What should I do if I had 50000 dollars or more through an inheritance?What should I do with the money?

Question

JUST HELPFUL ADVICE PLEASE

Answer 1

1.Pay your bills so that you have no debt

2.Interview a Fee-Only/ No Comission Certified Financial Planner or three and have them show you what they think would be a good plan for you.

3. Hire the CFP that you like with the plan that you like best and follow the plan.

4. Don't go and buy "stuff"

Answer 2

payoff any credit cards you have, invest some in CDs or online savings accounts, this site has reviewed several banks, http://www.monitorbankrates.com

You might also want to invest some in mutual funds if you are investing for the long term.

Answer 3

Put half into CD's and the other half in a savings where you can get it out as needed.  

Answer 4

Invest it in mutual funds.  Fidelity is a good place.  Or if you feel like, consult a financial planner - but be prepared to pay them a decent amount.  Is their advice worth the cost?  It's anyone's guess./

Answer 5

Pay any bills you have and invest the rest.

Answer 6

Pay off any debts you have and save the rest or use it to go to college.. Whatever you do don't just blow it as I had 25k at age 18 and blew it all and now regret my bad mistakes.  But the best thing would be to go talk to a a well regarded investor and see what they recommend investing in.

Answer 7

pay your bills. don't buy a car or anything like that. Buy something you always wanted that is less than 1000 that should make you happy and satisfied so you wont spend the money like crazy either pay for school or invest it.

Answer 8

   You can give it to me, I will find a use for it.

Answer 9

I'd get to the bank and talk to an adviser. I'd want money put  in short term placement (savings account), medium term (placement for a year or two, but that I can cash in if necessary) and long term placement (like I can not touch it for five years or more. Money grows and give me time to thinks, forget it's there for a while).