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originally posted by: FlyingFox
Hello and yes, I've waited a long while to ask ATS about investing. I recently inherited a bunch of money and don't know how to proceed best.
Coming up on 2018, we have a 9000 pound gorilla in the room... Bitcoin
Aside from a general discussion on Bitcoin, I'm wondering about advice specific to my situation. Also, I'm not relying on "Botcoin" by any means. just that it exists.
Of course a financial advisor is a good idea, I don't want to be flat-footed when I meet with someone here in the near future.
Ok, I have a few 1000 shares of Verizon, and they were acquired cheaply. So, is it advisable to keep VZN just for the dividends? Maybe sell some every year to adjust my capital gains....? I have zero tax experience, only ever had a few rental properties that were mostly cash.
Aside from Verizon, mom had a guy at Oppenheimer managing a few $100k of investments, many "tax free". I'm pretty happy and comfortable with him, he already mentioned adjusting the portfolio toward being less conservative. I don't want to be tied to the stock market for income, nor do I want much risk. Is there anything I should ask him for or about? He says 4-5% a year is about the effective rate of gain. I think that's pretty good, but....
Even if I made no changes to those accounts, I have a sale of her home under agreement for about a month from now, Dec 27th. That's a lot of cash, and I should have a plan on what to do with it. I could try to buy a bit of real estate, like a vacation home. I have a bunch of modest places already, not looking to do anything in that dept, but I could. What do I do, convert it to physical gold, $.5MM ??? I'm serious, people. imo, the Bitcoin ship has already sailed. no way would I be buying at this point. I have a few bits of Etherium....nothing really.
How would this group avoid global meltdown? I have more than enough exposure to stocks and brokerage type investments. I'm looking for serious ideas, not just "buy .223 ammo" or whatever.....unless you think so????