Best way to invest $40,000??

[everman]

Talk to a financial advisor, your bank may even offer that for free (to some extent) inside a branch. $30 - $40k is a good chunk of change so I think that is definitly worth getting some good advice on. (this is not a great place 😛 )
You need to take into account things like debt, income, budget, etc...

 

[DaveSimmons]

$10K to ING or ED, $30K to vanguard.com and get VFINX.

If you have $3K+ of earned income for 2004, set up _2_ accounts at Vanguard, a Roth IRA for $3K and a regular unsheltered brokerage account for the rest. If you know you'll have enough earned income for 2005 you can put in up to $4K more into the Roth for 2005.

 

[FlyLice]

Originally posted by: everman
Talk to a financial advisor, your bank may even offer that for free (to some extent) inside a branch. $30 - $40k is a good chunk of change so I think that is definitly worth getting some good advice on. (this is not a great place 😛 )
You need to take into account things like debt, income, budget, etc...

DO NOT TALK TO A FINANCIAL ADVISOR. THEY WILL CHARGE YOU 2% MANAGEMENT FEE AND PUSH THEIR OWN MUTUAL FUNDS TO MAKE COMMISSIONS. DON'T DO IT!

 

[Hossenfeffer]

Originally posted by: ScottFern
Well, I found a savings account program from Emigrant Direct, which IS FDIC insured, however the interest rate is 3.25% APY. I just wanted to make sure before I dump alot of money in there that there isn't a better place to invest my money??


Suggestions welcome.

You could loan me $10,000 at 6%. 🙂 Heck, even $5,000.

 

[everman]

Originally posted by: FlyLice

Originally posted by: everman
Talk to a financial advisor, your bank may even offer that for free (to some extent) inside a branch. $30 - $40k is a good chunk of change so I think that is definitly worth getting some good advice on. (this is not a great place 😛 )
You need to take into account things like debt, income, budget, etc...

DO NOT TALK TO A FINANCIAL ADVISOR. THEY WILL CHARGE YOU 2% MANAGEMENT FEE AND PUSH THEIR OWN MUTUAL FUNDS TO MAKE COMMISSIONS. DON'T DO IT!

That is somewhat of a generalization 😉 There are good and bad ones just like anything else.

 

[Fritzo]

ROTH IRA if you don't need the money available.

 

[TerryMathews]

Wait for the per barrel price of oil to go down a bit, and buy all the oil futures you can afford.

Probably the only commodity on the planet that you can assure yourself is going up in price.