Investment Advice

[KEARYCOLBERT83]

I am going to be meeting with a company later this month in regards to investing some recent inheritance. I do not want to walk into there not knowing anything, and having to just agree with what they say. I have had multiple people tell me to put a large portion into Roth IRA's. I am 22 and just want to have a secure method to invest most of my money. I may want to be a little more aggressive with a smaller portion.

Any ideas? Or certain things that are guarantees over time? I have also been told by a family friend that school bonds are a good thing to do. He said they usually pay around 5% in a time span that is under 5 years.

[37Jetson]

There are no guarantees. If there were, you as the individual investor would never get a sniff at them.

Please seek professional investment help based on your goals.

[KEARYCOLBERT83]

Originally Posted by 37Jetson

There are no guarantees. If there were, you as the individual investor would never get a sniff at them.

Please seek professional investment help based on your goals.

Like I said I am meeting with them later this month, just wanted some ideas before I walked in.

[Andrew Jones]

There's an annual contribution limit for Roth IRAs (currently $5,500) so it will take years for you to put a large amount into one.

[Hawksmack]

Stocks are peaking. Bonds are junk. Before letting an advisor split it up into mutual funds do more research. I honestly would keep cash in cash especially since they're are no fees and no penalties until you learn about the market and how it works. They're is a ton of money to be made just not in the next year and a half. They're is a correction on the way.

[KEARYCOLBERT83]

Originally Posted by Andrew Jones

There's an annual contribution limit for Roth IRAs (currently $5,500) so it will take years for you to put a large amount into one.

Thanks for the info, I intend to do a yearly contribution though. Did not know it was a minimal amount. But as I stated I am still very young so I have time to add to it.

[amazingpacks]

Put everything in a Dividend yielding stock (something like a utility company similar to HE ). If its is a large amount your investing, you can get some small checks every few months or just reinvest it.

[Timmay]

If you're using a financial adviser I would use a fee based adviser over one who earns commissions. That way he's working for you and not the fund companies. I would open the Roth with a discount broker so you can self manage for very low fees and commissions.

[JMarchand1981]

Originally Posted by 37Jetson

There are no guarantees. If there were, you as the individual investor would never get a sniff at them.

Please seek professional investment help based on your goals.

This is somewhat true. CDs and most savings accounts are guaranteed at the rates that you lock in. However, they are locked in at low interest until maturity so consider that.

Originally Posted by Andrew Jones

There's an annual contribution limit for Roth IRAs (currently $5,500) so it will take years for you to put a large amount into one.

This is entirely true. The amount is subject to change and being 22 there are better investment vehicles for your demographic.

Originally Posted by Hawksmack

Stocks are peaking. Bonds are junk. Before letting an advisor split it up into mutual funds do more research. I honestly would keep cash in cash especially since they're are no fees and no penalties until you learn about the market and how it works. They're is a ton of money to be made just not in the next year and a half. They're is a correction on the way.

This entire post looks away from inflation and the actuality that cash made today is by-and-large worth less than that same cash today. There is a correction but you invest for the long haul. Take a moment and google William danoff, his investment strategies, etc etc. he runs the second largest privately held mutual fund in the united states. Fcntx is the ticker. Give It a look.

[chezball]

Originally Posted by Andrew Jones

There's an annual contribution limit for Roth IRAs (currently $5,500) so it will take years for you to put a large amount into one.

You have to show income,you can't just put money in a Roth.
It's also tax free,when you decide to take the money.

[amazingpacks]

I think the "amount" is important to make the final decision. If you got enough to purchase a small House , do that and hire a property management company to run it until you learn the in and outs of home ownership. Location,location,location.

[LordLansdowne]

Originally Posted by chezball

You have to show income,you can't just put money in a Roth.
It's also tax free,when you decide to take the money.

Correct. A Roth must be funded with earned income which the inheritance is not. Obviously you can just divert money that was earned from elsewhere.

It is tax free, but the early withdrawal penalty is still in place until you're 59 1/2 or using it for a qualified reason.

I used to work at a mutual fund transfer agency and dealt with various account types. Not that up on the recent rules.

Personal opinion is you should do whatever you want with the money. Having it sitting in a retirement account wouldn't be my first choice. You can think of some creative ways to make some money off it (no matter the amount).

I'd be very wary of the percentages the people you are meeting with charge. It's hard to make money when you start off a percentage in the hole.

[bradjames12]

My best advice for you is to not take any advice from a forum that is dedicated to pieces of cardboard.

The first person that responded to your question answered the question correctly.

[SportsItUpCards]

Physical gold and silver bars or coins

Watch youtube videos to get a crash course on any investment

[chipmaster]

Frozen Orange Juice Futures!

Mortimer and Randolph Duke have been touting them for years

[preakness]

Grey horses on the turf

[Prospect Rush]

IMO asking for investment advice on a gambling (card) forum is not wise. The good investment firms have $500k minimums, not exactly open to everyone.

[Boo]

As many cases of 2014 Bowman Chrome baseball that you can buy!!

[chezball]

It is tax free, but the early withdrawal penalty is still in place until you're 59 1/2 or using it for a qualified reason.
Actually this is incorrect,you can take the money out after 5 years.You can't touch the interest.

[XL5]

Don't put all your eggs in one basket. That's about the only universal financial advice I can think of. Everything else is highly dependent on your specific situation and goals.

[HOFcollector]

I just invested my life savings in Ray Rice cards...buy low, sell high $$$

[greentown]

Have you considered opening a posh flight attendant school?

[awz50]

Why are you asking where to put YOUR money on a card website?

[mike barnes]

we went the buy a house route and now have 2 its a great feeling to acually get 2 cheaks in the mail and have them pay all your bills and your income from a job be free and clear the great think about rental housing thank god we have 2 good tennents though otherwise it can be a nightmare also makes tax season a mess with income property though

[amazingpacks]

Originally Posted by mike barnes

we went the buy a house route and now have 2 its a great feeling to acually get 2 cheaks in the mail and have them pay all your bills and your income from a job be free and clear the great think about rental housing thank god we have 2 good tennents though otherwise it can be a nightmare also makes tax season a mess with income property though

Your Probably the smartest person mike. I suggested he get a property management company to take care of all the "headaches" that landlords have until he understands how renting works and the company can take the liability.