investing tips anyone?
 

yeah, so anyways, family just fell into a GOOD bit of money. Just sold half of our old farm for 804k. 4 kids means the money to my family gets split to 201k.

My parents have been farmers most of their lives and are now truck drivers. We have lived paycheck to paycheck and now finally have a lil bit of luck. Now my parents want to invest the money. Theyve always wanted to invest, but have never had any money left over to do ANYTHING with. being poor ftl. They have to pay off around 15 thousand for my dad's transmission in his truck(went out after over a million miles), and the rest is being invested.

They are still looking to work full time and dont need the bulk of the money, but are just looking to supplement their income. Weve looked at CDs and during the process of selling the farm I have been reading up on low risk mutual funds and the like.

Anyone here invest? had any success with it? I know its a car site, but i figured Doc or JD or someone on here would be able to school my noobish ass and point me in the right direction. thanks guys

Re: investing tips anyone?
 

http://www.made-in-china.com/showroo...catalog-1.html :S

Re: investing tips anyone?
 

shop around and look into what banks have the highest pay out interst rate. some places provide decent rates and you can make good money when you invest a large amount like that. especially when ur not even gonna touch it and jus let it accumulate. b4 u know it, you'll be able to pull ur 200k back and jus let the freemoney that was generated stay in there and make ur money now. what ever route you go, let me know. i wanna invest too.

Re: investing tips anyone?
 

Invest in nano tech, wave of the future :y

Re: investing tips anyone?
 

I want to say one word to you. Just one word.

Plastics.

Re: investing tips anyone?
 

i think id just pick a good cd and stick it in there, at least for a while until you decide what you want to do with it. with that much $$$, even a shitty rate will still pay you well

Re: investing tips anyone?
 

+1 on that.
cd's are ok these days, a five year is paying that same as a 1 year. so at 5% you get $10k. thats not bad.
longer term is gonna be safer bet, rather than trying to make a quik buck.
lakefront property in always a good investment too, in the long run.
ours went from $150,000 to $400,000 in 12years. although ours had a house on there too, and a bunch of rich ass chicago mother fuckers started to build mansions all around our lake. that didn't hurt the value.

Re: investing tips anyone?
 

Property is a great long term investment. Find some in a growing area. The two acres beside us were 15k 10 years ago, now they are going for 30k+ for 1/4 acre.

Re: investing tips anyone?
 

your best bet is to buy house's remodel them and get your turn, thats what my dad does and he lives in 350,000 dollar house has a new truck, new caddy, a million tools/ saws, just start out with something in the 60k range and try to put a turn on it and then if you got they hang of it start doing bigger deals

Re: investing tips anyone?
 

That's what me and Jorsher are about to start doing when our lease runs out. Start low and just progress. Would be nice to be able to quit our jobs after a year or so and do this full time.

Re: investing tips anyone?
 

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.

Re: investing tips anyone?
 

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%

Re: investing tips anyone?
 

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

Re: investing tips anyone?
 

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 nigga up with a interest free loan.... O0

Re: investing tips anyone?
 

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 ass. 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.

Re: investing tips anyone?
 

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.

Re: investing tips anyone?
 

BOOYAAA!! ;D


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.