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Originally posted by leo28
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Hi,
I am new here but Im sure I will be spending a lot of time on this website and forum. I am 28yrs old and have spent the last half of my life outside the US. Now I am back and I have accumulated about 900k US in my time abroad along. I am also going to soon become a father
. Even though my time abroad has brought be great experience and wealth, the disadvantage of having spent my adult life in a foreign country is that I missed out on fundamental rules and regulations of living in the US. I am not familiar with the various investment vehicles available to me as a US citizen, I am not familiar with US taxes either and know no one with my new worth that I can go to for advice. I do have an accountant working on tax related matters for me though.
As of now I am looking for a safe way to invest this money, After spending a few weeks online and visiting various wealth management advisors in my area I am left confused with what to do with my 900k and leaning towards investing it myself. It's money that I don't need for the next 3 - 5 years and I really don't want to be taking any risk with it for this period of time, which I think according to my research leaves me with just CDs? Although all the advisors in my area are persuading me against CD's and would prefer me to invest in bond mutual funds, claiming them to be just as safe in the long term with higher yields.
I am here for advice and suggestions from people wiser and more seasoned then me in the investment world, I hope to gain advice from you that could gently ease me into the scary investing world that is currently unfolding before me. I hope to get advice on things like where and how to get started? What should be my priorities coming back to the US regarding this money? How difficult will it be to manage my own investments? Can they all be manged from one platform, say for instance I go for a CD ladder spread across various banks, is there a single platform that I can monitor and manage it all from?
Please let me know if you require any additional information about my situation.
Thank you for your time and consideration.
Respectfully,
Leo
I am new here but Im sure I will be spending a lot of time on this website and forum. I am 28yrs old and have spent the last half of my life outside the US. Now I am back and I have accumulated about 900k US in my time abroad along. I am also going to soon become a father
. Even though my time abroad has brought be great experience and wealth, the disadvantage of having spent my adult life in a foreign country is that I missed out on fundamental rules and regulations of living in the US. I am not familiar with the various investment vehicles available to me as a US citizen, I am not familiar with US taxes either and know no one with my new worth that I can go to for advice. I do have an accountant working on tax related matters for me though.As of now I am looking for a safe way to invest this money, After spending a few weeks online and visiting various wealth management advisors in my area I am left confused with what to do with my 900k and leaning towards investing it myself. It's money that I don't need for the next 3 - 5 years and I really don't want to be taking any risk with it for this period of time, which I think according to my research leaves me with just CDs? Although all the advisors in my area are persuading me against CD's and would prefer me to invest in bond mutual funds, claiming them to be just as safe in the long term with higher yields.
I am here for advice and suggestions from people wiser and more seasoned then me in the investment world, I hope to gain advice from you that could gently ease me into the scary investing world that is currently unfolding before me. I hope to get advice on things like where and how to get started? What should be my priorities coming back to the US regarding this money? How difficult will it be to manage my own investments? Can they all be manged from one platform, say for instance I go for a CD ladder spread across various banks, is there a single platform that I can monitor and manage it all from?
Please let me know if you require any additional information about my situation.
Thank you for your time and consideration.
Respectfully,
Leo
Meanwhile, park your money someplace safe (which means more than one bank to stay under FDIC limits). Look at online banks and CDs as well as local banks to get the best rates you can.
I also think you should be reading up on FIRE (financially independent, retired early). Even if you aren't interested in the retired early part, you are interested in the financially independent part.
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