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How to invest 60k?

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irevency
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How to invest 60k?  Reply with quote  

Soon I will be coming into some money, 60k to be exact. Very unexpected, so im struggling to figure out what to do with the money. I would like to do something that will generate income so it never fully depletes. Im still young and have many options open but wish for some guidance or recommendations, thanks.

-Revency
Post Thu Jan 10, 2013 5:02 am
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oldguy
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I would (and do) invest in an SP500 Index Fund at a no-load fund company such as Vanguard or Fidelity. Historically, $60k would grow to $1,300,000 in 30 years. The fund grows tax deferred. So, if you are young, that would lock in your retirement. Very Happy
Post Thu Jan 10, 2013 1:27 pm
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littleroc02us
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I think Old Guy has the best idea. I just looked at my Vanguards funds overall performance which mostly tracks the S&P 500 and I got 14.8% returns for the year. My only other question is do you have any debt and do you have any plans to buy a home in the near future?

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Thu Jan 10, 2013 2:18 pm
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irevency
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quote:
Originally posted by littleroc02us
I think Old Guy has the best idea. I just looked at my Vanguards funds overall performance which mostly tracks the S&P 500 and I got 14.8% returns for the year. My only other question is do you have any debt and do you have any plans to buy a home in the near future?


No debt.. and no plans for a house, I think old guys idea was almost exactly what i was looking for..
Post Thu Jan 10, 2013 5:26 pm
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irevency
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quote:
Originally posted by oldguy
I would (and do) invest in an SP500 Index Fund at a no-load fund company such as Vanguard or Fidelity. Historically, $60k would grow to $1,300,000 in 30 years. The fund grows tax deferred. So, if you are young, that would lock in your retirement. Very Happy


Thanks, great help. Can you explain a few things for me? What is a no load fund? And what percentage are you actually making back?
Post Thu Jan 10, 2013 5:27 pm
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coaster
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"no-load" means there is no sales commission or sales charge deducted from your investment. For example, if you make a purchase of $1000 and the value of a share is (to use a random example) $32.43, then you will find you have purchased 30.836 shares in your account. However, if you invest your money with a mutual fund that charges a sales commission ( the lingo is "load" ) then, for example, if the load is 5%, that will be taken off the front ("front-end load") and you will find yourself with only 29.294 shares in your account.

As for what you "make back" ( the lingo to use is "return" ), nobody can forecast the future. You were given a couple examples of past returns in the posts above; the future could be better, or it could be worse.

~Tim~
Post Mon Jan 14, 2013 7:48 am
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Anton Martin
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Re: How to invest 60k?  Reply with quote  

quote:
Originally posted by irevency
Soon I will be coming into some money, 60k to be exact. Very unexpected, so im struggling to figure out what to do with the money. I would like to do something that will generate income so it never fully depletes. Im still young and have many options open but wish for some guidance or recommendations, thanks.

-Revency


You can invest small amount of your money in stocks, bonds and mutual funds. It can give you good returns. Other options are like insurance, such as; life insurance, health insurance and there are other insurance options also available but it depends on your need what you needed.
Post Mon Mar 25, 2013 12:09 pm
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sosabe77
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quote:
Originally posted by oldguy
I would (and do) invest in an SP500 Index Fund at a no-load fund company such as Vanguard or Fidelity. Historically, $60k would grow to $1,300,000 in 30 years. The fund grows tax deferred. So, if you are young, that would lock in your retirement. Very Happy


Great advice.
Post Wed Mar 27, 2013 10:38 am
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gilbertholdings
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if you don't max out your roth ira, i'd put it in the roth. that way, the earnings will all be tax free too. it'll take a little time, but let you average into market. if you want, you could put it all in a traditional ira in the index funds, then just roll over 5k each year. just make sure you have the funds to pay the taxes.
Post Thu Mar 28, 2013 10:34 am
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