How to reinvest capital gains
I’m selling a house and will be receiving about $75,000 back after paying off the mortgage. I would like to give $15k to my child to invest (ie. house, education, or 401k). Help! What is the best way for us to invest our funds?
Terry Says
Wait, wait, wait! I don’t know enough about your situation to answer — but first put ALL the money in the bank. And don’t give ANYTHING away. And tell anyone who asks for money, that I insist you wait 6 months before doing anything with this cash!!
This is not a taxable amount — it is your new nestegg.
If you want to write back with more details of your life, I can make some specific recommendations (I won’t publish that part), but don’t be in a hurry to give any money away!!!
