Investing After My Lawsuit - Really Lost!!!!

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Topic Author
vampstko
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Investing After My Lawsuit - Really Lost!!!!

Post by vampstko »

HI ALL!!
i have been reading this board for the past few weeks and am new to investing, stocks etc.. I am getting ready to close a slip and fall lawsuit that will put a small amount of cash in hand..basically $30k-$40k...I may never get a chance at something like this and being almost 40 years old i need to think of the golden years.. I have heard adviec from the inlaws, the parents, friends etc..but i sit back and think...they are all broke too LOL..

I have looked into tax liens real estate for possible rental property which is something a friend of mine is doing and they are doing fair with it..i have been looking at gold and silver, investing in mining companies...I'll be honest i went to art school and have been doing web design for years getting by.. my wife thinks we should open a business *(she's a cook) i think real estate stocks and precious metals.. my dad keeps pushing for stocks my father in law for mining companies and gold, by other inlaw real estate..ARGHHHHHHHHHH

all i want to do is try to do what i can with a small amount of money..i was thinking 10-15 to start with and be able to provide for my kids (3 girls) and me and my wife...i don't expect the hand of god to come down and tell me whats best...maybe just a direction to go in...


i would greatly appreciate any advice
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ruralavalon
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by ruralavalon »

Welcome to the forum :) .

Beware of anyone trying to sell you anything, take your time, learn a bit, and then invest in a simple plan using broadly diversified low cost mutual funds.

1. Read one or two books from the general investing section of this reading list -- http://www.bogleheads.org/readbooks.htm .

2. take a look at this forum's wiki, such as --
Wiki article link: Getting Started (check out the videos),
Wiki article link: Lazy Portfolios .

3. Open an IRA or other account at Vanguard https://personal.vanguard.com/us/whatwe ... e/overview , and do something simple using broadly diversified low expense mutual funds like total market funds.

4. If you want, post your financial details in this format -- http://www.bogleheads.org/forum/viewtopic.php?t=6212 -- for some specific suggestions.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
pkcrafter
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by pkcrafter »

Sorry about your injury, but you now need to turn it into a plus by investing it for your future. It's not clear, but do you now have any money invested for retirement? If not, you are making some major mistakes.
First thing is to stay clear of advice you are getting from your family members. Here's where you start on getting control of your finances:

http://www.bogleheads.org/wiki/Getting_Started

Once you read that, we can help you develop a simple strategy to invest the money long term.

Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.
Topic Author
vampstko
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by vampstko »

i have nothing invested right now...i get the check end of the month..
working in webdesign i have been able to keep our heads above water but not get over that hump...and i have very little to none investment knowledge

i will definatly check out the links bopth of you posted..thanks
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LazyNihilist
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by LazyNihilist »

vampstko,

Don't be in a hurry. Take your time and learn before you make any huge mistakes.
The Getting Started link pkcrafter has posted above is the best place to start. And if you have any questions ask right away.

All the best.
The strong do what they can and the weak suffer what they must -Thucydides
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PaddyMac
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by PaddyMac »

Agree. Slow down. If you haven't been investing before, be really wary of taking any advice about the "next big thing". If you are not a sophisticated investor you might be well served with something like a simple Vanguard Target Date Fund.

It sounds like this is your first big chunk of retirement income, you are already getting a late start so don't get fancy and risky. That includes your wife's business - if she wants to present you with a business plan, by all means consider it; but avoid gambling with this money by falling for the emotional side of owning your own business without working out all the details.

Since you are self-employed (I believe), you have until next April 15 to open a SEP-IRA. Here you'll be able to save tax deferred up to 20% of your self-employment income for 2012. So work out what your contribution can be maxed out at (the IRS has a worksheet, as does Fidelity*) and put that much in the SEP-IRA (i.e., as if it was earned income for 2012). Then move another 20% of your 2013 income into the account for 2013 (you might want to contribute less than that until you know what your income will be at tax time in early 2014). You don't say what your marginal tax rate is, but if it's 25%, a SEP-IRA is the way to go. But you can also contribute to a Roth-IRA ($5K per year).

Money is money - so long as you have earned income, you can save some of this money into these two accounts, out of reach of any mad ideas until you are 59.5. Considering your relatives attitudes, this might be wise for when they come looking for loans for the next big thing that can't miss ("sorry, I can't withdraw the money until I'm ollldddd....").

links are in posts here on SEP-IRA worksheets: http://www.bogleheads.org/forum/viewtop ... 5#p1379645
rr2
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by rr2 »

I would take the money and put it into a 6 month CD temporarily. This will give enough time to read, get educated, and develop a plan.
Topic Author
vampstko
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by vampstko »

cd's seem like a good idea to start with ...found 1 year cd's with a 1.11% apy...is that decent for a CD?
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surfer1
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by surfer1 »

vampstko wrote:cd's seem like a good idea to start with ...found 1 year cd's with a 1.11% apy...is that decent for a CD?
It's ok, but you may as well get a 5-year CD with a low early withdrawal penalty for a higher rate. See the chart at http://goo.gl/SVTy1

I'd also buy a full allocation of I-Bonds and then put the rest in the CD.
fishndoc
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by fishndoc »

i went to art school and have been doing web design for years getting by...

working in webdesign i have been able to keep our heads above water...
Perhaps you should use some of the money to train yourself for a new career?
A better paying job that you enjoy would likely be the best "investment return" possible.
" Successful investing involves doing just a few things right, and avoiding serious mistakes." - J. Bogle
bberris
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by bberris »

fishndoc wrote:
i went to art school and have been doing web design for years getting by...

working in webdesign i have been able to keep our heads above water...
Perhaps you should use some of the money to train yourself for a new career?
A better paying job that you enjoy would likely be the best "investment return" possible.
Diving lessons?
voteEjordan
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by voteEjordan »

Absolutely agree that you should slow down, educate yourself rather than listen to others, and take your time.

That being said, you could do a lot worse than putting the entire amount in a Vanguard Target Date fund. Low expense ratios so less of your money goes to fees, automatically rebalances over time to keep your stock/bond ratio in track with your time to retirement.
poundwise
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by poundwise »

vampstko wrote: i would greatly appreciate any advice
Buy some better shoes?
bogleenigma
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by bogleenigma »

fishndoc wrote:
i went to art school and have been doing web design for years getting by...

working in webdesign i have been able to keep our heads above water...
Perhaps you should use some of the money to train yourself for a new career?
A better paying job that you enjoy would likely be the best "investment return" possible.
The first course of action is to find a place for your money NOW. Max out your 2012 allocation for I-Bonds. http://www.treasurydirect.com/ This is going to give you the best return you can get at the moment from a zero risk investment and you only have your money tied up for a year. Put the rest in a 5 year CD with a cheap early withdrawal penalty. AllyBank (http://www.ally.com/bank/high-yield-cd/ ... tabs=rates) is offering 1.68%, with a penalty of 60 days interest as an early withdrawal penalty. These are your best options to do SOMETHING with your money now that will get you some kind of return at ZERO risk. Once you have some idea of what you are doing then you can take on some risk.

Number two, if someone is giving you advice about your finances and they are not financially successful themselves, then they obviously have no useful advice to give you. "Financially successful" is relative. Many folks would say that anything less than a 500k portfolio at age 40 is not successful, but that's quite relative, as this does not account for spending habits, whether your house is paid off, alternative income sources, pensions, etc. Similarly, if you are receiving investment advice from a salesperson (insurance agent, brokers of mutual funds with sales loads) you can easily assume that they are crooks and their only objective is to enrich themselves at your expense and you should run from them like a man drenched in honey near a bee-hive. Most importantly, tune out the noise. Humbly be cognizant that you don't have a clue what you're doing and that all of your best guesses are probably wrong. Anything that appears "too good to be true", is in fact as it appears, too good to be true, and it is a delusion. Mind you, we are all assuming, as your post above seems to imply, that you have $0 set aside for retirement savings. If this is not the case then please feel free to correct our assumptions. In the meantime order a copy of "The Little Book of Common Sense Investing" by John Bogle and read the forum here obsessively. In a few months you will have a very good picture as to what a reasonable plan for your new-found wealth might look like.

More importantly, however, I want to second the poster above. You state "I'll be honest i went to art school and have been doing web design for years getting by." 40k is not enough money to do much of anything to help you retire comfortably by age 70, no matter how well invested. There are no free lunches. If, as it appears as above, that your retirement portfolio is $0, then your best investment is selecting a training program to do a line of work that will afford you an income sufficient so that you will not merely "get by" and that you will have enough dollars coming in to max out your tax deferred retirement accounts. To do otherwise is to make the conscious choice to be poor in retirement. Perhaps you are gifted at graphics design, perhaps you love it. But if you are just "getting by" then you have a responsibility to yourself, your wife, and your children to do more than that. Graphic design would make a good hobby and you could probably do more of the kinds of things that you find enjoyable. In retirement there are many folks who can get by on nothing but Social Security. I know lots of these folks. In areas of the country with higher costs of living they are, literally, living on cat-food. In more rural areas they can get by more comfortably, if you define living paycheck to paycheck as living comfortably.

Might I suggest a new found career in healthcare -- recession proof, always in demand, and the salaries are better than most. If you have a bachelor's degree in art you can do pre-reqs (Biology, A&P, Chemistry, Nutrition, Microbiology, etc) at a community college, and then afterwards you would be able to do an accelerated BSN program and be an RN in 4 semesters (provided that you had a decent under-graduate background). A slower, but cheaper route would be to do an A.S.N. at a community college, though the BSN affords you opportunities for certain higher paying positions and more opportunities for long-term advancement. Starting RN salary in my area of the country is about $55k, average salary (with experience) is about $80k. If you finish school at 43, and then promptly start saving like a mad-man and make it your priority to max-out your tax deferred retirement accounts then you will be just fine retiring at age 70. My guess is that your entire educational preparation would probably be only slightly above the $40k you will be getting.

Sorry to sound a bit negative. I recently had a similar conversation with a much beloved relative of mine who came into a small amount of money in a similar fashion as yourself. I'm merely giving you the same frank advice I gave him.
DualIncomeNoDebt
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by DualIncomeNoDebt »

vampstko wrote:i would greatly appreciate any advice
Three kids, forty years old, retirement accounts zeroed out. This is not a good place to be. You need a major financial makeover, to the point where you are banking 100% your (or your wife's) income; the other income pays expenses. I second the alternative career choices recommended by others.

As for the lawsuit proceeds, why are you discussing the case with anyone other than your lawyer? Only conversations with your lawyer, and possibly wife, are privileged (attorney-client and marital privilege). Anything else, you can be forced to divulge. Period. Until you have settlement papers inked and check in hand, you have nothing.

If the settlement falls through, you are likely to be deposed, or may have to testify at a hearing or trial. Guaranteed even a bad or novice bad defense lawyer is going to ask a plaintiff like you, "have you discussed this lawsuit with anyone"? If the answer is yes, whammo, you just opened up the door to a good fifteen minutes of followup, while your own lawyer braces for the worst. The defense will inquire about who you spoke to, when, why, and exactly what you spoke about -- and all of it is discoverable, so you will have to answer. The worst response is, I talked about the money. Even a modestly creative lawyer is just going to hammer you with leading questions, and will spin it in all manner of creative ways, none of which helps you.

Stop talking to your broke relatives about your litigation. They have nothing of value to contribute. Smarten up.
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Mark13
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by Mark13 »

Without knowing more about your total financial situation, it's impossible to say whether you should be thinking about investing at all. For some people, "keeping their head above water" could mean having a small emergency fund but no long-term investments. For others, it could mean no savings at all and just able to make a car payment and a minimum payment on credit card debt. Paying down high-cost debt (if you have any) and establishing an emergency fund (if you don't have one) should take precedence over investing.
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vampstko
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by vampstko »

1st thank you all for your responses..
lets address a couple things...
1. i have considered a different line of employment..with a family of 5 in florida making 800 a week is a fair wage but there has to be better
2. wife is on disability so we only have 1 main income (mine) and she receives 550 a month disability
3. a short term cd is a great idea thanks
4. the lawsuit is done and over the checks have been cut i am recieving 35k
5. i would like to find a passive income like rental property or something was looking into tax lien sales..anyone else ever look into this?
6. i have looked into investing in coins since one of my clients is a gold and silver buyer and i have some knowledge in this field
7. is the stock market to unsure to invest in for short and long term returns..are their any other sites good for stocks for dummies

thanks again
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Random Musings
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Re: Investing After My Lawsuit - Really Lost!!!!

Post by Random Musings »

5. i would like to find a passive income like rental property or something was looking into tax lien sales..anyone else ever look into this?
6. i have looked into investing in coins since one of my clients is a gold and silver buyer and i have some knowledge in this field
7. is the stock market to unsure to invest in for short and long term returns..are their any other sites good for stocks for dummies
As mentioned before, put in short-term CD's and research on this site and use Wiki. You also need some of that $35K just to be in an emergency account. The balance ultimately can be invested.

With respect to 5, I think that's a no. You only have $35K less emergency account to invest in. Diversify.
With respect to 6, that's a big no. The markets know more than you. Some knowledge most likely means not enough.
With respect to 7, don't buy individual stocks. Buy the markets and diversify via low cost index/passive funds.

Read and learn before doing anything (except setting up your emergency account, buying a short-term CD and looking for higher paying employment, if possible). That latter can help you the most.

RM
I figure the odds be fifty-fifty I just might have something to say. FZ
barnaclebob
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Re: Investing After My Lawsuit - Really Lost!!!!

Post by barnaclebob »

I would be very weary buying property in an auction setting... you have to know what you are looking at or you could end up buying a house where the previous owner did a shoddy job removing the asbestos because he didn't want to pay a professional to remove it right.
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OZAR
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Re: Investing After My Lawsuit - Really Lost!!!!

Post by OZAR »

How is your debt?

Car loans?
Credit Card Balances?

I would knock out debt first, educate yourself, then invest for your future.
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ruralavalon
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by ruralavalon »

vampstko wrote:5. i would like to find a passive income like rental property or something was looking into tax lien sales..anyone else ever look into this?
6. i have looked into investing in coins since one of my clients is a gold and silver buyer and i have some knowledge in this field
7. is the stock market to unsure to invest in for short and long term returns..are their any other sites good for stocks for dummies
5. Buying rental property is probably a bad idea in my opinion, unless you are already experienced in handling rentals and renters, maintenance and upkeep, management, insurance and real estate taxes etc. This is not an easy way to make money;
6. Precious metals or coins are not a good investment idea in my opinion. Precious metals are now at an all time high, and thus likely to fall;
7. Broad diversification in stocks and bonds is a good long-term investment choice, so do the bit of reading suggested and consider index funds.

As I mentioned earlier, take some time and learn a bit before you act; there is no rush. Ignore your family's suggestions. Also, if you have higher interest debt like credit card debt or car loans, consider paying that off right away. While you are fuguring out your plan for this $35,000, short term CDs are a good idea, probably the best idea temporarily.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
Topic Author
vampstko
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Re: Investing After My Lawsuit - Really Lost!!!!

Post by vampstko »

OZAR wrote:How is your debt?

Car loans?
Credit Card Balances?

I would knock out debt first, educate yourself, then invest for your future.

no debt..filed bankruptcy years ago
car paid off
no credit cards
unless you count 3 daughters as debt
Khanmots
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Re: Investing After My Lawsuit - Really Lost!!!!

Post by Khanmots »

Something to keep in mind is that return is driven by risk.

In other words, if an investment is touted as having a good return, then there's a lot of risk driving that supposed return. Risk of losing a lot or all of the money you put into the investment. The higher the supposed return, the higher the risk of losing your money.

If someone tells you that there's something with no risk and good return, ask yourself why every investor in the world isn't jumping on this opportunity. Why are you the one to have found this "safe" investment that no one with money is taking advantage of? Why are all these other investors ignoring it and buying low-return CDs and US treasuries instead?

I'm sure you've heard the saying, "if you don't know who the sucker is, it's you"; it applies just as much in investing as it does in poker.

On your point 7 you remark about the stock market being "unsure". It's less risky than many of the things you've talked about, you've just seen the risks it has and haven't seen the risks of the others so you're not seeing how they're more of an "unsure" thing. For example, look at the rental thing... what do you do when your you get a bad tenant that trashes the property, refuses to fix it, and ties you up for months while you try to evict him (while he's trashing the place more) hoping that you screw up the process so that he can sue you? Or you can't rent the place for 6 months but have to keep paying taxes and insurance and stuff? If you buy gold/silver what do you do if prices drop back to normal and sit there for the next 20 years? There's risks with all of these, you just haven't seen the news reports about them like you do when the stock market moves.
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tc101
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Re: Investing After My Lawsuit - Really Lost!!!!

Post by tc101 »

The single most important thing to remember:

There is no hurry. Take your time. Put the money in the bank and don't do anything right away.
. | The most important thing you should know about me is that I am not an expert.
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HomerJ
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by HomerJ »

vampstko wrote:5. i would like to find a passive income like rental property or something was looking into tax lien sales..anyone else ever look into this?
6. i have looked into investing in coins since one of my clients is a gold and silver buyer and i have some knowledge in this field
7. is the stock market to unsure to invest in for short and long term returns..are their any other sites good for stocks for dummies
Rental property is NOT "passive" income. It takes a lot of work to be a landlord.

Gold and silver can be a decent SMALL addition to a portfolio (like 5% or 10% of your investments) but it's not something to sink all your money into.

Long-term, the stock market is likely a very good bet, but you want to buy a low-cost stock index fund like the Vanguard Total Stock Market Index fund instead of trying to pick individual stocks.

------------------

First thing, put the money in the bank and wait to do anything... and read some of the books in this list...

http://www.bogleheads.org/readbooks.htm

You're going to want to first establish an emergency fund. Living paycheck to paycheck is very stressful. Keep some money in the bank in case your car breaks down, or your furnance, or you lose your job... I would take $10,000 right off the table, and keep it in bank for emergencies like that. You really should also look at your expenses and try to figure out if there's anywhere you can cut costs. Spending every cent you make it is a recipe for long-term disaster and $35k isn't enough to change that.

If you have any high-interest debt, pay it off... Credit cards, car loans, etc. Say you owe $7000 on your car, and you're paying $300 a month... Paying off that loan is same as generating $300 a month of passive income, because that's $300 more dollars you get to keep from your paycheck.

Spend a little of your windfall on something nice, like maybe a family vacation, Or maybe a new computer or IPad or TV... I'm talking like $1000-2000 or so. Don't go crazy. But treat yourself to something.

The rest of it you should invest in an index fund like Vanguard's Target Retirement 2040... and leave it alone for the next 20-30 years.

There's no reliable way to "get rich quick". You're very likely to lose the entire windfall if you open your business, invest in hot stock tips, buy a bunch of gold, invest in rental property that may get foreclosed on you if you can't find tenants for 6 months,etc.

Play it safe... Emergency fund, get rid of debt, conservative low-cost diversified investments.
Calm Man
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by Calm Man »

vampstko wrote:1st thank you all for your responses..
lets address a couple things...
1. i have considered a different line of employment..with a family of 5 in florida making 800 a week is a fair wage but there has to be better
2. wife is on disability so we only have 1 main income (mine) and she receives 550 a month disability
3. a short term cd is a great idea thanks
4. the lawsuit is done and over the checks have been cut i am recieving 35k
5. i would like to find a passive income like rental property or something was looking into tax lien sales..anyone else ever look into this?
6. i have looked into investing in coins since one of my clients is a gold and silver buyer and i have some knowledge in this field
7. is the stock market to unsure to invest in for short and long term returns..are their any other sites good for stocks for dummies

thanks again
OP, I do not get #6. You have basically told this group that you have nothing saved and a low income with which you support a family of 5. Yet you are looking to invest a modest amount that you have received in the riskiest types of investments that literally nobody here would touch. Why don't you just put it into a target retirement fund or a 3-fund portfolio at Vanguard and be done with it? Then you can focus on earning more money to support the family and save something for the needs of retirement as you are not getting any younger? You might buy some tax liens, have them default and then need to get an attorney, proceed with an eviction, etc. You might buy 5 or 10 or 50 coins and overpay and have them lose money or return little or nothing?
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JupiterJones
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Re: Investing After My Lawsuit - Really Lost!!!!

Post by JupiterJones »

vampstko wrote: I have heard advice from the inlaws, the parents, friends etc..but i sit back and think...they are all broke too LOL..
Very smart! You should always be careful taking financial advice from broke people. :D

First, depending on the nature of your settlement, some or all of the $35,000 could be counted as taxable income. You certainly don't want to spend/invest it all, only to find out you have a big tax bill to pay come April. So be careful there!

Second, as others have said, there's no rush. The general advice for what to do with windfalls is... nothing. Not right away at least. The CD is a fine idea, but you can also put it in an online money market account such as ING and earn almost as much interest, but be able to withdraw parts of it whenever you want without penalty. Regardless, take some time to read and learn and think.

Third, I agree that the next priority (given that you have no debt) would be to establish an emergency fund "cushion" of 3-6 months or more of expenses. This is for unexpected, unplanned situations like job loss, medical expenses, unexpected car repairs, and that sort of thing. (Expected car repairs, such as a new timing belt at 100k or whatever, should be planned for and saved up for.)

Now, for what's left over... I would strongly advise staying far, far away from gimmicks and schemes like tax lien real estate, heavy investment in gold/silver, investing in your cousin's roommate's sure-fire business, etc. And you should not invest in the stock of only a few companies (regardless of whether they're mining or internet or biotech or whatever).

You don't want Eddie Haskell, you want Ward Cleaver. Something boring and conservative, but more-or-less solid and trustworthy. The typical Boglehead approach is low-cost, diversified investments in very, very broad range of stocks and bonds (usually via index mutual funds) held for the long-haul. The idea isn't to supplement your income now, but to build and grow to the point where it provides you income when you are no longer working. It's not glamorous. And for someone chomping at the bit to parlay a settlement into an income stream, it's probably a bit disappointing. But that's what I do, and that's what most everyone else around here does too.

That said, investing in yourself via education might not be a bad idea either. But aim for low-cost here too. Community colleges, local state universities, online education from accredited, bricks-and-mortar state schools, and so forth. You could either expand your current skills or add completely new ones. If you do want to go into business for yourself someday, then I highly recommend taking classes pertaining to running a small business first. Just because you're good at something, that doesn't mean you're good at running a business that sells that something.

Good luck!

JJ
"Stay on target! Stay on target!"
Topic Author
vampstko
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Re: Investing After My Lawsuit - Really Lost!!!!

Post by vampstko »

**UPDATE

called vangaurd and they duggested index investment, and a MF..going to talk top them again tommarow
thats a start...still planning on looking into a CD

still intrested in something for a possible short term return..but planning on taking things slow and look for the long term investment
i appreciate the comments ..a non bias advice is always helpful
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InvestorNewb
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Re: Investing After My Lawsuit - REALLY LOST!!!!

Post by InvestorNewb »

mdpsychcrnp wrote:Number two, if someone is giving you advice about your finances and they are not financially successful themselves, then they obviously have no useful advice to give you.
In philosophy this is known as the genetic fallacy.
My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest)
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roymeo
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Re: Investing After My Lawsuit - Really Lost!!!!

Post by roymeo »

You're not going to get advice here about trying to find the next thing right before it takes off. And then being smart enough to sell it at just the right time before it crashes back to earth. And then finding the next right time to buy, and of course the next right time to sell.

If you want that, then heck, examine the talents of your daughters and invest the money into their music/riding/singing/ballet/archery skill so they become world class competitors/reality TV stars. Your chances are probably better--you can't yell at a stock or a coin to go practice more.

Here you'll find advice to reduce the risk of a washout. Slow and steady, tortoise and ant, not hare and grasshopper. It's not as sexy, but it can be easy as a Target Retirement fund. No coin polishing required.

Roymeo

edit to add from a smart lady: "You were smart enough to realize that you needed to ask for advice. Now you just need to be smart enough to take that advice."
The sewer system is a form of welfare state. | -- "Libra", Don DeLillo
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