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    jonespr's Avatar
    jonespr Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 22, 2007, 10:48 PM
    Investing 1 Million Dollars
    Everyone I am a 41 YO Male and my mom is 65 YO, we recently won a malpractice
    Lawsuit worth 3.5 million dollars. The lawyer will take 700K and the Insurance company
    Will get their money they paid out medically so that is 375K. My questions is this, what
    Would you do with 1.1 Million dollars of the amount that I have left. Some say annuity or
    Treasury bonds, can I get a little insite on what you guys think. This money is under
    Personal injury and is not taxable, however if I don't structure it in the paperwork the
    Money I make on it is so I need replys ASAP. Remember I want this money to generate
    Monthly income as well as grow over the years. Please help. Thanks
    charlotte234s's Avatar
    charlotte234s Posts: 1,903, Reputation: 143
    Ultra Member
    		  
    #2

    Oct 23, 2007, 06:51 AM
    You could invest it into my bank account... XD

    But seriously, I would suggest talking to a real financial advisor. But I think a good idea might be to put some of it into CD's or Bonds and put some that you could get access to into a savings account, mutual fund, or money market account.

    I'm no expert on this, so I would think you should definitely talk to a financial advisor to find out where you can put money so that you can earn more and still have access to it.
    KCDave's Avatar
    KCDave Posts: 61, Reputation: 5
    Junior Member
    		  
    #3

    Oct 23, 2007, 11:39 AM
    I second the talking to a financial planner. But, what they would most likely do is have you invest it in no load mutual funds. If it was me I would pay off all my debt invest the rest in no load funds and live debt free :)
    mswift555's Avatar
    mswift555 Posts: 1, Reputation: 1
    New Member
    		  
    #4

    Nov 5, 2007, 12:02 AM
    Contact an investment firm of your choice (Amerprise Financial, Charles Swab…ect) and speak with a financial advisor. Let them know what you want to do and they will be able to make some good suggestions. If you don’t want to pay for commission fees then you may not want a personal (face to face) advisor. I have Amerprise and I deal with an advisor that doesn’t earn commission over the phone. Trust me I’ve asked. Make sure you ask about mutual funds that generate growth and income. Also about IRA’s and Roth IRA’s. I hope this helps you get started if you haven’t already.



    Quote Originally Posted by jonespr
    Everyone I am a 41 YO Male and my mom is 65 YO, we recently won a malpractice
    lawsuit worth 3.5 million dollars. The lawyer will take 700K and the Insurance company
    will get their money they paid out medically so that is 375K. My questions is this, what
    would you do with 1.1 Million dollars of the amount that I have left. Some say annuity or
    treasury bonds, can I get a little insite on what you guys think. This money is under
    personal injury and is not taxable, however if I don't structure it in the paperwork the
    money I make on it is so I need replys ASAP. Remember I want this money to generate
    monthly income as well as grow over the years. Please help. Thanks
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