Where should I put 50,000 dollars

[SirNumbers]

Okay so I have recently inherited a decent sum of money and would love to let it grow, Im only 17 so its not like i'm retiring anytime so I on a scale of 1-5 

 

1 Being low risk

 

5 being high rish

 

Im willing to put the money in a 3.5 risk place

 

I was thinking the SP500, and Dow Jones Diversified

 

 

Ill take all your advice with a grain of salt but id love to know your ideas

[don_svetlio]

put it in a bank and live off of it for a few years

[thekeemo]

Normal bank account

very low risk

but only ~3% growth

the interest would allow you to build a new high end gaming rig every year (please dont do that though)

[NinjaJc01]

Invest in oil or gold maybe?

[Jobbe03]

Meet up with an actual expert.

 

put 90% in a long term investment and 10% in whatever you want. (I'd recommend 8% in a risky investment and then the rest for shits and giggles) Again. Please meet up with a person who get's paid to decide things like this. 

 

Oh and please realize, that in the long term 50k is basically nothing. You're not rich, you're not set for a certain amount of time. You just have a slight amount of money right now. 

[SirNumbers]

put it in a bank and live off of it for a few years

No, Im living just fine

 

Invest in oil or gold maybe?

Commodities suck

 

Normal bank account

very low risk

but only ~3% growth

In America atm the highest is ally with a 1.05%

 

Id prefer the 12% avg of the SP500 but im not even sure about that

[thekeemo]

No, Im living just fine

 

Commodities suck

 

In America atm the highest is ally with a 1.05%

Still $500+ a year is not bad

[SirNumbers]

Still $500+ a year is not bad

True true, Maybe ill split it into no risk and risk thats probably a better idea

[teeejay]

I'd personally seek out some financial advisor. Have a chat with him about all the possibilities of investment. It's a decent sum of money, don't waste it on stupid things.

 

Talk about it with your legal guardian.

[BuckGup]

First thing I would do is post how much money I am getting to the whole internet. Then invest in AMD 

[thatguyyouknow75]

Open a roth ira, you can put in 5500 a year until i think age 25, but put money in every year and the interest you make is not taxable. youll have a great lump sum to retire on. The rest keep in a savings account with a local bank, its important to keep a nest egg

[SirNumbers]

I'd personally seek out some financial advisor. Have a chat with him about all the possibilities of investment. It's a decent sum of money, don't waste it on stupid things.

 

Talk about it with your legal guardian.

I wasn't planning on spending any of it and yes I will soon

 

as for my parents there the ones who gave it too me ans asked to see it grow

[SeriouslyMikey]

I hear the cocaine industry is always growing. 

[SirNumbers]

Open a roth ira, you can put in 5500 a year until i think age 25, but put money in every year and the interest you make is not taxable. youll have a great lump sum to retire on. The rest keep in a savings account with a local bank, its important to keep a nest egg

I have my retirement planning set, I was hoping to start a investing tree, day trading maybe if i understand enough

[SirNumbers]

First thing I would do is post how much money I am getting to the whole internet. Then invest in AMD 

50,000 into AMD, done.

[Clear17Mud]

put it into mutual funds that are specified into genetics or medical stuff, and technology, because thats what is growing... Also buying bonds are good, but more so if your retired.

[dalekphalm]

True true, Maybe ill split it into no risk and risk thats probably a better idea

The best course of action is to split it up.

 

Take your money and put it into different categories:

1. High Risk - High Return

2. Medium Risk

3. Low Risk

 

I would do a split like this:

1. 10%

2. 40%

3. 50%

 

But you can adjust the split as you like.

 

Diversify. Don't put it all into the same fund.

 

Also, going to a fund manager or an accountant/investment expert would be a good idea. Even just to get ideas of which funds/stocks are interesting to you. Go to your local bank to start, they will have experts there that you can speak to for free for a basic consultation. If you happen to know any experts, speak to them - or ask your family, some of them might already have investments being managed.

[BuckGup]

50,000 into AMD, done.

Well if you look at it they are at a low point and if say ZEN or greenland are actually good you could get some cash also considering how they are better at native async and DX12

[SirNumbers]

Well if you look at it they are at a low point and if say ZEN or greenland are actually good you could get some cash also considering how they are better at native async and DX12

Im not rich enough to throw 50,000 into 1 company

[SirNumbers]

The best course of action is to split it up.

 

Take your money and put it into different categories:

1. High Risk - High Return

2. Medium Risk

3. Low Risk

 

I would do a split like this:

1. 10%

2. 40%

3. 50%

 

But you can adjust the split as you like.

 

Diversify. Don't put it all into the same fund.

 

Also, going to a fund manager or an accountant/investment expert would be a good idea. Even just to get ideas of which funds/stocks are interesting to you. Go to your local bank to start, they will have experts there that you can speak to for free for a basic consultation. If you happen to know any experts, speak to them - or ask your family, some of them might already have investments being managed.

I really like that split, thank you

[thatguyyouknow75]

I have my retirement planning set, I was hoping to start a investing tree, day trading maybe if i understand enough

but anything you make in interest is taxed. with a roth ira uncle sam cant take any of the profit. even if you dont use it for the full 50-60 years youll still generate a lot of interest in just 10-20

[SirNumbers]

but anything you make in interest is taxed. with a roth ira uncle sam cant take any of the profit. even if you dont use it for the full 50-60 years youll still generate a lot of interest in just 10-20

I still I have to pay the tax when I take it out, also can I have a second IRA I have a custodial already?

[Clear17Mud]

I still I have to pay the tax when I take it out, also can I have a second IRA I have a custodial already?

no roth iras you pay tax to put money into it not to take it out.

you just cant take it out till you retire without paying a fine

[thatguyyouknow75]

with a roth ira there is no tax when you take it out! tax free interest! thats what im trying to say thats why i have 2 set up. 

[thatguyyouknow75]

no roth iras you pay tax to put money into it not to take it out.

you just cant take it out till you retire without paying a fine

they havent taxed me on anything ive put in (roughly 11 grand)