Money suggestions

[valeriedl]

My grandfather recently passed away and I found out that I'm going to be inheriting a lot of money.

I'm planning on putting some in my checking account and putting some into a savings account. This way if I need to get to this money I'm able to quickly.

Does anyone have any suggestions on what to do with the rest. I really don't want to put it into stocks.

 

[walkerjm3]

Vacation perhaps?

 

[Dolores]

If you're inquiring about saving that money for retirement you might want to look into a financial advisor. I'm horrible at the whole financial game - I understand it but am definitely not a gambler. So I was lucky that a coworker told me of a great guy who handled her finances. Been with him ever since and he has given me sound advice and takes the time to explain all the financial ins and outs.

One thing he suggested was that I start a MassMutual fund as it's a nice balance to my SEP & 401k.

But also besure to use some of the money for yourself to just have a good time

 

[BIGMAN131307]

Donate some to the Epilepsy Foundation, Red Cross, St. Jude Children's Research Hospital.

If I came into lots of money those are a few places that could use some help.

 

[arnie]

Definitely talk to a financial adviser. There are many options for investing depending on your age, the level of risk you want to take, your long-term goals, etc. I have most of my retirement savings in a broad range of mutual funds. Those are very safe and can give a fairly predictable return. I'm not sure how you go about finding a good one, but I imagine asking your banker could be a good place to start. I think that Dave Ramsey, who has a radio show and has written books on investing, might also have some good ideas. I imagine he has a website.
Certificates of deposit are very safe, too.

Oh yeah, getting rid of all your debt would probably be a really good thing to do, too!
Good luck!

 

[N Sperlo]

Financial advisor... Invest. Make sure that money can turn into more money down the road.