Lux Investing
Coming into some money and want to invest, plan, gain income.?
We experienced an insurance loss and are coming into around 100K. We own a property on the waterfront as well, (just land) 100-150k aprox worth in middle market. I don't just want to burn through this money. I would like to invest it into stocks that pay enough dividends to live on, if that is possible. I'm only 33, I do not want to own another home. I am happy renting an apartment or living on my boat. We don't have kids and do not plan to ever venture in that direction. I researched some financial planners but they seem like a party for old folks with great wealth and I just have this measly 100k. What should I do? How can I turn this into income?
Public Comments
- You look cute in your tiny little picture so my advice is simple... Use that 100k to purchase some fake boobs, fix up any minor facial flaws you may have, etc. (basically make yourself look real hot). Then become a stripper or do porn. Shoooot youll be rich in no time and be able to retire by 35! You may be a little looser downstairs but hey whatever ur hubby can use the back door right?!?!?!?
- I deffenitly want to invest in an IRA. If you can lock it the good interests rates they will double about every 7 years. So if you put 5k in it, in seven years it would be 10k and in 14 years it would be 20k. But make sure you get a good interest rate. If you remember 7/7 you will be best of. That is ever 7 years it is doubled. Good luck. And the best thing about IRA's is that you will not be able to touch it with out paying a penalty till you are about 60ish.
- At 33, you will not be able to make enough income off of 100K to support yourself. Even if you got a return of 10 - 12% annually, that's only $10,000 - $12,000 a year. You have to ask yourself if you want to use this money in the long-term, or just make money in the short-term and spend it. Personally, 100K is a nice nest egg to start saving for a retirement, and that is what I would do. I would put it in an online brokerage account, buy some no load mutual funds that are geared more to the aggressive side, and then basically forget about it - except when you want to add to it. If you run into a situation where you need the money, it is fairly easy to liquidate and get your money quickly. Most planners will try to get you to buy products that are going to make them money. I'd do a little research into being able to do this yourself - its not too hard. Good luck.
- You have a large sum of money, but i would recommend investing it conservatively and let it grow some more. You should maybe look to add to it in the next 10 - 15 years, and then truly retire wealthy. Your first option, should be to open a retirement account. This is always a good investment, regardless of who you are. If you have fully funded your retirement account and would like other options, you should consider a DRIP Plan. They are seldom recommended by brokers due to the low rate of commissions received. However, these reinvestment plans can be very powerful long-term investments. Studies have shown that DRIP's are one of the best strategies on Wall Street. They are inexpensive and easy to start. New investors to the stock market should definitely consider a DRIP Plan. Companies like Toyota, Royal Canadian Bank, Sony, Bank of America, General Electric and many other Blue Chip Stocks can be purchased through your DRIP Plan, with as little as 1 share in most cases. These long-term plans are great for beginners as well as veterans. Check them out. Best of Luck
- i have 2 options for u, i'm a financial advisor i'm not old, only 26, one would be a reit (real estate investment trust that earns u 15-20% per year so 15-20k on your investment. 2. would be to invest in one of our land deals that typically double every 3 years, the only catch here is no dividends for 5 years, but your 100k would be worth 300-400k cityaaron@yahoo.com
