Where to invest money left in will and from sale of grandma's house?

Question

Wife's grandma pasted in Dec 07, we married in Apr 08, she has approx 30 k in a money market acct and is about to get approx 60 k from sale of the house. Where should it go? IRA or CD or what?

Answer 1

Any decent mutual fund should bring you an 8% return each year. If you reinvest your earnings and continue to add a few hundred a month you could have a million bucks by the time you are ready to retire. That million would return you on average 80 grand a year in interest which you could take instead of a paycheck.

Now is a GREAT time to invest! If you have money to invest its a buyers market across the board.

Answer 2

If your wife has a money market account surely she's capable of speaking to an IFA herself?  Not the best time to buy houses or shares (even in funds) I'd think.

Answer 3

i would buy a house to rent out you will get monthly income and when you want to sell it you will make more money if you can wait a while.

Answer 4

Invest it in something safe. Either way, you'll be looking at paying some sort of capital gains on the income received; and this income might throw the two of you into a higher tax bracket.

This is a matter you'll want to discuss further with a financial adviser of some sort. Although there is much to be learned from contributors on these forums, this is not where I'd be seeking advice.

There are potentially some major tax consequences depending on what you choose to do with the money. Therefore, go speak with a reputable financial adviser.  

Answer 5

I'd consult Fidelity and get a couple of good funds to diversify your investments. This is a great time to invest, the market is down so much and you have plenty of time (years)  to see it recover and make lots of money for you. You could invest in a mix of foreign as well as domestic investments.  Fidelity.com

Answer 6

invest in solar/hydrogen energy.  

Answer 7

CD'S only give you 1% return and are only good if you're investing for a few months. Long term, I'd suggest the maximum allowance in a Roth IRA (5K per year), the max in a regular IRA and put the rest in some decent mutual funds (technology and health are good). Talk to a good broker. See your bank. They usually hire reputable ones. If you want to consult an independent brokerage, go with Smith Barney or Prudential. Good luck!

Answer 8

I will strongly advise you to invest in what you already know or you should study about the stock market well and invest that money when then share prices are depreciating or invest in blue chips stocks that will give you huge returns on investment.

Answer 9

Pay all your bills and stuff and

put the rest away for when you need it

The economy sucks.your gonna need it if it doesnt get better.

Answer 10

Nice vacation, here you come.

Thanks grandma.