Comments on: Money Question: Where to Put the Money? http://www.thesunsfinancialdiary.com/money-question/money-question-where-to-put-the-money/ Fri, 03 Feb 2012 17:42:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: TFBhttp://www.thesunsfinancialdiary.com/money-question/money-question-where-to-put-the-money/#comment-6451 TFB Wed, 11 Apr 2007 23:48:06 +0000 http://www.thesunsfinancialdiary.com/2007/04/11/money-question-where-to-put-the-money/#comment-6451 I like golbguru's answer the best, which is an example for seeing the larger picture. If Mom is a millionaire, what happens to $1,100 doesn't matter. If $1,100 is all Mom has, there's a much bigger issue than what happens to this $1,100. If Mom has other money and she already has a good investment plan in place, just blend it in. If Mom has other money but doesn't have a good plan, she needs a good overall plan first. I like golbguru’s answer the best, which is an example for seeing the larger picture. If Mom is a millionaire, what happens to $1,100 doesn’t matter. If $1,100 is all Mom has, there’s a much bigger issue than what happens to this $1,100. If Mom has other money and she already has a good investment plan in place, just blend it in. If Mom has other money but doesn’t have a good plan, she needs a good overall plan first.

]]> By: moomhttp://www.thesunsfinancialdiary.com/money-question/money-question-where-to-put-the-money/#comment-6446 moom Wed, 11 Apr 2007 23:22:30 +0000 http://www.thesunsfinancialdiary.com/2007/04/11/money-question-where-to-put-the-money/#comment-6446 Without having the big picture it's impossible to give advice. Taking the question at face value - this money isn't needed now but assuming the mother doesn't have anything in long-term self controlled assets - I would open a Roth IRA and invest in one of those target funds for 2025 or so. Need to make sure you don't pay any loads or big brokerage fees. Ameritrade charges $50 to buy most no-load funds though some are fee free. Without having the big picture it’s impossible to give advice. Taking the question at face value – this money isn’t needed now but assuming the mother doesn’t have anything in long-term self controlled assets – I would open a Roth IRA and invest in one of those target funds for 2025 or so. Need to make sure you don’t pay any loads or big brokerage fees. Ameritrade charges $50 to buy most no-load funds though some are fee free.

]]> By: Savvy Stewardhttp://www.thesunsfinancialdiary.com/money-question/money-question-where-to-put-the-money/#comment-6427 Savvy Steward Wed, 11 Apr 2007 20:07:50 +0000 http://www.thesunsfinancialdiary.com/2007/04/11/money-question-where-to-put-the-money/#comment-6427 I think the above are all great suggestions. $1100 is not that much. It's one thing if that is an initial investment, but if no further investments are going to be made in the next twenty years then maybe it's better to actually use the money.One option is to either apply it to her mortgage so that she will be debt free sooner, or if she already has the house paid off, invest the money into a facelift/project for the house.Spending the money now, she can enjoy the benefits of an upgrade to her house, and then when she goes to sell it, the upgrade will have added to the value of the house. Obviously there is risk, but if you have the right house and make the right type of upgrade, it will appreciate in value. An investment with potential return and something you can enjoy immediately. I think the above are all great suggestions. $1100 is not that much. It’s one thing if that is an initial investment, but if no further investments are going to be made in the next twenty years then maybe it’s better to actually use the money.

One option is to either apply it to her mortgage so that she will be debt free sooner, or if she already has the house paid off, invest the money into a facelift/project for the house.

Spending the money now, she can enjoy the benefits of an upgrade to her house, and then when she goes to sell it, the upgrade will have added to the value of the house. Obviously there is risk, but if you have the right house and make the right type of upgrade, it will appreciate in value. An investment with potential return and something you can enjoy immediately.

]]> By: The Digerati Lifehttp://www.thesunsfinancialdiary.com/money-question/money-question-where-to-put-the-money/#comment-6395 The Digerati Life Wed, 11 Apr 2007 15:01:26 +0000 http://www.thesunsfinancialdiary.com/2007/04/11/money-question-where-to-put-the-money/#comment-6395 Sun, thanks for the inaugural edition of What's Your Money Question? :D This is great. Sun, thanks for the inaugural edition of What’s Your Money Question? :D This is great.

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