Getting An Inheritance Soon
I will be getting an inheritance soon. What should I invest it in? I am tithing 20% to a certain ministry that the Lord showed me, but what about the rest? I'm scared because of the economy, don't know what else to do with the rest of the money, any suggestions?
Moderator - Open up a Fidelity account and place your money into a short-term T-Bill money market account. Once the economy is on the rise, then make a decision to invest. Until then, preserve your capital.
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---donna8365 on 3/11/09
Helpful Blog Vote (3)
The question included how to invest. Personally, if more of us had saved money instead of getting into debt, this country would probably be in a lot better shape. Why invest? Just save. The problem is that when you are already counting how to spend something you don't have yet, it probably won't last long anyway.
---SusieB on 3/20/09|
SusieB --- The writer of the question expressed a desire to help other people somehow, with the money.
Just "saving" the money for retirement is fine. But if the funds aren't invested to make some income, inflation will dimish the value...so that by the time retirement comes they will buy only a fraction of their original worth.
---Donna66 on 3/19/09|
Starting in the 1990's, many homes (especially in Florida) were built using drywall (plasterboard) imported from China. The plasterboard from China contains sulphur and is toxic. Many people can no longer live in their homes because it is so toxic. There is also a strong smell like rotten eggs and fireworks.
Beware if someone tries to sell you a house that has alot of fans on and the windows are open.
Spending money today will probably expose you to alot of scams and headaches (BEWARE).
Look up articles on Chinese drywall.
---more_excellent_way on 3/18/09|
Donna....Why do anything with the rest of the money? What about saving a substantial amount for your retirement?
---SusieB on 3/16/09|
What makes you think everyone who has trouble paying a mortgage is worldly and irresponsible?! Christians get laid off, lose jobs, have extraordinary expenses like anyone else. An honest Christian who could help them keep their home and their reputation might be an answer to prayer.
In any case, it was just a suggestion..and it takes very little time.. Donna would have to make her plans prayerfully, whatever they are. (Maybe she IS to help Israel somehow..I couldn't possibly know).
The mortgage business is no "scam". It's an honest legitimate business, and something you can do on your own. Only Banks have made it seem dirty.
---Donna66 on 3/13/09|
Well, I'd say from your profile you can pray and see what God has you do. And this blog can serve Christianet to do a sting op on scammers who in some number "might" show up in your e-box (o: There are worldly people who have gotten themselves foreclosed > I wouldn't say you need to be "rescuing" these so they can just abuse themselves in some other way. The early church did things together, in submission to the approved leaders. "Pure and undefiled religion before God and the Father is this: to visit orphans and widows in their trouble, and to keep onself unspotted from the world." (James 1:29) Real estate, etc. can tie up your time from more important things.
---Bill_bila5659 on 3/13/09|
Alan of UK is correct. Make sure there are no other "heirs". Amazing how people, even from a great distance, may want to make a claim when they hear of someone's death!
Of course, follow the state laws.
As I said, you will need a lawyer if you follow my suggestion...not a financial planner (they are experts in equities,bonds, annuities, income funds, mutual funds etc. that you said you wanted to avoid.) Some also want to sell a certain product because they get a commission.
If you want to save someone's home by buying the mortgage, a simple amortized note should cost little to draw up and a lawyer can protect you from any legal pitfalls.I've done this several times. It's a win-win situation.
---Donna66 on 3/13/09|
The American Bible Society (look on their website and call/phone) can offer guidance with estates (they are simply hoping to be included in your will). Since The Lord gave YOU the money, your responsibility is to use it for yourself/family FIRST, and then "give" if you choose to give willingly/cheerfully (not grudgingly against your desires/better judgement).
It is always humane to give to a war torn community, but do not neglect the financial misfortune of your family and their future...
2 Corinthians 12:14
"for children ought not to lay up for their parents, but parents for their children".
1 Timothy 5:8 is SELF-SERVINGLY taught as a contradiction. Do not forsake your offspring, be Godly.
---more_excellent_way on 3/13/09|
If you want the inheritance then you must take the name, the only saving name of Jesus.
We all want the beauty of the blessing but are we ready to pay the price. The cross is ugly and comes with agony, yet this is what we must bear. If you love God's grace then you must also love His justice. You cannot have one with out the other. When the truth and unity were at odds Jesus always sided with truth because He is the way, the truth and the life and all the deity of the Godhead dwells within him bodily. Jesus is coming soon,very soon. Do not embrace the lie, except the truth that Jesus is fully God and God is one, not three !
---Robert on 3/13/09|
If there was no will, maybe you should be careful not to distribute the money too soon, in case someone pops up from somewhere to make a claim.
If you are investing and not just giving it away, you ought to talk to a financial advisor, who can point out all the options. You can't just rely on ideas given to yuo on a site like thins, where things can't be explained in detail. There would be no need to use him to handle the money.
---alan8566_of_UK on 3/13/09|
If you like real estate and want to help somebody...you could pay off the balance of someone's mortgage when forclosure is imminent.
They get to keep their home and you can let them pay you back with terms they can afford (or no interest if you want to make it a "gift")
The interest on mortgages, even as low as they are now, give a better return than most investments. And the worst case senario? You get the house.It will take a lawyer to draw up the agreement.
The internet has numerous free mortgage calculators that tell you what monthly payments can be paid on any balance, and for how long for any interest rate.
---Donna66 on 3/12/09|
Donna, If you really would like to go with the Real Estate idea and still accomplish your Hopes of helping people struggling financially, it shouldn't be a hard find in this day & time with a little creative thinks to invest in helping other with their Real Estate struggles.
Good Day to You Sister & God Bless
---Shawn_M.T. on 3/12/09|
Donna...People are going hungry in this country and you are considering giving to ministries who support Israel? How about your local food bank?
---SusieB on 3/12/09|
There are some really good ideas here, thank you so very much.
1) The money is NOT in a trust, I am the Executor of the Estate and I have a lawyer.
2)There was no will left, that's why next of kin (me) was appointed Executor of the Estate.
3)I know NOTHING about how to invest in annuities and mutual stocks, are mutual stocks associated with the stock market?
4) I liked the Real Estate idea. I may do that, but I was thinking of helping people who are struggling financially. At least I won't lose the money that way. Oh and it's not enough to hire a financial advisor.
5)Mod- what is a Fidelity account? and what is a T-bill?
6) Do you think giving it ALL to minnistries that are supporting Israel is a good idea?
---donna8365 on 3/12/09|
To give away 20% is very commendable, but maybe you should say "double tithing" since tithe means one-tenth!!!
---pedant on 3/12/09|
Your age will determine where to invest. If you are in your 60's, invest in annuities, if in your 40's, look at mutual funds, below 40, invest in stocks. Any of these are good investments, and you may want a mixture in your portfilio. Each segment has both positive and negative sides to them. This is a good time to buy because you can get in on the down side. You should talk with a stock broker - one that you can trust. It should be a Christian stock broker and one that has been suggested to you by a friend/church member. Would not suggest going through a bank since you may end up paying a double commission.
---wivv on 3/11/09|
We all know when investing, the trick to is to put our investment in a place that is SURE to increase but we can currently 'Buy Low' & later 'Sale High'. At this moment in time, real-estate is the best ticket!
---Shawn_M.T. on 3/11/09|
If The money is in a trust fund, the trust will specify the terms under which the money can be released. These terms are determined by the person who is leaving you the money.
Both you and the trustee, who controls the trust, are legally bound to abide by the conditions.(For example:Sometimes a parent will put money in trust for a child until a certain age when he is deemed responsible enough to handle it wisely) Whatever the case, be grateful for the gift.
Moderator's suggestion is a very good one!
Talk to your banker.
---Donna66 on 3/11/09|
Yes, I would put the money in the ground. Only safe place for it.
---catherine on 3/11/09|
I agree with ---Steven_Andrzejewski. sounds like the perfect plan to me
---a_freind on 3/11/09|
I was supposed to inherit an estate, but the trustee was a family member (most trust funds are stolen by family member schemes).
Check your state "SURROGATE" court (inheritance court) website.
Since you are a beneficiary, the trustee must provide you with a copy of the will, but the details of the trust agreement are USUALLY (some states) kept secret by law. If the will says that you are allowed to collect 5% of the trust every year, find out when.
You might get nothing if you're not careful.
Check with the surrogate court website and get your own lawyer. Get copies of the "ESTATE" (deceased) tax return to find out what property and money are being included in "the estate".
---more_excellent_way on 3/11/09|
One answer comes to mind. Don't count your chickens before they hatch! Talk to a financial adviser if you go get it instead of asking total strangers online.
---SusieB on 3/11/09|
If there is a state insurance agency in your state, check with them to see if there is any life insurance or annuity left in your name (also check with the deceased's bank), you can collect that money right now and pay for your own lawyer (the estate lawyer works for the trustee, not you,...unless there's a special SOLID agreement...not to be trusted).
Do your own "homework" in order to make sure you get a "fair shake".
Talk with the surrogate on the phone and get as much information possible.
If you don't get a lawyer that YOU pay for out of your own bank account, the trustee will feel free to do whatever they like.
---more_excellent_way on 3/11/09|
If the inheritance is in a TRUST, don't get your hopes up. A trust is the most insane thing a person can do with their estate. A "trust" means just that,...that someone is going to be TRUSTED to distribute the money properly.
You will not have the inheritance money available to use as you wish unless the trustee approves of your use of it (or they work out a scheme to STEAL it). If they decide that it's best used to buy (invest) stocks for your future, you have nothing to say about it.
The only recourse you have...TAKE THEM TO COURT (an "out of pocket" expense for you, but not for them).
Trusts are INSANE.
Meanwhile, they can collect a minimum $20,000 a year in management fees from the trust fund.
---more_excellent_way on 3/11/09|
Dear brother or sister in Christ. You asked about investments for your money. First thing I would do is pray that God and God only give you the wisdom and guidance for your investments. Second I would go to where you have a bank account with and get some information on what would be the best to do. If it is a large sum of money, you might need a financial advisor. I hope this points you in the right direction. Above all God is first to ask. He will guide you. Many blessings to you in Jesus name. Your brother in Christ, Steven Andrzejewski
---Steven_Andrzejewski on 3/11/09|