hi Jow Forums, i have came into having 1 million dollars (after taxes) from selling my business (dont ask pls), and i dont really know what to do with it because ive never had this much money before. i talked to a preferential at a bank and she said they have cds at 9 months for 2.9%, a money market for 2.95% apy. Am I smart if I put all 1 million into these? or am i stupid and there is something better.
and for you crypto shitposter, i have 25k link already. i will ride or die desu, though i got them at .06c a piece so it's not a heavy loss if i lose them.
i put bottom text so you wouldn't recommend crypto nerd.
Jason Wood
at least get a 100k Link stack to escape beeing a Linklet
Jonathan Richardson
>investing 40k for the eoy top NO CRYPTO SUGGESTIONS ASSHOLES.
Evan Phillips
serious answer since you're obviously completely incompetent and need someone to manage it for you: just put it all in wealthfront. also would recommend maxing out your (Roth, if applicable) IRA contributions every year from here on out since you can withdraw the proceeds at retirement age tax free. max contrib is like 5500/yr so do it every year from now on.
Carson Howard
>Am I smart if I put all 1 million into these? or am i stupid and there is something better. There is always something better, except we don't know it in advance. The higher the potential for profit, the higher the risk of loss.
As a very basic rule for all kinds of financial decisions: Only invest in stuff you understand at least on a basic level. If you just blindly throw money at stuff some dude on a Bangladeshian Pottery Blog like Jow Forums recommended or that your financial planner advises, you will in the long run not be happy with it.
Read up on what is out there, how bonds, stocks, ETFs, etc. work. Do some soul searching and analyze your risk profile and what your goals are, what kinds of returns you want and what kinds of losses you would be able to stomach, whether you need regular pay-outs or just growth, and what your over-all timeframe is. Then make a few solid investments. Never put all your eggs into one basket, but also don't spread it paper thin on a thousand things you lose track of. Consider the cost-averaging effect and spread your investments into multiple chunks every few months.
Personally I prefer long-term investments into ETFs to participate in the general upward trend of stock markets while keeping fees and risk low. Your milage may vary.
