I am coming into a chunk of money... about $20,000+. Any suggestions on how to best invest this money?

I am recovering from a messy divorce that has left me with bad credit, no retirement money and depleted savings. I am 38 and need to get back onto my feet soon. I live in San Diego Ca, where the median family home is about $560,000. Should I do a buckets of money thing for retirement, get into a REIT, CD etc or invest in an out of state investment property (if so where). Please give me some advice

First, you need to set asside about 3 months of income for emergencies. If your savings are low you need to set aside this amount of money incase anything throws you off your course (getting laid off, serious car wreck, etc.). I would place it in a seperate savings account that I wouldn't be able to touch. You need that much money "just in case".

Next, I would examine what your 5 & 10 year plans are. If you need to move into a home that you want to purchase in the next year, then you may want to keep that money liquid.

While you stated what the median income is for your area I don't have a good idea of what you make. I could give you more concrete answers with that information. And even if you did, I would still recomend seeing a financial advisor to make sure you have adequate insurance, etc.

Best of luck.

Give it to me and I'll get back to you on it.

hey give me some money

2,000,000,000 bouncy balls

You would be best if you talk to a finanical advisor, explain your situation, and he will do what's best.

Get a brick and hit the strip

put all your money on black

do wat u want with the money and spend it on what every u want

is little bit of money, i make that in one 2-3 job of seting tile, i have 30 thousand in bank and not know what to do too cause too litle money

well i would invest on a down payment on a home and then consider some in the bank and like 100 dollars to me lol just kdding you should really invest on a down payment on a home or buy a new car or something and or college

Honey, you can invest it on me....;) and get off that crazy piece of earth that is about to fall off the continent...Come visit the east coast to get away from the Mess!

Good luck!

XOXOXOX!!

deposit in bank first,and dont touch ,work regularily and build good credit and within time get a house of your won with good mortgage ,dont try investing its a risky chance

Boy oh boy did you just open yourself up to a bunch of replies from scammers. Hope you don't fall for any of them. Personally I would make a payment on a home.

good lord....$56000.00 would buy you a mansion and land out here in houston texas.
I bought a brand new 1800 sq foot house on a quarter acre in a nice neighboorhood for 130k. I would invest it down here in some property, maybe a rent house or somethign like that. property around houston is going nuts...(in one year my house has jumped up 20k in value)

Right now, I would suggest investing in the stock market, make some good money (talk to a good financial advisor), be somewhat aggressive, and in the next two years, invest in housing/property. By that time, real estate should have recovered.

If you can afford to live without it invest it in a Life insurance policy. Over time the poilcy incures about 9-12% intrest per year. This is better than any bank or CD. Over about 9 years your money double. Not only does it take care of your family God forbid something happen to you but it is a tax free shelter. At a certain age you can start to borrow against the poilcy without penelty or taxation from the government.

Move to an area in the U.S. where $20,000 goes farther than San Diego. If that is all you have it won't buy much as far as investments go. Use it for some debts, a better car, put it in savings for a rainy day.

Man, anyone serious is going to need some more info to give you good advice:

- What are your investment goals, in terms more specific than 'getting back onto my feet soon'? Income? Capital growth?
- What's your time horizon?
- What's your risk tolerance?
- How liquid do you want this to be?
- What are your current income and debt levels?
- Do you already own a home?

Without that info, everything from "plunk it into a CD" to "go to Vegas and put it all on "black" are all reasonable options...

Sorry I couldn't be more help, but there's no such thing as a sure investment, and certainly no single "no brainer" without more info.

Sorry about the messy divorce. Best to you.

The answer from Timothy W is the most solid here. I would personally seek advice from a financial advisor. My financial advisor gave me a "test" -- it was a short question & answer survey of my financial tolerances and it was an excellent education for me. I was able to determine how best to save/invest my money and that sort of thing. I found my financial advisor through my bank -- where I have a checking and savings account. He does not cost me anything, and his advice is paying off. Good luck to you!

Speak to a financial advisor....It all depends on your risks you want to take, your income, your tax planning, your standard of living, what age and what level of income you'd like to retire at, if you plan on having children....there are many factors you need to consider. And there is no one answer for all...if you come across someone with one it's apparent they have no idea of finances.

I work in a CPA firm and you can also speak to a CPA regarding what would be best. The firm I work in handles investments, business management, and tax services. (I work in one of the nations most reputable companies).

Find the best paying job any where, move there and then use your money as deposit to buy some property to live in.

Then save like mad to pay it off and build up some pension income for the future. It will be best if the property has a spare bed room for letting for extra income.

move out of san diego would be my best advice. sorry, you cant afford to live there in your situation right now.

I suggest you to open a brokerage account at TD Ameritrade or E*Trade and then drop me a line if you need more detailed FREE Financial Help.

Top 4 Answerer.

Well you are already close to mexico if you speak spanish and know anything about construction small project housing which the goverment will buy from you or you can sell on your own cost anywhere from 18-22k to build and sells for 28-35k becuase the goverment supports the poor in buying these cheap houses they usually sell just about as fast as it takes to build them , and the border towns are growing steadily so you could do this over and over and over again if your only doing it right across the border you can stay in your house and not incur extra expences

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