[sleepkyng]

what's a good website with advice on investing if you have a huge chunk of money?

 

[neil]

It's called PayPal, and my email address is: neil@head-fi.org . But honestly? Go to Sound Money. Don't take one piece of advice.. read, and learn about investment strategy. If this is your first real investment, don't throw it all in some stock that interests you. If it's a huge sum, diversify the investment. But, best advice is just to read more about investing on a site like that. Or, visit a site like Choose To Save, a valuable resource about saving money.

 

[RYCeT]

Read 7 levels of investor

 

[viator122]

I think that if you have a huge chunk of money you will want to speak to a professional financial advisor to help you define your financial goals and plan investments to meet those goals.

 

[wallijonn]

heck, I'll give you some free advice

:

10% cash
25% gold
25% bonds
25% real estate
15% stocks

Finding the right broker is the key, though.

When I had a little chunk of cash I wanted $25k in gold. The broker talked me out of it because there's almost zero commission on it. Gold was then going for under $280 an ounce. Where is it now? $422. I should have just turned around and walked out when he said no.

That broker has since walked off to other pastures and I am now only doing bonds with another broker that has my interests at heart.

 

[RYCeT]

Btw, have you ever read Robert Kiyosaki's book. I highly recommend "Rich dad Poor Dad", "Cashflow Quadrant", "Rich Dad's prophecy". His other books are not really necessary. Personally, IMHO going to Financial advisor is just a waste of time and money. Most of them are not better of than you, unless Warren Buffet willing to be my financial advisor, I won't looking for one.

 

[jjcapurro]

I second the motion for the 'Rich Dad' series. Great reads, and good information. As for where to invest, it really depends on what 'large amount of money' means... if it's 20 grand then your strategy will be MUCH DIFFERENT than if it's 200 grand... and similarly if it's 2 Million then we have a different story yet again. If it's under say 100K I'd say get a good brokerage account, and do whatever makes you feel comfortable (you are young too so you can be a little more risky if your ok with that). If it's more, then IMO (depending on your location's market) income-generating real property (apartment complexes/doctor's offices/etc) is a very good investment, and can also provide income over and above it's apreciation. My parents own several houses a couple apartment complexes & part of a doctor's office and it's been really good for them.

Cheers,
Jeremy

 

[wallijonn]

Quote:

Originally Posted by RYCeT Personally, IMHO going to Financial advisor is just a waste of time and money. Most of them are not better of than you, unless Warren Buffet [is] willing to be my financial advisor...

My guy is a millionaire - he does it for "kicks". Obviously being a millionaire doesn't really mean anything. If however you have a million bucks in cash (and not assets), then that is something different.

It's like my friend who had over $100,000 in some stock. His asset was that it was trading at $100 a share. When it went down to $80 a share he didn't sell. He figured that it would rebound. When it went down to $50 a share he didn't sell. By now he was worrying and was in it for the long haul. By the time it got to $2 a share he wished he had sold it all. I guess he forgot the adage: buy low, sell high.

and tell me that there aren't people who upon employment got recompensed with company stock, only to see it tank. WHat was the name of that big company in Texas that walked out with everyone's money? Or the companies that raided everyone's pensions and left their employees destitute.

What I don't like are all those stock packages where 100 different stocks go into a pool. What do they call 'that'? If you are going to buy stocks buy 5 different ones in totally different sectors.

Hmmm, I think it's time I started listening to my local AM radio financial advisor, again.

btw, I own one or two shares of William Buffet's stock. At $25,000 a share.... I think I own one of his A shares and one of the B shares.

I used to chuckle when guys on the train would cry that their homes lost $40,000 in value. I over heard them say that they bought it for $200,000 and it dropped in value from $400,000 to $360,000. oh, please; spare me.

 

[RYCeT]

Quote:

Originally Posted by wallijonn My guy is a millionaire - he does it for "kicks". Obviously being a millionaire doesn't really mean anything.

That's kind of guy who I will want to have as my financial advisor. It's hard to find that kind of Financial Advisor, who do what he preach, who has been there and done it. IME most of the Financial Advisor I've met are not better than me.

 

[MusicJunkie]

In my opinion the rich dad poor dad guy is a sham. he only makes money off of people foolish enough to buy his books.

MJ

 

[diogenes]

While I do not know of a website, I can recommend finding a personal finance book and doing it yourself.
I used "Personal Finance" by Keown.
Also, you might want to read "Fooled by Randomness."

 

[Edwood]

Yes, Robert Kiyosaki is full of himself.

He got rich off of multi level marketing (Amway) and selling books.

Do some research into his background, he was debunked easily.

Entertaining series of books, I've read quite a few of them.

-Ed

 

[CRESCENDOPOWER]

Quote:

Originally Posted by RYCeT Read 7 levels of investor

Every person on this board should read that link. The facts are right in front of your face!

 

[wallijonn]

I once peeked at an executive's passbook (what we consider a checking account today). Her "balance" was $750,000. hmmm. nice work if you can get it.

 

[KYTGuy]

Ric Edelman (google his name) and Vanguard (the investment company) both are educational...

Vanguard has an online course...Ithink it is available to non-members...