Hi Reddit! I’ve always been pretty good with saving/managing my money, but I know nothing about investing. Sometime over the next 6 months I am going to make ~ $8 million from selling real estate I inherited overseas. I’m looking for some guidance on what I should do with it; more specifically, how I should invest it. My current situation: I’m married and have two young kids (3yo and 1yo). I earn $200k/annually, have $100k in savings, and a 401K. I’m currently renting and have an average monthly expenditure of ~ $4,500/month (this covers rent, car, utilities, food etc.). The rest goes into savings. In terms of debt, I have a $20k car loan, and $25k in student loans. I am looking to buy a house sometime in the next 1.5 years. I’m covered for $150k life insurance by my employer, and additionally have a $2.5 million life insurance policy on my name, and $1.5 million on my wife. This life/disability insurance was setup with a financial advisor, and I have mentioned to him that I have assets incoming but haven’t gotten into details. He’s a nice guy but seems more like an insurance salesman than an advisor. I don’t want to go into this blind, so I’m looking to educate myself. Should I invest in real-estate? Stocks? Bonds? Index Funds? How do I even go about it? Should I get a broker? Talk to an advisor/consultant from a wealth management firm? Talk to a tax attorney? Should I talk to my bank? Any guidance you can provide to help me learn would be enormously appreciated. Thanks!
Submitted June 29, 2018 at 11:35AM by Reclaimer_09 https://ift.tt/2ICfJzA
