Investment question

[CastAndBlast]

I've met many laymen with much more financial sense than I have "financial planners". I do know a few "financial planners" that are very successful. I know many more successful plumbers, home builders, developers, mechanics, business owners, etc. It cracks me up how someone puts all their financial faith into someone that: a) They don't really know...and b) Probably has a lesser net worth than most of their clients.

This!!!

I follow the advice of those that are doing better than the financial advisors.

With 40k, I would do what Dale advised...spend it on hookers and blow...go out with a bang!

J/K...

I would say you need to figure out how much you want to be involved in this 40k. If you want a hands off approach, you could dump it into land like Jason mentioned or put it into an IRA. If you wanted something with more involvement, you could put it into a rental house, invest in a business, start a business. For example, a friend of mine started a gutter business with less than that. He has a couple other guys do the work. He grew it to about 150k in two years.

Personally, I would dump it into multi-family properties (apartments). However, you would have to get in with a company since you are not accredited.

There is a forum called Bigger Pockets. I would join and do some reading.

[HogHunter34]

Not knocking FP’s but they have a motive...commission, fees. However, friends can provide some reasonable advice and options with an unbiased opinion. Like said above it depends on your personal situation you could generate an emergency fund if it doesn’t exist. Might also pay down any debt especially if high interest rate type. If you are looking more for long term retirement savings, an IRA with Vanguard might be something else to consider

[DirtyDave]

Do you have any debt?

[Acameron52]

Vanguard Roth IRAs are good.

[lilavidhunter]

If you go the Financial Planner route, contact Shane on here.

He’s not far from you. Rules don’t allow these guys to respond on public websites.

[hooligan]

Aggressive growth and growth and income mutual funds

Or I’ve done pretty well with weed stocks lately

[eradicator]

I've met many laymen with much more financial sense than I have "financial planners". I do know a few "financial planners" that are very successful. I know many more successful plumbers, home builders, developers, mechanics, business owners, etc. It cracks me up how someone puts all their financial faith into someone that: a) They don't really know...and b) Probably has a lesser net worth than most of their clients.

Would you invest your money with your plumber, etc?

[curtintex]

Would you invest your money with your plumber, etc?

I’d **** sure invest in my plumber’s business. I’d invest in the things that my plumber was investing in. My plumber has more digits in his net worth than most financial planners. There are good ones, even great ones, but the term
financial planner isn’t a blanket term for Warren Buffett, Jr.[emoji6]


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[eradicator]

I’d **** sure invest in my plumber’s business. I’d invest in the things that my plumber was investing in. My plumber has more digits in his net worth than most financial planners. There are good ones, even great ones, but the term
financial planner isn’t a blanket term for Warren Buffett, Jr.[emoji6]


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Ok, with that being said is your money invested in your plumber or elsewhere?

[curtintex]

Ok, with that being said is your money invested in your plumber or elsewhere?

Many different places, none of which were advised by a financial planner. Commercial real estate, multi family real estate, personal businesses, manufacturing, the market, other’s businesses, hard assets, etc. I’d actually love the opportunity to buy out my plumber. [emoji6]


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[Swampa]

****, haven’t seen you post in a long time. Glad to hear your doing well. No help on investments as mine are usually wrong.


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[hilltop101]

Kind of a loaded question. Depends on your goals, risk tolerance, investment timeline, etc. If you’re not invested in an IRA that’s a good way place to start, but you’re limited to $6k per year, unless it’s a qualified rollover.

[12RingKing]

following the real estate route, you could invest in REITs. Reinvest the dividends and watch it grow. A few of the old timers at work have been investing in funds owned by PIMCO.

I haven’t looked into it much, but there’s tons of funds you could get into. Some pay out monthly some quarterly.

Just an idea of a direction you could go.

[huntmaster]

well I'll be, he's alive. I have not seen you post for awhile. Hope all is goin your way.
I'm along way from being a knowledgeable financial fella. But even though we have done alright with retirement savings the best ROI has been land. But it does not send us a check every month like the other investments do

[Death from Above]

Send Burnadell on here at holler....I am sure he will point you in the right direction. Thats who I would use anyway.

For me, I max out a 403b I am a minister and can retire using it as housing with no tax.
I also have 401K that I max.
Those combined with SS have me set for retirement. My bride has TRS and SS also.
Retirement planning were are good.

Leftovers get invested in a safe medium yield IRA with my kids as beneficiaries...when i am gone they can deal with it.

Good Luck and good to see ya posting.