Coming into Money - how would you invest?

Question

Hey Everyone - I had a friend who recently came into around $1M and wanted to know how to invest it. He asked me my advice and it got me thinking about what I would do.

So with that being said, if you came into $1M, how would you invest it? Strictly Real Estate? Stocks?

Fire away!

Chris Davidson · Answer

@Ryan Cousins great advice from @Chris Seveney the biggest thing is move slow in the beginning. People will come out of the wood work with opportunities and deals. Put some where low risk ok return which you finally can right now. Then invest in education and learn how to manage at least the managers of the funds. Also sticking it in bonds or CD's ties it up to where you can't spend it while working on your plan. one million goes fast when it comes in fast. If you invest in the education you will know what to do when the time is right.

Cheers!

Chris Seveney · Answer

I would advise him to stick it in government treasuries for the next two years and during that time speak with wealth managers and others to get an idea of what he wants to invest in, learn more about it then make wise decisions with the investment. of course you will get 100 opinions here on BP to invest with them, but the easiest way to lose money is ot invest it in something you do nto understand. They can make $40-$50k a year doing nothing with it while they learn about what they want to invest in. Thats not a bad investment.