I’m disabled & received $10K settlement where best to invest?
Dave C asked:
I’m disabled with 4 back surgeries. I just received disability and got a back due settlement of $10K. I have NO investments. I’m 46. My Wife works and can start putting into a matched 401K in October. I want to put the money in a growth investment and not touch it. Is a Vanguard or similar mid risk fund a good option? Right now it’s just sitting in a low interest savings account for safe keeping. This is a lot of money for me, because I lost my business due to my health and will likely never work again. I need to make a smart investment. I’m open to any and all ideas. Thanks, Dave
Using the “Dave Ramsey” money book as a guide, we will have a $2000 liquid rainy day fund. We need growth because before my back surgery my Wife and I owned our own business, a Photography Studio, for 15 years. We put all of our money into that, plus my surgeries and paying for our own health insurance didn’t allow for any investment / retirement fund. So with me at 46, and my Wife at 41, we have a lot of catching up to do. Our only child is out on her own, we have no debt ( we paid it all down with payments plans over 7 years ) but we also have no equity. When we lost the business, we lost out apartment and moved in with my Wife’s Mom. We use a budget and have lived an extremely frugal life style for the past 17 years. My mother-in-law has a huge home and lost her husband 3 years ago, so living with her is working out for both of us. When we buy we want a townhouse or something else that doesn’t require me to maintain it, my back won’t allow it. Just some additional information.
Rodney Sypolt
I’m disabled with 4 back surgeries. I just received disability and got a back due settlement of $10K. I have NO investments. I’m 46. My Wife works and can start putting into a matched 401K in October. I want to put the money in a growth investment and not touch it. Is a Vanguard or similar mid risk fund a good option? Right now it’s just sitting in a low interest savings account for safe keeping. This is a lot of money for me, because I lost my business due to my health and will likely never work again. I need to make a smart investment. I’m open to any and all ideas. Thanks, Dave
Using the “Dave Ramsey” money book as a guide, we will have a $2000 liquid rainy day fund. We need growth because before my back surgery my Wife and I owned our own business, a Photography Studio, for 15 years. We put all of our money into that, plus my surgeries and paying for our own health insurance didn’t allow for any investment / retirement fund. So with me at 46, and my Wife at 41, we have a lot of catching up to do. Our only child is out on her own, we have no debt ( we paid it all down with payments plans over 7 years ) but we also have no equity. When we lost the business, we lost out apartment and moved in with my Wife’s Mom. We use a budget and have lived an extremely frugal life style for the past 17 years. My mother-in-law has a huge home and lost her husband 3 years ago, so living with her is working out for both of us. When we buy we want a townhouse or something else that doesn’t require me to maintain it, my back won’t allow it. Just some additional information.
Rodney Sypolt
An emergency fund could be in high yield savings account such as emigrantdirectcom or ingdirectcom the last thing you need is to have your money most.
The money invested in stocks that may be in high yield savings account such as an emergency fund and run tight budget based on your wifes income the money most.
really sorry to hear that you are getting this 10k from a settlement. Can i ask if you can operate a computer?
If you can, I would suggest you to invest a part of the investment into vanguard and a part into forex. Trading safely i think you can make enough to lead a very good lifestyle and the investment you do in vanguard can be used for long term purposes.
But before you decide on forex, please study the field and also consult a couple of traders. There are a lot of companies who offer the forex trading portal if in case you dedide to do so.
An investment in less than 10 months later for information email mikeervyahoocom.