3 ms·
This is full of bad or not helpful advice. > Lots of advice to put your money in the stock market. Have you seen the stock market this year? Investing a large
by joshmlewis 8y ago
This is full of bad or not helpful advice.
> Lots of advice to put your money in the stock market. Have you seen the stock market this year?
Investing a large sum in the stock market like this is not meant to make quick money, it's for the long term. If you invest in funds that follow the S&P500 it's statistically going to bring solid returns over the long term. This will allow you draw a salary from the returns keeping the principle intact.
> Invest in real estate, invest in businesses.
Investing in real estate and businesses should be a small piece or even hobby until you really get a grasp on it. It's an easy way to lose a lot of money.
> The latter, as you now know, can create much more wealth than the stock market.
It can but again great reward = great risk. Angel investing is a full time job in itself and unless you have the right connections with the best companies it's very difficult to do the right deals where the 10x returns happen.
> Hiring an advisor could be a good idea - but make sure you know their fees.
Not just know their fees but make sure it's a fiduciary and not just a broker. A fiduciary advisor is legally obligated to put your best interest first.