Recommend your financial planner
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Anonymous
| Have had good success with Learnvest. |
Anonymous
I don't exactly understand the question and I don't have any advice beyond what I stated above or what others have stated. The manage fees for vanguard financial products are about the best and they are safe. So if you or your relative wants to be a lifelong worker bee who puts money away for retirement that is a perfectly valid option. However, for individuals who desire to one day be wealthy capitalists you really have to be part of the process. Clearly an individual cannot be foolish with their money, so you can't just throw it around. But, for people who are engaged in all of the aspects of their lives opportunities to accumulate significant wealth occur from time-to-time. However, if you are not an engaged investor you'll never see these opportunities because you are not looking. If you are not engaged in your own investments you'd never see an opportunity if it slapped you in the face. Once a week I tell people buy a basket of dividend yielding stocks from the list of dividend champions and achievers. I won't tell you which companies to buy because it must be your decision. Reinvest the dividends and watch your wealth grow. By going through this process, just through time, experience, and essentially through osmosis you will learn to be a successful investor while your money is collecting dividends in relatively safe stocks. You'll be diversified so if one or two did crash and burn the other 28 would be fine and your wealth will not be crushed. As time passes you'll learn how stocks are valued and you'll be able to spot tends and opportunities that others may be overlooking. Those will be your opportunities for extraordinary gains. But, please do not give your money to a family member, a trusted friend, or a money manager. Even well intentioned money managers make mistakes. The way most of these Ponzi schemes begin is with money managers promising certain returns. When they fall short they start manipulating the books believing the can make it all up at a later date. They fall into a trap and you do too. Buy a basket of 30 dividend yielding stocks paying at least 3% annual yield and have done do for at least a decade. Don't chase tech stocks like Apple, because as good as they seem today, as a long term investment they are only as good as their next product cycle. As you become a more sophisticated investor companies like Apple may for some reason maybe good trades on dips or some other reasons , but for now just stick with the dividend champions. In time your investing sophistication will grow and opportunities to generate great wealth will avail themselves to you if you are an engaged investor. You can do this!!! This is not rocket science. You too can become a wealthy capitalist. |
Anonymous
$250K is a lot of money, but it's not enough to create a healthy, diversified portfolio of individual stocks, even if people (professionals or not) were able to do a better-than-average job of picking them, which almost no one is. Tell your relative to be a boglehead. |