Advice

I just inherited about $50,000 from my uncle. I was wondering what
kind of fund I should put it in.

Re: Advice

wrote:
> I just inherited about $50,000 from my uncle. I was wondering what
> kind of fund I should put it in.

I don't think anyone can give you any kind of good advice without
knowing a lot more about you. Risk tolerence, age, current financial
status, family status, etc. etc.

Re: Advice

wrote:

> I just inherited about $50,000 from my uncle. I was wondering what
> kind of fund I should put it in.

What are your plans for the money?


--
Steven D. Litvintchouk
Email:

Remove the NOSPAM before replying to me.

Re: Advice

<> wrote in message
news:
>I just inherited about $50,000 from my uncle. I was wondering what
> kind of fund I should put it in.

Put it in a nice safe CD or money market fund at your local bank and leave
it there for a few months until you learn more doing what you are doing
right now, that is, asking questions in newsgroups like this one, reading
articles and books, etc. Run away fast from anyone who recommends a
particular mutual fund or particular investment of any type you know nothing
about.

Re: Advice

In article <A7nre.60954$> wrote:
><> wrote in message
>news:
>>I just inherited about $50,000 from my uncle. I was wondering what
>> kind of fund I should put it in.
>
>Put it in a nice safe CD or money market fund at your local bank and leave
>it there for a few months until you learn more doing what you are doing
>right now, that is, asking questions in newsgroups like this one, reading
>articles and books, etc. Run away fast from anyone who recommends a
>particular mutual fund or particular investment of any type you know nothing
>about.
>
>


That's the best advice! A CD is FDIC insured, so you know you won't lose
the money. There's no real hurry. If you spend six months studying your
options, that's all right.


--
"Awareness means not just a vague, comfortable, fuzzy feeling. It means
explicit knowledge of current conditions." -- NBSR Radiation Safety
Training

Re: Advice

"Gregory L. Hansen" <> wrote in message
news:d8la21$9sr$

> That's the best advice! A CD is FDIC insured, so you know you won't lose
> the money. There's no real hurry. If you spend six months studying your
> options, that's all right.

And having it locked into a six month or so CD with a pre-payment penalty
might be a plus, since there would be less temptation to hastily put it into
a questionable investment. Actually, I would go further and advise putting
only half of it into a good mutual fund after six months and keeping the
other half in another CD for a year until you have learned more.

Re: Advice

Gregory L. Hansen wrote:

> In article <A7nre.60954$> wrote:
> ><> wrote in message

> >news:

> >>I just inherited about $50,000 from my uncle. I was wondering
> >>what kind of fund I should put it in.
> >
> >Put it in a nice safe CD or money market fund at your local
> >bank and leave it there for a few months until you learn
> >more doing what you are doing right now, that is, asking
> >questions in newsgroups like this one, reading articles and
> >books, etc. Run away fast from anyone who recommends a
> >particular mutual fund or particular investment of any type
> >you know nothing about.
>
> That's the best advice! A CD is FDIC insured, so you know
> you won't lose the money. There's no real hurry. If you
> spend six months studying your options, that's all right.

A money market mutual _fund_ from a bank??? That means talking to a
commissioned sales person who will weave all kinds of BS to get the
person to fork over about $1,500 of that $30,000. OTOH banks offer
money market _bank_accounts_ that should be OK, but the interest they
pay varies from about 0.5% to roughly 3%. Their only relationship to
money market mutual funds is in name.

See www.money-rates.com and www.bankrate.com to find highest-paying
bank accounts across the nation. www.moneybb.com is good for finding
sign-up bonuses, usually $20-$50. I've been using www.ingdirect.com
for over a year, and they currently pay about 3.25% APY on savings
(minimum needed to open: one-cent, not $1 as some say) and may have
sign-up bonus.

Re: Advice

"larry moe 'n curly" <> wrote in message
news:
>
> A money market mutual _fund_ from a bank??? That means talking
> to a commissioned sales person who will weave all kinds of BS to get
> the person to fork over about $1,500 of that $30,000. OTOH banks
> offer money market _bank_accounts_ that should be OK, but the
> interest they pay varies from about 0.5% to roughly 3%. Their only
> relationship to money market mutual funds is in name.

It depends. HSBC offers MMFs through the bank (not a separate brokerage
arm) - they are explicitly marked as not FDIC-insured (while the bank
accounts are covered by the FDIC). You won't find them offered or even
described on the web, however (so you'll have to trust me on this one :-)

In general you are right, that when banks talk about money markets, they are
talking about MMAs, but that's not always the case.

> See www.money-rates.com and www.bankrate.com to find highest-
> paying bank accounts across the nation. www.moneybb.com is good
> for finding sign-up bonuses, usually $20-$50.

Also see for highest-paying
MMFs. Right now they are still lower than the highest MMA accounts.
--
Mark Freeland

Re: Advice

Don wrote:
> <> wrote in message
> news:
>
>>I just inherited about $50,000 from my uncle. I was wondering what
>>kind of fund I should put it in.
>
>
> Put it in a nice safe CD or money market fund at your local bank and leave
> it there for a few months until you learn more doing what you are doing
> right now, that is, asking questions in newsgroups like this one, reading
> articles and books, etc.

Depending on his situation (especially debt service), your advice might
not be right either.

For example, if the person told us that he had been carrying hefty
credit card balances, I would tell him to pay those off immediately with
part of this $50,000. No one should be carrying debt at double-digit
interest rates for any length of time.



--
Steven D. Litvintchouk
Email:

Remove the NOSPAM before replying to me.

Re: Advice

"Steven L." <> wrote in message
news:tfIse.5997$

> Depending on his situation (especially debt service), your advice might
> not be right either.
>
> For example, if the person told us that he had been carrying hefty credit
> card balances, I would tell him to pay those off immediately with part of
> this $50,000. No one should be carrying debt at double-digit interest
> rates for any length of time.

Yes, for sure. What's more, if that were true, and if the person had sought
advice earlier, some very good advice would be to spend less, save more, and
avoid hefty credit card balances at all costs.