$$$$$1,000,000 WHAT should I DO?

Question

I inherited 1,000,000 I don't know what to do with the money but I want advice from anyone that has ideas on how and where to invest.

Answer 1

$1M! If you give it to me I can start a business in which you will become the main shareholder and pay you 10% every year. What? You don't trust me?

Well, otherwise you gotta put them with a conservative and solid wealth management program or a healthy hedge fund (with Buffet ...). Or you can start a business. Otherwise you can become a business angel - or part of a local board (business angels are people with excess liquidity who study business plans for new start-ups and finance (equity) those who qualify/they like.

There are many other choices than the stock markets.

Answer 2

Money is the root of all evil. Burn them all, quick!

Seriously, though, although a million bucks is a lot of money, it is still not enough for one to be so-called financially free. In other words, it's not enough for you to just retire and shop everyday for the rest of your life.

So, I'd recommend you to acquire knowledge on how to multiply that million dollars reliably over time. Read up on investing, preferably stocks, and try your hand at it. It should not be difficult to earn 20% or more of that every year from prudent investments.

Right now, stocks are cheap, and even though the market tends to sink, you can still make money by shorting at the right times. (Or you can go long on those short ETF funds like QID, DOG, SH etc.)

Answer 3

Wow!  You are lucky.  Want to be my sugar mama ;)  Hmm, since the stock market is tanking, it's hard to find a winner.  Maybe you can put some in the bank, the rest in Berkshire Hathaway.  They always invest conservatively.  But maybe most can just go in a CD for now.  Not sure if they take that much though . . . .

Answer 4

I'll take it.

Answer 5

Well, all I know is to AVOID stocks. Considering U.S economy (assuming you are American), alternative oil use should skyrocket in the coming decade or two.

Just enjoy it. ;)  Or you could give it to me...

Answer 6

how do you make a million dollars in the stock market?

easy, you start off with 10 million first!

Answer 7

This calls for a consultation with a financial planner. Find one who works by the hour, not one getting  a commission from products he/she sells.

Answer 8

U r lucky!!!!!!!

Whatever u do,do it in right way!!!!!!

can u understand??!!

my advice to become a big dealer of u r company like microsoft,wipro etc.,

can u understand??!!

all the best of luck

        with care

                      SANKAR

Answer 9

First of all you must set up an estate plan which will provide you protection and tax breaks!!!!! Above and beyond this looking at your current life style how much would you need to sustain yourself on a monthly basis!!! There are several avenue you may take!!! But there are wiser than most also!!! What alot of intellegent investors are doing is building a foundation which will provide you with a return- monthly income and room for growth in the future!!!! So look at you options and should you feel so compelled I could certainly point you in the right direction!!!!

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Answer 10

Don't do ANYTHING until you talk to an investment counselor and a tax attorney!

Make sure you pick an investment counselor who works for a fee, not one who works on commission!

Never trust ANYONE who works on commission to give the advice that is best for YOU.

P.S. - If you're rich, I'm single! lol

Answer 11

start a college fund for ur kids... you'll still have plenty left over!

put it in a ******* bank

you'll earn even MORE money with interest :]

put it in a CD or something!!!!

Answer 12

Put them in managed accounts. Open up a wealth management account, for example.

good luck.

Do not think you have a lot of money- a million dollars is worthless and you have to be prudent and realistic and preserve as much value as you can for the future.

Answer 13

quit bragging. i can barely afford to live. i'm lucky to have internet.

actually, you should give it to homeless people.

Answer 14

ok first thing, stop telling people you have inherited a million dollars, people take advantage of those who dont know what to do with their money. i would strongly reccomend that you educate yourself in the world of fincances and investing, i am not sure what prior knowledge you have so ill give you my full advice.

i would start by visiting the rich dad website(link below) the richdad company is a company which aims to educate people in financial intelegence, and they do a wonderful job. i would reccommend that you read their books:

*rich dad poor dad(a brilliant introduction into the world of finances)

*Cash flow quadrant

*Rich dad's guide to investing.

they are three must reads before you do anything with the money. on top of that i would also suggest that you read as many of their books that you can.

next i would reccommend that you find some investing courses that you can attend. Most are reasonably expensive(around 2,000-10,000 dollars) however if you make more money than that out of their wisdom then they are worth it. investing money in your own intellegence is the most worthy thing you can do, because no one can take that away from you.

I would then suggest that you find a GOOD financial planner, accountant, solicetor etc. the reason i mean a good financial planner is because so many of them are just sales people who dont really know or trust what they tell you. as a rule of thumb, unless a person is wealthy dont accept their advice on how to become wealthy. with one million dollars cash if you use it correctly there is no reason that you should ever need to work again in a few years time.

One bit of my own advice and that of many of the wealthiest people on the planet, is start small learn what you are doing before you listen to stockbrokers or financial planners. Create the base of your wealth in property, although many 'experts' say stay out of property, the reason is because it has just lost alot of value, which makes it cheap thus a bargin. however again learn what you are doing before you buy any.

i would like to wish you the best of luck. and i would advise you strongly against putting money in mutual funds or stocks(read rich dads prophercy from the rich dad company). and most importantly have fun

Ps: to start right now i would reccommend that you start by listening and viewing all the free podcasts on the rich dad website, the link is also below.

Answer 15

$1,000,000 is nothing these days. Save it all, don't spend. Only spend the interest you earn off of it. That is not nearly enough money to retire with any more.

I also fail to believe someone with the username Sparkle would have a million dollars though.

Answer 16

There is nothing left in this world to do as such.

but there is a chance of trying to establish a new living world on moon. take international help, get married to dozen wives & take them to moon along with few essentials & settle there.

  if god helps you in your endeviour, you may be founder of new origin.

Answer 17

If you have no clue, you need to find a financial adviser. You're not going to get the kind of answer you need here. A lot of factors come into play here. Your age, your income, your risk profile, what your long term goals are for this money. You need to figure out the answers to some of these questions before you visit with a financial adviser. I suggest you read some books on the topic so you do not rely entirely on a financial adviser for all your decisions. You need to take at least some control. I suggest starting with www.suzeorman.com

That all being said, I'd suggest finding a family of mutual funds you are comfortable with. Put the money into a money market fund in that family. Then pick out a group of 4-5 mutual funds within that group you want to invest in. Domestic stock funds, growth funds, international funds, bond funds. And then SLOWLY move money from the money market fund into these mutual funds you chose. That way if the market collapses you will not have invested all that money in at a top. You will benefit from dollar cost averaging where you'll buy more shares at lower prices and less shares at higher prices.

Read a couple of books, get a financial adviser, be in a position to make some decisions yourself and you'll do well with your windfall. Good luck.