ifly87

You could almolst live off the interest on 800k, property is always a good investment, we bought 1 acre for 32k in a fast growing community near appleton WI 9 years ago, people said we were retarted, its now appraised at 175k without the business we have on it. Banks are crooks and I would be VERY carefull in stocks or mutual funds.

BirdmanMD

my father built our entire house from scratch and is amazing at it. He really wants to get into "flipping" houses. It would be easy in my family. My uncle owns a heating and air business, my other uncle is a contractor/foreman, my cousin owns a plumbing company and my other cousin is an electrician. They all live in WV and there is some CHEAP property up there. My uncle has the biggest heating and air business in the state.

we only got 201k. This was on the shitty party of the farm, with only 6 building plots. We still have another half that keeps falling through on contract, which should bring about 400-500k per kid. but god knows when that will sell.

we were looking at cds. The best 5 year we found is 9%. 18k a year isn't bad but we dont want the 5 year commitment. but the best 1 year we found was like 5.53%

1991civicsi

Im in NYC, so my $ is in real estate.

theebluecrx

Just live on the interest and get a good accountant so the irs doesnt have your money in a few years.Open a gas station they are gold mines.Oh and hook a ***** up with a interest free loan....

Dweezil

Research is your best friend. Mutual funds are quite safe over the long haul, just lookout for management fees and the like. There perfect if you don't have the time to keep up on the market itself. Cash like savings accounts or CD's are alright right now, but those rates are most likely comeing down after the May Fed meeting, and bonds are in the same boat. Bonds are another safe option, but the return sucks ***. If your parents are just looking for something supplimental and to keep some cash for emergencies here's what I'd do:

Put 50-100K into a high yeild savings, any interest that it accrues I'd put into an IRA. For this year, and from now on max out your IRA contribution, there's no reason not to. Take the rest and put it in mutual funds, make sure the funds are diversified and don't put it all in 1 or 2 funds. Take the funds goals into consideration when chooseing.

Finally read, a lot. Start at TheStreet.com, Yahoo Financials is helpful, CNNMoney has some good articles, but never stop doing your homework.

yayopwrcrx

this is probably true, but who wants to live?

Get in contact with real estate developers. They're ALWAYS looking for private money. The return will be a lot better than anything a bank will give you.

To make a million dollars is work. To make a million into two is a walk in the park.

MikeJ-2009

BOOYAAA!!


The first thing I would do is LEARN THE TAX LAW, IN AND OUT. There are plenty of legal tax laws that could get you out of paying a whole lot of taxes on whatever you do. Flipping houses is something I want to do once I have the funds, but they can be risky if you don't buy the right ones. The good thing about having stacks of money (enough to buy a foreclosure by yourself) is that alot of investors (house flippers) will need you to buy the foreclosure they're looking to flip. They guarantee you a certain return, and you don't have to touch anything. You're just the money.
If the whole family is in construction, you may or may not make more money than just being "the investors bank". Having all that family around is sure to get some greed flying around, and I would probably do it on my own, or just be the bank for other investors. 1031 exchange is your friend.