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Started by chela1, December 06, 2018, 05:47:56 AM
Quote from: chela1 on December 06, 2018, 05:47:56 AMSo, according to my financial advisor, I am financially secure - my future is set. But I just receive a windfall of $900,000 and I am not sure what to do with it. Yes, I know I can donate to charity, set up my children etc. but where should I invest or what should I do with the bulk of the money? Any advise will be appreciated.
Quote from: Cheezus on December 10, 2018, 05:48:15 PMThe returns of investing the funds in stocks instead of muni's could be substantial and also hedges against inflation.
Quote from: AdamJane on December 10, 2018, 08:54:30 PMQuote from: Cheezus on December 10, 2018, 05:48:15 PMThe returns of investing the funds in stocks instead of muni's could be substantial and also hedges against inflation.This is true over time but it depends on chela1's risk level. At age 69, does he have enough time to recover if his stock portfolio takes a hit? He also has 4 dependents and does he want to take the risk with stocks?Since we are ultra financially conservative, I would preserve principle at his age. To my younger family members that are many decades from retirement, I recommended investing in the Vanguard S&P 500 fund and just let it grow. I lost money during the dot.com days and I no longer invest in the stock market. Our munis, pensions and 401K interest generate passive income over 3x current expenses. We are age 54 and 53 and At this stage of our lives, we don't need to take any risks. My wife is already retired and I will retire at 55.Adam