What does the Pelican braintrust suggest here?
My brother is selling off one of his business ventures and thinks he will walk with around $200k after the dust settles. He doesn't need the cash right now and really would rather keep it working for him long term in a tax-deferred investment. If he just puts it in the bank the IRS will tax the lump sum gain but he doesn't want to send any more than absolutely necessary to Washington. Could he roll all of this into a tax deferred investment? What investment makes sense that would still generate long term appreciation? He is 56 and figures 5-10 years before he will need to start pulling some cash out.
I told him he should buy a NorCal pot farm. He thinks I am nutz.
