Ask Terry Questions Investing a large sum of money

Investing a large sum of money

By Terry Savage on June 17, 2024 | Financial Planning / Retirement

Hi Terry,
We will be receiving a large sum of money soon. In the area of 600,000.00. I am wondering what is the best way to invest that money? Dollar cost average? Over what period of time? Bonds? Short term CD’s until we dollar cost average this in the market? We are 60 and 65 and financially secure and our home is paid off. No debt. Thank you for any guidance.

Terry Says

This is too significant a decision to answer in a blog post.  YOu now need some sophisticated –and trusted — financial planning advice.  It’s not only about investments, but now you should change your estate plan (creating a revocable living trust in advance of receiving the money) so you can initially put it in Treasury bills in an account titled in your trust — watch this:

Then read this to get started when you get the money: T-Bills beat CDs – Terry Savage

Since the amount will be above the “insured level” you’ll want to purchase T-bills initially, and hopefully in the name of your revocable living trust.

Then it’s time to find a fee-only (no commissions, not AUM “assets under management”) FIDUCIARY financial advisor.  You should start that process now.  Read this: Pam Krueger Wealthramp – Terry Savage



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