A common question from readers is, “Where should I put my money?” Whether it’s an inheritance, or money saved up over time, people new to having a relatively large sum of money often aren’t sure where to invest that money. Below is an example question from a woman in her 50’s and my response of where she should put her money for retirement and beyond. Though the answer can differ, here are the 4 best places that smart people put their extra money.
Shawn,I won’t go into details here, but I moved my 401K to Stronghold last December and it was a nightmare. I too read Tony’s book and was fired up to do something and that’s what I did. Thankfully, the operation manager at SH cleaned up the mess, but since then I’ve left things alone for the most part.(Can I just say here that this [investing] stuff terrifies me?)I just received an estate inheritance, taxes have been paid and I need to invest it now. It’s been sitting in my Money Management account with my credit union, but that’s not wise for much longer. I’ve contributed what I can into my IRA for 2015, same for my HSA, and my plan was to put the rest into my SH investment account. I just read your posts and am thinking that Axos Invest may be a better bet. Given my age [in my 50’s], the 45% Stock/ 55% Bond mix makes sense. Also given the difficulty of interactions with Stronghold, I’d like this process to be easier.Should I put the money into Axos Invest?Your thoughts on next steps would be greatly appreciated.VERY grateful to have come across your blog, in any event, thank you very much Shawn! Sounds like you’ve crafted a lovely life for yourself!Wishing you continued happiness and success.Sincerely,R