(Closed) Best way to invest large chunks of money?

posted 6 years ago in Home
Post # 3
507 posts
Busy bee
  • Wedding: August 2013

Will you need that money before retirement?  Will it be needed to purchase a house later on?

We just got a large chunk of money and opened an annuity with it.  We are going to put the money into mutual funds, which are a little less risky than individual stocks IMO.  But this only works if you don’t need the money before retirement.

I have a rental (not by choice…but because I couldn’t sell my house when I relocated for a job).  While I like having it and things were great for 18 months, my renter just moved out and now I have to do a lot of cleaning and painting.  Rentals can be very risky, especially if you don’t get a good renter, and a lot of work.  I don’t think I would take a big chunk of money and buy a house for the sole purpose of renting it out.

If you do need that money to re-purchase a house later on, I’d probably just find a high yield bank account and let it sit there.  I have a great checking account that I make 2.5-3% return on.

Post # 4
47209 posts
Honey Beekeeper
  • Wedding: November 1999

@UK Bride:  See a professsional financial advisor.

Post # 5
12246 posts
Sugar Beekeeper
  • Wedding: May 2013

I’d probably stick it in slow-growth funds. But if you can find an amazing savings like PP, I’d do that!

Post # 6
519 posts
Busy bee
  • Wedding: October 2014

If you are looking for stability (even with low return) look into government investments or high interest savings accounts. I would recommend going in and speaking to a banker as they will have a better idea of which investments are best for you. The stock market is usually best for those who are looking for very long term and diversification across different industries reduces your risks.

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