Ok, you came into a pile of cash.
Now don’t be stupid, that’s what.
Here are the only 6 pieces of investing advice I give to people:
1. Don’t buy annuities.
2. Don’t buy whole life insurance.
3. Don’t buy something you don’t understand.
If your sum of money is anything over a a million dollars or so, hire three people and take them to a two-hour working lunch in a private room.
You should ask:
1. A CPA
2. A tax attorney
3. A fee-only financial planner
Together, they will point you in the right direction.
Investing over five million? Get that group together once a year.
After that, just always be aware of the fees you are paying for a certain investment.
Mutual fund fees, for instance, can vary greatly.