Quote:
Originally posted by targa911S
I WISH I had made 500K on my last sale! Made just enough to own this place, be debt free (for a while) and have $20K left over.
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Hey, that ain't bad! Better than losing $20K!
My suggestion is probably the most boring. But it seems to me that many people just can't stand to hang onto any sort of windfall. They just insist on letting that cash slip through their fingers. So here's my suggestion. Take maybe 10%...$2K. Blow it however you wish.
The remainder? Put it something safe. That can be a short term CD, Money market, etc. Safe but fairly liquid is the goal. Then take some time. Read, learn more about the various investment instruments...but vow to do nothing with that unspent money for at least 6 months. Your #1 priority should be to quit being "stupid about this stuff". BTW, you're not stupid...you just don't know. You're wise to ask. Now begin to educate yourself.
BUY THIS BOOK! Amazon sells it. We have investment books galore here. This one is the best overview of all types of investing that I have read so far:
The Bogleheads guide to investing
by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf
published by John Wiley & Sons, Inc.
BUY THIS BOOK!
