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re: Coming into a small inheritance.. what to do with it? UpDated
Posted on 11/29/14 at 3:10 pm to bayoubengals88
Posted on 11/29/14 at 3:10 pm to bayoubengals88
I've done small stocks in the past, mainly things that were considered "safe" and where I could cash out with a small return.
If I did something now it would be about a 5-7k investment. Which is a lot larger than the 500-1000 I was doing before.
If I did something now it would be about a 5-7k investment. Which is a lot larger than the 500-1000 I was doing before.
2
Posted on 11/29/14 at 3:15 pm to tduecen
quote:
I've done small stocks in the past, mainly things that were considered "safe" and where I could cash out with a small return.
Knowing this, I'd use a couple thousand to take advantage of the low oil prices (USO, OIL, DBO). It might be a while, but you'll make a good profit.
Max out your Roth with the rest if you have room to max it out.
Start a fully funded Roth if you don't have one.
This post was edited on 11/29/14 at 3:16 pm
Posted on 11/29/14 at 3:18 pm to tduecen
I think it also depends on your current financial situation.
Do you save monthly? 401k? Roth IRA? Taxable account? Emergency fund?
Also, does paying off cc and car free up a monthly cash flow you could use for those things?
As long as you won't go blowing the extra "free money" by paying those bills, I'd likely use at least some of that for a vacation/experience. But that's all about your financial discipline.
Do you save monthly? 401k? Roth IRA? Taxable account? Emergency fund?
Also, does paying off cc and car free up a monthly cash flow you could use for those things?
As long as you won't go blowing the extra "free money" by paying those bills, I'd likely use at least some of that for a vacation/experience. But that's all about your financial discipline.
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