What is the best way to invest this money?
I am 22 years old, and I recently came into an inheritance from a relative who passed on. Though the estate is currently being valued and will have to go to probate due to some unresolved matters with a property he owned, there was a lifetime annuity that was created and not included in the trust. What it boils down to is, for the next 12 years, I am to receive a monthly deposit of $500 (from the annuity). I want to do right by him, as he did a lot for my family and was a true gentleman. His close friend and personal financial adviser has recommended that I put an amount towards a Roth IRA and he suggested opening a Money Market account. Here's the problem: I don't know how any of this works. Can someone be kind enough to explain what my best options are? He attempted to explain it, but I didn't quite grasp it. Any help is greatly appreciated!
Asked By: peersignal - 3/22/2007
Best Answer - Chosen by Asker
You are 22 years old -- What an opportunity... More
Answered By: Remember Back - 3/22/2007
Additional Answers (2)
I would buy Real Estate.
Answered By: Jim J - 3/22/2007
Get your part and invest in a property on and island or Orlando any tourist town is great. I made mine in the Florida keys and it did great. Don't let someone handle your money you buy a place and pay for it it will pay off.
Answered By: Laura C - 3/22/2007
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