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I'm expecting a net cash receipt of $300,000 net after

Customer Question
I'm expecting a net...

I'm expecting a net cash receipt of $300,000 net after taxes. 74 yrs old. not going to retire for another two years. how can I get a decent return?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

What else do you need to know? Total income is in the range of 130 to 140 k

Accountant's Assistant: Is there anything else the Accountant should be aware of?

Still making a house payment but bills but otherwise almost debt free. Expect to buy a new home when I reture and will take on a new mortgagethat will take abot $1300/month

Submitted: 8 months ago.Category: Finance
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12/15/2017
Financial Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 8 months ago
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Finance
Satisfied Customers: 2,767
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
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Welcome to JustAnswer!

My name is ***** ***** I will be able to assist you today.

Given what you have shared, I recommend first creating an income distribution plan.

You should create a monthly budget which will include your changing monthly bills (mortgage, utilities, Medicaid Premiums if any, etc..) and how you will pay those bills.

You also want to include all forms of income such as Social Security, if applicable.

___

Once you have established a budget and payment plan, you should set aside approximately six months of payments into a separate low/no risk savings account.

__

After you have a spending strategy in place, savings account funded, then you should look to create an asset allocated investment portfolio that is appropriate for your risk tolerance, financial goals and investment time horizon.

I am happy to answer any additional or follow up questions that you may have!

Thank you

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Financial Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 8 months ago

Hello!

May I assist you with any follow up questions?

If you have no further questions please take a moment to close out the question by accepting my answer by clicking on three stars or more so JustAnswer will credit me for my work.

A positive rating of five stars is always appreciated.

Thank you

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Financial Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 8 months ago

Hello,

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Regards,

Chad CFP ® professional

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Customer reply replied 7 months ago
Chad,
Appreciate the answer, even though it was very vague. To close this off is it possible for you to give me three possible sources on where to open a balanced investment with a portion of this money. I figure I'll net after taxes about $ 275- 300,000. So I'll allocate about $200 to a conservative income producing source and $100 to buying stocks/options generated from my candlestick charts/recommendations from someone like Luis Navelier or Charles Payne.
Financial Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 7 months ago

The answer is vague because I don't know your specific investment goals or time horizon for the money.

Picking the investments is general the next to last step on the financial planning process.

You asked: " how can I get a decent return?"

  • What is a decent return for you?
  • What is your risk tolerance?
  • what do you consider a conservative portfolio?

Do you plan on using mutual funds, ETF's, Managed accounts or separately managed accounts?

Once you establish a budget you would then know how much income your conservative portfolio would need to produce. --This would be my first step.

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