I am inheriting 40 grand.?

Question

I have no idea how to invest, i would like to make a million in 25 years, or sooner!!! is it possible? And how do you do it safely?

Answer 1

honestly you could do several different things to make 1 million if 25 years.. .you could put that 40 grand in some good mutual funds that earn 12 percent a year on average.... BUT i recommend paying off all of your debt first.. get rid of paying other people to manage your money.. get rid of your credit cards and car payments.... once you get rid of those then you can take those payments that are going to visa,master card,, the loan company and turn those payments into investment checks monthly... those monthly investments will add up fast if you have no debt.  

Answer 2

Please speak with a financial adviser at your local bank. If you spend your windfall without consulting an adviser the money will go much faster than if you invest. You can speak to one without any obligation so if you listen and still want to think it over you can.

Answer 3

you should consult an attorney before you make any decision about what you plan to do.because you don't want to blow your inheritance on something that might  not work. so think carefully and be real about what you want to do.

Answer 4

FIRST! Invest in Yourself and Learn How to Trade!

1. Disciplined Trader (Mark Douglas) ***HIGHLY RECOMMENDED***

2. The Abundance Course http://www.ReleaseTechnique.com

3. Secrets of the Millionaire Mind T. Harv Eker

4. The Power of Now Eckhart Tolle

5. Mindtraps-Unlocking the Key to Investment Success (Roland Barach)

6. Mastering Futures Trading (Bo Yoder)

7. Reminiscences of a Stock Operator (Edwin LeFevre)

8. Trading options and futures (Joe Ross)

9. www.ChartingYourFutures.com (I listen to the workshop every week)

10. www..Elliottwave.com  Consistently nails highs/lows in Stock Market

P.S. If you are only interested in stocks then I recommend www.SharkInvesting.com in place of #6, 8, and 9 above

Answer 5

buy 40,000 lottery tickets