Hey guys! I posted a while back about investing, I'm going to start hitting this forum hard and learning how to invest. i hate working and would rather sit at home and watch stocks than go to work. haha anyways, 19 years old, inheritance of over $50,000 I'm going to get a copy of the wealthy barber (anyone have a copy to donate to me?) and read that for some help, meanwhile, suggestions? what would you do?

Develop some personal and financial goals?

$50k sounds like a lot when you're 19, and it's certainly a good advantage to move up in life financially - but in the bigger scheme of things, it's not actually that much (ie, won't buy much in property) and is easily spent if not careful.

With what I know now, I would fully fund a roth IRA for this year and set aside 10,000 in an high interest savings account and fully fund next years roth also. That should put you at 5000 in an emergency fund and 2008 and 2009 roths funded in an Mutual fund that has a ten year track record of 12% or higher.

The rest I would put toward a trade school or college education. Do not blow any of this on expensive consumer products or it will go up in smoke. Read also The Total Money Makeover by Dave Ramsey and The Millionaire Next Door.

Use a savings calculator and see what those two roth investments will do in the next forty years, it will blow your mind. Good luck.

I had to do it for you. It will grow to 1,186,000.00. Yes tha'ts One million one hundred eighty-six thousand. Don't be foolish.

19+40=59

What would a sixty year-old do with a million bucks?

Blow it on a souped up vette and drive on real petrol while you still can. They are probably going to run out of oil in 40 years and we will be all running on solar powered scooters...

After all, you only live once and the age of 19 is probably the sweetest time of your life.
So yeah, you'd be a millionaire surrounded by five 20 y-o swimsuit models but let's face it, by then you'd be pretty harmless compared to what you are now

But really, if you asked me, I would invest it in land but not in the USA - where there's plenty of it - but somewhere in the center of a European capital, maybe in the east if you only have 50k.

Your other option is education. Maybe go to Switzerland or Germany so you'd have that "edge" over the people who study in the USA (in some areas, it is helpful to have a more diverse background). You'd have lot's of fun, meet new cultures etc... You'd probably have to work a little to support yourself.

All said, 50k aren't going to let you hit the sofa for the rest of your life but it's a step forward, probably worth a whole year of your life (as in, you are relatively more advanced than people of your age who did not receive 50k).

well i already took your advice, about 4 months ago i received $40,000 and bought a $20,000 truck, $5000 computer $2000 camera and random other stuff, still have some im playing with. but i did that once, now im gona get smart, and do something with it.

Looks like your title was accurate. Who ever you inherited the money from would be proud, not.

Excuse me sir, I'm 19, and I lost my father, his greatest passion was his car, when I decided I wanted to get a nice truck, I know that he would be totally for the idea if he were here today. He's not, so I'm posting to get an idea of what to do with the rest of it. There is no reason for you to post with comments like that, especially when you don't know my situation.

Depending on where you live you might want to buy a condo.

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I would suggest you read "The Total Money Makeover" by Dave Ramsey before anything.

And do practice trading with fake money first.

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-Jesse

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