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Where Do I Invest $100,000 And Up For X-Amount Of Time? |
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Submitted by Janeane Carnagie
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Having six figures to play with means you are doing something right, so pat yourself on the back.
Picking your strategy for this size of investment will involve choosing an aggressive strategy over one of steady growth; and that decision depends on how badly you would feel if you lost all of that money over night.
Any of the other strategies provided on my website will be sure to give you a good return as well, so here are a couple of general tips:
First, make sure you divide your money among different investments. You need to remember that FDIC insurance only protects each account up to $100,000, so never have more than that amount in any one bank.
Second, you need to diversify your investments. This amount of money is easily split-up and diversified into many different investments, and you should certainly do this. Check out my explanation of diversification to familiarize yourself with what aspects to look at.
Third, consider employing a professional money manager if you don’t have time to manage it yourself. The worst thing you can do is make investments and not keep track of them. In theory, if you have made this kind of money, you are better off doing what ever it is you do to make money, and letting someone else help manage your money. This doesn’t mean you don’t stay involved, if anything you should be speaking with your manager weekly, if not daily to discuss strategy and performance. Think of them as your employee, not your guru.
Fourth and finally, have a lawyer review any contract for any kind of investment. Make sure they sign off that everything is normal and there are no special cases that could get you in trouble. This is another situation where you should stick to your skills in making and saving money, and let a professionally trained person handle specific areas of protection and management.
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