Fantasm
Recycles dryer sheets
Hi,
I'm a young (23) professional that is earning a decent income. In about 6 weeks, I will have $300K saved up. I am lost as to what I should be doing with the money I earn every month. Prior years I've spent (wasted) a lot on high line cars, toys, and other things that I have nothing to show for.
I tried speaking with Charles Schwab and they really didn't inspire any confidence in me (the local office at least) in that they would be able to manage my funds for me. My occupation keeps me busy and I don't have the time to learn and research investment options and opportunities so I need someone to handle it for me and make it hands-off on my part.
At least thats what I think my next step should be ... investing in the market (bonds, stocks, preferred shares with dividends, mutual funds, etc).
$15K of that $300K is in FPL (Florida Power & Light) Preferred Shares with 8.75% yield, and I wish I had bought more at the time as it has also increased in share value, but just getting 8.75% from a relatively safe (IMO) corp. would be better than earning <1% from the bank its sitting in now. I am currently able to save about $20K-$30K per month (depending on my spending, but if I really stop being a dumb@ss, I can for sure do at least $30K).
I have a problem where I get bored of things really quickly, and am always go go go, so because my money isn't making me any real sort of return right now, I am always looking for the next new thing to happen, which ends up being in the form of spending it.
I've asked on other forums, I've asked people in real life, and I'm still confused. The way the markets (all industries) are now a days, nothing really good is going on that I know of to put the money in, etc.
I am adverse to locking the money away for the long term as I want to see it getting immediate returns which always leads me back to the thoughts of investing in my own businesses ideas or angel investing as those are the fastest and largest methods of earning a return.
Not sure, just confused, frustrated and ranting.
I'm a young (23) professional that is earning a decent income. In about 6 weeks, I will have $300K saved up. I am lost as to what I should be doing with the money I earn every month. Prior years I've spent (wasted) a lot on high line cars, toys, and other things that I have nothing to show for.
I tried speaking with Charles Schwab and they really didn't inspire any confidence in me (the local office at least) in that they would be able to manage my funds for me. My occupation keeps me busy and I don't have the time to learn and research investment options and opportunities so I need someone to handle it for me and make it hands-off on my part.
At least thats what I think my next step should be ... investing in the market (bonds, stocks, preferred shares with dividends, mutual funds, etc).
$15K of that $300K is in FPL (Florida Power & Light) Preferred Shares with 8.75% yield, and I wish I had bought more at the time as it has also increased in share value, but just getting 8.75% from a relatively safe (IMO) corp. would be better than earning <1% from the bank its sitting in now. I am currently able to save about $20K-$30K per month (depending on my spending, but if I really stop being a dumb@ss, I can for sure do at least $30K).
I have a problem where I get bored of things really quickly, and am always go go go, so because my money isn't making me any real sort of return right now, I am always looking for the next new thing to happen, which ends up being in the form of spending it.
I've asked on other forums, I've asked people in real life, and I'm still confused. The way the markets (all industries) are now a days, nothing really good is going on that I know of to put the money in, etc.
I am adverse to locking the money away for the long term as I want to see it getting immediate returns which always leads me back to the thoughts of investing in my own businesses ideas or angel investing as those are the fastest and largest methods of earning a return.
Not sure, just confused, frustrated and ranting.