All I can say is be slow, careful, and methodical. At 18 I inherited roughly $100K. In just over three years all the money was gone. Also, I got used to my over inflated lifestyle so I struggled to cutback on expenses and graduated my 4 year college degree with $35K in debt. $25K in student loans and $10K in credit card debt. I learned my lesson but still missed out on a great opportunity to grow my wealth. Now at 25, I am taking steps to recover and am saving for my future.
I want to invest $400k in profit-yielding dividend shares but am not sure which to buy into because dividend-paying stocks don't give rapid price growth and can provide a steady income stream.
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I wouldn’t spend anything that isn’t base level income unless I needed it to get rid of high interest debt. It’s not enough to change your life otherwise. It is enough to get yourself into trouble. Invest a sum like that and pretend it doesn’t exist.
Yeah, I put 40% down on my current condo, just so I would get a cheap monthly downpayment. I know it's not the most optimal thing to do, but I'm self-conscious over the fact that I'm pretty much at peak income for my profession, and anything I do from here to retirement is probably going to be downhill. ...and there's a good chance I'll be retiring early, so I wanted to have a monthly payment that, worse comes to worst, I could have in retirement and not be unduly burdened by it. (Also, in that scenario, it's a variation of "paying your mortgage off early").
I know this isn’t financial but you I think it would be a good episode it for you and Bo to talk about the late and great Jim Rohn. I’ve learned a lot just from listening to his old videos
I'm not sure what his salary is but if he added this to his retirement account he would have 200k total for retirement. If it grows at 8% for 30 years he'll have over $2mil. Depending on his goals, this lump sum could mean he doesnt have to save for retirement anymore.
1. Fund 3-6months for emergency fund in high yield savings 2. Dump 20% in a S&P 500 index fund 3. Pay down any bills minus mortgage 4. Down payment on house 5. Enjoy the rest
What 3rd world country do you think he lives in? The median home price in the US is almost $500k, and that’s not in HCOL areas. 20% downpayment on a home is 100% of his inheritance. You expect him to put money in a bank, invest it, put a down payment on a home AND have a remainder to play with? Boomer shrooms. Love, Gen X
This one's easy, inheritance almost always goes right into taxable investment accounts, preferably in it's own account separate forever. You want to build a down payment post marriage, you have a responsibility to keep inheritance protected from divorce.
I inherited about 200 K, which is still less than an investment firm will handle, so I put several thousand into a Fidelity S&P fund, and the rest I’m going to move to a high yield savings account.
I think Bo's question at 0:48 needs more awareness, even in the context of the FOO. I have rarely been in the position to max out retirement accounts and, for what I want, I wish I had done essentially a 50/50 split between retirement and taxable brokerage accounts. I think 25%+ savings rate and getting that employer match are both key, along with managing your debt. After that, look at what you want and allocate your funds accordingly. Love it
Put in stock market (20%) 100k Save (10%) for emergency 50k Down payment on home ~100k Get college or start a fund ~50k Pay off all debt but home (5%) Take vacation, have lil fun (5%) 50k setup in a trust for legal/tax Use ~100k capital start business
Even the decision to put $100K down on a house depends highly on the real estate market. Right now? NOOOO... They are way overpriced and interest rates are crazy high. At a time when houses are being almost given away and it's easy to pay for them? Heck yeah.
All I can say is be slow, careful, and methodical. At 18 I inherited roughly $100K. In just over three years all the money was gone. Also, I got used to my over inflated lifestyle so I struggled to cutback on expenses and graduated my 4 year college degree with $35K in debt. $25K in student loans and $10K in credit card debt. I learned my lesson but still missed out on a great opportunity to grow my wealth. Now at 25, I am taking steps to recover and am saving for my future.
I want to invest $400k in profit-yielding dividend shares but am not sure which to buy into because dividend-paying stocks don't give rapid price growth and can provide a steady income stream.
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I wouldn’t spend anything that isn’t base level income unless I needed it to get rid of high interest debt. It’s not enough to change your life otherwise. It is enough to get yourself into trouble. Invest a sum like that and pretend it doesn’t exist.
Down payment on maybe a 200-300k house makes a lot of sense. Would make it an incredibly cheap housing cost.
Yeah, I put 40% down on my current condo, just so I would get a cheap monthly downpayment. I know it's not the most optimal thing to do, but I'm self-conscious over the fact that I'm pretty much at peak income for my profession, and anything I do from here to retirement is probably going to be downhill.
...and there's a good chance I'll be retiring early, so I wanted to have a monthly payment that, worse comes to worst, I could have in retirement and not be unduly burdened by it. (Also, in that scenario, it's a variation of "paying your mortgage off early").
I know this isn’t financial but you I think it would be a good episode it for you and Bo to talk about the late and great Jim Rohn. I’ve learned a lot just from listening to his old videos
I'm not sure what his salary is but if he added this to his retirement account he would have 200k total for retirement. If it grows at 8% for 30 years he'll have over $2mil. Depending on his goals, this lump sum could mean he doesnt have to save for retirement anymore.
Can't add that much to a tax sheltered account in a single year, would quite a few, but I see your point
1. Fund 3-6months for emergency fund in high yield savings
2. Dump 20% in a S&P 500 index fund
3. Pay down any bills minus mortgage
4. Down payment on house
5. Enjoy the rest
What 3rd world country do you think he lives in? The median home price in the US is almost $500k, and that’s not in HCOL areas. 20% downpayment on a home is 100% of his inheritance. You expect him to put money in a bank, invest it, put a down payment on a home AND have a remainder to play with? Boomer shrooms.
Love,
Gen X
This one's easy, inheritance almost always goes right into taxable investment accounts, preferably in it's own account separate forever.
You want to build a down payment post marriage, you have a responsibility to keep inheritance protected from divorce.
I inherited about 200 K, which is still less than an investment firm will handle, so I put several thousand into a Fidelity S&P fund, and the rest I’m going to move to a high yield savings account.
Go to the casino and put it all on red baby.
No, put it on black!
I think Bo's question at 0:48 needs more awareness, even in the context of the FOO. I have rarely been in the position to max out retirement accounts and, for what I want, I wish I had done essentially a 50/50 split between retirement and taxable brokerage accounts. I think 25%+ savings rate and getting that employer match are both key, along with managing your debt. After that, look at what you want and allocate your funds accordingly. Love it
I've always believed in 'never spend a windfall. '
Put in stock market (20%) 100k
Save (10%) for emergency 50k
Down payment on home ~100k
Get college or start a fund ~50k
Pay off all debt but home (5%)
Take vacation, have lil fun (5%)
50k setup in a trust for legal/tax
Use ~100k capital start business
Must be nice to inherit money or property from family. Be smart with it.
Hey money guys. How do I get a question up to be asked?
During the live stream, you can ask questions in the chat. The producers read through the questions and select some for the q&a segment.
Roll Tide !!
Even the decision to put $100K down on a house depends highly on the real estate market. Right now? NOOOO... They are way overpriced and interest rates are crazy high. At a time when houses are being almost given away and it's easy to pay for them? Heck yeah.
Buy a house if you dont own. The rest in the s&p 500
Down payment on a house
Spend it on Apex Legends
Honestly I wouldn’t buy a gram of gold off these guys. Sleezy sales man vibe
Invest 90% and get an FHA loan
Don't forget that uncle Sam will steal a big chunk of that in taxes
Not on an inheritance.
Zero in taxes
Buy Bitcoin!!!!
Yeah… no…
Lol
Be gone scammer
Not so smart. Only play the money you are willing to lose.
pez dispensers :)
100k is less than a Money Guy side hustle, he should just wipe his ass with it. Completely worthless
30 years in an index averaging 10% and he’ll have an extra $1.74 million. That’s some pretty nice toilet paper 😂