, she would benefit because her tax liability will be very low.
2019-06-30 13:28:22
In reply to Drapsey
you're a funny dude...
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