If you had 70k to invest...

[g1ngersmom]

Hello all:

My sister - my "never made more than 25k annually" sister - just got 70k from a personal injury suit (she was hit by a car). She sincerely knows nothing about money, has no money saved, lives paycheck to paycheck, doesn't have a checking account (!!). And while I make a fair amount of money, I've never had that much dough in one lump sum.

I want help her to put some/most away but I'm not sure what the right thing to do is. We're meeting w/ a FA (our cousin) this week, but I would love any/all advice you all would be willing to share. So, this clearly isn't exactly FIRE-related, but I've learned so much on this board, I thought I'd ask for some pearls of wisdom...

Thanks!

Ginger..

[Spanky]

Start from here (Vanguard Planning & Education):
http://flagship5.vanguard.com/VGApp/...t.jsp?gh_sec=n

[unclemick]

Vanguard Target Retirement 2015.

Only 10k or so in her case - but after two husbands, five ex boyfriends - at age 51 a couple of 38F's and a cute face can only go so far.

This year she got the message.

heh heh heh heh

[LEX]

Spanky is on point.

I recieved a $50,000 payment out of a business venture of mine that was truly a wind fall last year. *Here is where I put all of it (I have no short term need for this money) and I plan to just leave it alone for at least ten years.

http://flagship3.vanguard.com/VGApp/...FundIntExt=INT

You can go from CD's to wild eyed speculation at Vegas with windfall money. *I get the impression that you all would tend towards CD's and that balanced funds would be the outer spectrum of risk. *If this money is the biggest single funding she will ever see and she will need to have it as a last ditch cushion to desolation and debt, perhaps a CD is in order. *Nothing wrong with CD's.
8)

[g1ngersmom]

Thanks so much!

[HFWR]

Quote:

Originally Posted by unclemick2 Vanguard Target Retirement 2015. Only 10k or so in her case - but after two husbands, five ex boyfriends - at age 51 a couple of 38F's and a cute face can only go so far. This year she got the message. heh heh heh heh

Better invest in a back brace...