You come into a large sum of money. What do you do with it?

The very first thing you want to do with it is to put it somewhere it will be safe, like a bank, (or banks) or maybe in a no-load (no commissions) mutual fund which invests in government securities. This is very safe.

Then, while your money is sitting somewhere safe, find a good financial adviser. I agree with the person who advised a fee for service adviser because they should be looking out for your best interest. The ones who don't charge a fee will be trying to sell you something on which they will make a big commission, looking out for their best interest, not yours.

But, before you select an advisor, check them out. Get references, check the references, have your bank check the person or firm out. Your bank may even to be able to recommend someone. But, even if your bank recommends them, do your work and check them out before hiring them. Do whatever you have to do to be certain you are dealing with a knowledgeable, trustworthy counselor.

I wish you well.

Pay off all your debt, a guaranteed great rate of return on your investment. After that, there are no guarantees. A "safe" savings account or money market could be eaten alive via inflation. Better to maintain a diversified portfolio of stocks and bonds which in the long run should offer you a good return.

Invest in the "Next big thing"

Commodities.

Here is a web site you can check out.

http://www.chartingyourfutures.com/

To date they are up 50-100% depending on account size.

P.S. DON'T SPEND THE PRINCIPAL, ONLY THE MONEY YOU MAKE INVESTING THE PRINCIPAL.

i might supply 10% to my church because of the fact the Bible instructs believers to do. yet i does not hand out funds to easily any church or Christian enterprise. I consistently do my examine and make confident the money is being proper used for God's kingdom. The church I attend somewhat supplies the choice to %. and decide the place you like your cash to pass. it particularly is for the youngster's ministry, the homeless outreach, the indoors city youthful people outreaches, street Evangelism, the church development fund, etc., etc. i might additionally donate to different outreaches, not purely my church.

get a fee-for-service financial advisor. they can ask you about your life goals and then suggest a financial plan. I said fee-for-service because that means they get paid the same no matter what advice they give you. you want to avoid a financial planner who tries to steer you into whatever investments he gets a commission on.

Invest in my businesses first, then buy a new car and house. If there's any left over.

If I had that much money I'd buy a new rear-end, mine has a crack in it.

First and foremost BE SMART ABOUT IT!! THEN INVEST INVEST INVEST!!!