highhertel
Member
Some great advice here Doug. I spent several years in the financial industry, Caveat Emptor comes to mind.
HH
I Inhaireted Alot of $$
- Thread starter chords
- Start date
Some great advice here Doug. I spent several years in the financial industry, Caveat Emptor comes to mind.
HH
indy_500
Well-known member
I don't think I'd be asking that on a public forum, kinda like asking a woman how much she weighs! I like the sock under bed method, I like to know where my money is!
G
G
Guest
I inherited a chunk of money 3 years ago. Not enough so I don't have to do anything the rest of my life but a nice chunk. I payed off a bunch of debt. Everything but my house basically. The rest stayed with the stockbroker that had always run that money. Guess what - you don't make much on stocks. Even on the ups we have had. By the time you pay all the fees and transaction costs and other crap to the brokers there isn't a lot left. Then you get to pay taxes on it. Some of these gains are wiped out by the increased accounting fees I had to pay. Plus you get to worry every day if the stock will crash or any number of things that can happen when you let other people play with your money. So I cashed out my stocks and paid off all the taxes and costs associated with them. The money was converted to 100's and they are sitting in a safety deposit box. Nobody knows how much is there except Me. No bank or governmental institution or broker has any record of that money. It makes no money but it costs me no money either. My stash won't keep up with inflation but I don't care. It will still be there no matter if oil crashes or Panama gets invaded by North Korea. Invested or saved money is not the key to happiness. NO DEBT is the key to happiness. After that everything else is gravy. So no - don't put your money in a sock under your bed. Your dog might eat it. Put it into hiding.
gogebic_sledder
Member
First off don't tell your wife
I know... but I don't think I would announce to the world on a public forum that "I Inhaireted Alot of $$" either. So since he did, I thought he would share how much too?
I don't think I'd want to keep 5 million in a sock under my bed. What if your house burned down?
chords
Active member
Well thanks for some sound advice. And some funny. First I know how to spell. Just lookin to rattle youse. You know.
And if I'm correct 2014 estate tax kicks in at 4 million or so. Not an expert, but not completely lost. Still looking at options.
Wait,,, did someone say Black Tahoes ?? I did notice a few drive bys today,,, uhhhh I was just kidding no money here.
And if I'm correct 2014 estate tax kicks in at 4 million or so. Not an expert, but not completely lost. Still looking at options.
Wait,,, did someone say Black Tahoes ?? I did notice a few drive bys today,,, uhhhh I was just kidding no money here.
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good one bro!!
Talk to a few Financial Advisers....if they want to charge to talk they are the WRONG person. With that amount of green you should not pay 1 penny in fees. Fees go away at about 1 million bucks then advisers are just glad to invest your ching. I have a guy if you are interested that will put a plan together for you based on what you want to do goals & objectives & does not charge for that service. Don't be afraid to contact Financial Advisers some are bland, some are idiots too but there are advisers that really care & can put a good package together for you. Best of luck & hope you find the right adviser.
dj2muchjunk
New member
You need to invest some serious time in your new adventure. Your new job is to manage your portfolio. First have a professional analyze your tax responsibilities, then pay a good CPA to protect your windfall from as much tax penalties as possible. Then enjoy your good fortune!
sounds like u have way way to much faith in the US dollar.
it is not if but when it is going to collapse. when that happens u prob wont even have access to your green toilet paper
IMO
Most in cash - bad idea.
Half in gold - even worse idea.
If you have very little profits after investing in the stock market after the last few years, you've been making bad investments or too many people have been skimming off the top. Keys for simple investing - good funds or simply index funds with no loads and very low maintenance fees (<1%), proper asset allocation. If you had followed those simple rules you would made significant profits on stocks over the last few years; historically 9+%. With some in more conservative investments (e.g. income instruments such as CDs, bonds, etc), your return would be lower, say 7%, but heck of a lot better than stashing benjamins.
Most in cash - bad idea.
Half in gold - even worse idea.
If you have very little profits after investing in the stock market after the last few years, you've been making bad investments or too many people have been skimming off the top. Keys for simple investing - good funds or simply index funds with no loads and very low maintenance fees (<1%), proper asset allocation. If you had followed those simple rules you would made significant profits on stocks over the last few years; historically 9+%. With some in more conservative investments (e.g. income instruments such as CDs, bonds, etc), your return would be lower, say 7%, but heck of a lot better than stashing benjamins.
X2 gold bubble burst what 2 years ago? ...at least 1 year ....don't remember exact date the dive started but real bad idea now! Lots of good investments gold not one of them right now.. gold is a hedge to a Bear market ... forget about it now. Energy stocks readjusting down now ... wait it out & ride up lots of good stuff to consider in Q1.
.......
days pass and chords is taken (blindfolded) to an undisclosed location,...
Seated in a large high back leather chair,... in a dim lit room with the smell
of cigar smoke in the air and the sound of pacing hard soul-shoes on a dusty
hardwood floor echo through the room,....
"Take The Blind Fold Off!"
"So Chords,....I hears you come a into some extra munnnies have you???"
"Eh?,..."
"Do You still like playing dat music of yourzz on dat noiyzse making guitar thingy you play?"
"Eh?,..."
"So Tellz me now Chords,...Whicha deez FINGERS you usse to make a dat guitar sound play?"
"Eh?,..."
"Whicha deez FINGERS?????",.........
Soes you tellz me now,... Once upon a times,.... Use feels sorries for ya Uncle Vinnie,... anna ya wanna
helpa him out! Right?
You're a goooood Boy Chords,...
A Gooooood Boy!
You momma,....she a raise you good Chords.
There's a Knock on the door,....
Mezz peeks his head in,... say's "Hey Vin!,... What's goin' on?"
What's Chords doin' tied up in that chair for?
"Move Along,..... There's Nothing To See Here,...."
NOTE:
excerpt from chapter 7 of Chords new book
What happens when millions fall from the skies.
days pass and chords is taken (blindfolded) to an undisclosed location,...
Seated in a large high back leather chair,... in a dim lit room with the smell
of cigar smoke in the air and the sound of pacing hard soul-shoes on a dusty
hardwood floor echo through the room,....
"Take The Blind Fold Off!"
"So Chords,....I hears you come a into some extra munnnies have you???"
"Eh?,..."
"Do You still like playing dat music of yourzz on dat noiyzse making guitar thingy you play?"
"Eh?,..."
"So Tellz me now Chords,...Whicha deez FINGERS you usse to make a dat guitar sound play?"
"Eh?,..."
"Whicha deez FINGERS?????",.........
Soes you tellz me now,... Once upon a times,.... Use feels sorries for ya Uncle Vinnie,... anna ya wanna
helpa him out! Right?
You're a goooood Boy Chords,...
A Gooooood Boy!
You momma,....she a raise you good Chords.
There's a Knock on the door,....
Mezz peeks his head in,... say's "Hey Vin!,... What's goin' on?"
What's Chords doin' tied up in that chair for?
"Move Along,..... There's Nothing To See Here,...."
NOTE:
excerpt from chapter 7 of Chords new book
What happens when millions fall from the skies.
LoveMyDobe
Active member
If you divorce, wife isn't entitled to any unless you spend it on something, then what you bought is joint property. If you pay off something, same thing. So do not spend any if you plan on divorcing ...............spoken from past conversation with a lawyer.
