Life Insurance Payout

[Anonymous]

My spouse passed away 8 years ago and I received a $800,000 life insurance payout. The money has been sitting in my bank account (money market). I do not know anything about investing and I'm worried about being taken advantage of by someone who will notice that I'm not very familiar with the market. I realize that I'm losing money every day because the small interest rate is not keeping up with inflation. My home is paid off and I have a steady job and I have other savings that I have been using for repairs etc. What would be the first step to make sure that I can grow the money for my children?

[Anonymous]

You should be investing half of it in other currencies. The dollar is only going to get weaker.

[Anonymous]

Anonymous wrote:You should be investing half of it in other currencies. The dollar is only going to get weaker.

OP, please don't take this person's advice. You should have exposure to foreign equities, but not half, and not in currency.

[Anonymous]

You should seek out a qualified investment adviser. You won’t find that here on DCUM.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You should be investing half of it in other currencies. The dollar is only going to get weaker.

OP, please don't take this person's advice. You should have exposure to foreign equities, but not half, and not in currency.

Yes, I understand. I would not take this advice. I guess, I'm looking for sound financial advice etc. I made an appointment with Fidelity for the first time next week. I feel nervous, but it is a start.

[Anonymous]

OP

The dollar is crashing

That is the reality as is the economy

Fidelity is not the place to go

[Anonymous]

Wow OP had you put that money in the S&P 500 fund and let it sit it would be worth $1.5 million right now. What a mistake.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You should be investing half of it in other currencies. The dollar is only going to get weaker.

OP, please don't take this person's advice. You should have exposure to foreign equities, but not half, and not in currency.

Yes, I understand. I would not take this advice. I guess, I'm looking for sound financial advice etc. I made an appointment with Fidelity for the first time next week. I feel nervous, but it is a start.

My advice is to read this before your meeting:

https://www.bogleheads.org/wiki/Managing_a_windfall

[Anonymous]

All in on bitcoin