>be me>used to be poorfag>literally used to scrounge pocket change to go to grocery store to buy expired discount items>rich relative i never knew passes away>leaves me with 100k>don't know what to do with the money>quickly understand that even though this is life changing money for some it can be quickly gone in a weekShould I go to an accountant? Any advice from you guys?Hard mode: No crypto
If you can't use that money to generate income, you deserve to be poor.
>>62132978Money needs to be circulated
>>62132972Maybe put some of it in a savings account. High interest accounts can go upto 4-5%.
>>62132991With valuations as high as they are, DCAing the inheritance into SPY is the way to go. And in the meantime, if OP needs pocket money, selling a covered call far OTM is probably better than trying to pull divvies and be subject to distribution schedules. Would require discipline to manage though, so honestly SCHD is not a bad alternative to get some capital appreciation while also having some extra income.
>>62132982Anon, there's something about you that's valuable. Capitalize on it, and use the $100k as seed money. Don't be a dumbass.
>>62133036Sorry I deleted my post because I realized the math was wrong. Reposting with correct figures.>>62132972Buy SPY and hold. You automatically beat 85% of wall street hedge funds, quant funds, etc... and 95% of independent traders. The biggest dump the main index ever did was 80% (the great depression) so you can safely buy with 1.2 leverage (get a margin account and take a $125k position) and get a comfy 15-20% a year for the rest of your life. If you want more you can do 1.5 leverage and will survive crashes like the .com crash and 2007-2008 crash, but in the event of a second great depression you would be liquidated.
>>62132972I'm assuming you don't need to pay taxes on that 100k.Hold your cash, and wait for a stock market crash and buy tech stocks afterwards.
>>62133079Maybe its more like 8%-20%
Put it into either VOO or SPY and let it sit there and make gains. I would recommend waiting for a day where everything drops, but in the long term (a decade or more) it doesn't matter too much. I would recommend also continue putting money into your purchased stock as you are able. You can expect 8-10% gains per year.
OP herejust realizing that even though this is a lot of money and it still isn't make it money and I won't make retirement money until I'm in my late 50's
>>62132972That is what we call a "windfall".Do exactly what you were doing but know that you'll be able to dig yourself out of an emergency fairly easily from hereon out. Spend a little, gamble (invest) a little, but keep most somewhere you can get to it without jumping through hoops or taking harsh penalties. IE none of these long term moneylock retirement scheme/scams.
>>62133079>15-20% a year for the rest of your lifethe past 15y have been exceptionally bullish you will not get 15% for the rest of your life. check 2000 to 2015 for example
>>62132972What are your monthly expenses and income?Having 100k doesn't mean you're not a poor fag, it just means that 100k will get whittled down over time
>>62133318I live in a cockroach infested rundown apartment in the ghetto with my disabled mother paying $650 a monthI have no other debt except the $800 balance on my credit cardI make $3k a month wagecucking
>>62133333>3k a month>still in abject povertyOk we clearly have other problems here. You're gonna spend the 100k on drugs no matter what anyone here says.
>>62133333sounds like a nice setup other than the disabled part. I would invest everything into something save like spy and chill out. you obviously still need to wage cuck but you can start learning to say no at work to certain things.
>>62133345I don't do drugs. I'm just really bad with money and have a bad habit on spending it on dumb shit like takeout, vidya, and other things
>>62132972I put the bulk of my money in an IRA with a 4.5% interest rate. You can probably find better rates than that. Pfizer stock yields 6.24% in dividends, but you run the risk of losing your money due to their volatility. The 'Invesco S&P 500 High Dividend Low Volatility ETF' used to yield 4.65%, but I see the dividend percent was removed. I suggest you look for similar, but keep $45,000+ a $5000 loss buffer for stock to avoid day-trade penalties. Use a paper account somewhere to practice for now. We used to have great profits from memory stocks like Micron and Sandisk, but investors are doing crap with their money way too early these days since the war started, so you'll likely take hefty losses. They took $1600 of my gains like that.
>>62133374>4.5% IRA I... what?
>>62133349I don't believe you. You'd have to be buying a new vidya every week and eating out twice a day to delete 3k.
>>62133374are you seriously suggesting day-trading to someone who has no clue about finance and is spending his salary on takeouts and vidya? fucking insanity I swear to god.
>>62133386I spent 10k alone on a bad investment last year if that helps you see things a bit better but everything also adds up
>>62132972Market will dip next week, buy 18 months dated QQQ calls.
>>62133349Just spend it on stocks this time, then, and move on. At least then you'll have something behind the glass in case of emergency.
>>62133381individual retirement account. But that was an error, it was an annuity. And I meant $25,000. THAT is the minimum to avoid day-trading penalties.>>62133387Yeah? I just barely passed Calculus.
>>62133391Avoid crypto unless you think bitcoin is viable (its really since it relies entirely on a developed electrical system).Divide the 100k into parts. Keep 20k as an emergency fund in a High Yield Savings Account or stable dividends stock you can easily withdraw.Open some kind of retirement account and put about 30-45k in it for later.Invest the other parts. DO NOT panic sell your investments.AND CUT DOWN ON YOUR EXPENSES. If you're confident and keep your job you may be able to afford a down payment on a house AND pay the mortgage afterwards if you have discipline.
>>62133391set aside years of rent for mum. then get degree or cert for higher wagecuck position. throw the remainder into BBBY
What if I invest $3k in Zcash?
>>62133400>And I meant $25,000. THAT is the minimum to avoid day-trading penaltiesnot anymore
>>62133059Only real advice in this thread
>>62132972I would put that into a dividend paying stock for a company that is very safe. For example, senior living. That's what I mostly invest in. There is no shortage of boomers, and they need to be cared for as they become old and senile. Senior living is the answer.
>>62133610Rude
>>62133621No, I meant as this is the real answer I was looking for
>>62133400What is the significance of calculus?
>>62133634Good morning sir how are you
