- Thread starter Joaquin
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demien3k5
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It's not that large a sum. Put it away for retirement in a low risk, low yield banking investment.
The value of $150K will be much higher to you once your income stream slows/stops in retirement, or even, say, to your children or grandchildren once you pass and they come of reasonable age.
You could even invest it in a life insurance policy that would really protect your loved ones once you're gone, assuming you're not personally greedy and want the money for yourself now.
You probably don't have enough years ahead of you to make much of a significant gain without entertaining high risk of loss, so what's the point. 'A bird in the hand' as they say...
The value of $150K will be much higher to you once your income stream slows/stops in retirement, or even, say, to your children or grandchildren once you pass and they come of reasonable age.
You could even invest it in a life insurance policy that would really protect your loved ones once you're gone, assuming you're not personally greedy and want the money for yourself now.
You probably don't have enough years ahead of you to make much of a significant gain without entertaining high risk of loss, so what's the point. 'A bird in the hand' as they say...
demien3k5
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Joaquin said:
There may be, particularly in the volatile mutual funds world, but it comes with a very high risk of loss. If this is a lot of money to you, that should tell you you should be very risk averse when investing as it would likely be very hard for you to replace this sum should you take a significant, unexpected loss. I'm not trying to be condescending or obnoxious (really) - where investments are concerned, generally speaking, this is not a large sum.
If you want immediate gratification for the spend, maybe consider purchasing a summer house you can enjoy for a few years yourself before selling it for a modest profit (hopefully) as a small retirement nest egg with low tax implications. Other real estate like rental property isn't a great idea at this price point as it won't likely yield much profit on back side and will incur lots of other undesirable headaches.
I seriously think an insurance policy might be the best investment you make for yourself and your family with this sum in terms of overall value.
I inherited about 100 grand when my parents passed away... I invested primarily in a house that has since then doubled in value both in terms of 40K added to our downpayment to buy the house and 30k on upgrades to the house (new furnace, new flooring, etc.), about 7k on furniture and stuff for the house (investment I my own comfort), put 5k into RESPs, 5k into RSPs, 5k into a tax free saving account, and the rest was spent on travel and irrelevant stuff.
DannyDevito
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Start a new agency.
Lots of options depending on your situation. Had a similar situation when my dad died, with the money left over after some was given to immediate family, take a small percentage for yourself to do with as you want be it escorts, a trip etc.
I would suggest topping up RRSP and possibly TFSA. If you have any outstanding debts such as a mortgage, etc use the money to pay down that debt. Any left over money after that invest it wisely for long term growth.
If you want something that gets you 20% growth don't invest all that's left but just a small portion of it. High rates of return can as just as easily lose as much if not more. Been there done that on both ends of investing so I was happy it was a small investment especially when it lost money.
Depending on your comfort for investing if you're good at it you know what to do but if you're not then talk with a financial advisor you trust. And if this is the route you chose, talk to more then one. Like anything else some are better than others and you have to find someone you will be comfortable dealing with and not just someone who promises you what you want to hear. I would avoid banks since their options are limited and only what's provided by their institution. That alone I find very limiting even if they have some good choices.
Besides giving some to immediate family, I paid off my mortgage, made some upgrades to the house, upgraded my vehicle, kept a very small percentage for play time and invested the rest primarily in stocks of established companies.
LTO_3
I would suggest topping up RRSP and possibly TFSA. If you have any outstanding debts such as a mortgage, etc use the money to pay down that debt. Any left over money after that invest it wisely for long term growth.
If you want something that gets you 20% growth don't invest all that's left but just a small portion of it. High rates of return can as just as easily lose as much if not more. Been there done that on both ends of investing so I was happy it was a small investment especially when it lost money.
Depending on your comfort for investing if you're good at it you know what to do but if you're not then talk with a financial advisor you trust. And if this is the route you chose, talk to more then one. Like anything else some are better than others and you have to find someone you will be comfortable dealing with and not just someone who promises you what you want to hear. I would avoid banks since their options are limited and only what's provided by their institution. That alone I find very limiting even if they have some good choices.
Besides giving some to immediate family, I paid off my mortgage, made some upgrades to the house, upgraded my vehicle, kept a very small percentage for play time and invested the rest primarily in stocks of established companies.
LTO_3
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