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Updated almost 7 years ago on . Most recent reply
Mom inherited 500k, knows nothing about investing
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Someone above suggested an annuity, which is bad advice to be giving without knowing much more about your Mom's situation. With ANY investment, annuity or otherwise, probably the most important question to ask the SALESMAN, because that is who you're dealing with is the following;
If I buy this NOW and sell it TOMORROW, how much of my original price will I get back?
That will tell you how much commission the salesman is earning.
Another bit of help regarding asking for financial advice, anyone can call themselves a FINANCIAL ADVISOR, many insurance agents and CPAs do this. Only a very few can call themselves a CERTIFIED FINANCIAL PLANNER. To do that requires adherence to s very strict code of ethics.