The money is in the bank...but we need to know about financial funds,
accounts and need to talk to a financial advisor.
What's a money market account?

Hi Shirl,

As some of the other posters have already indicated, your brother needs
to spend sometime educating himself on the various investment options
available today and researching an adequete service provider to assist
in facilitating his investment goals.

I advise people in your brother's situation to look for a short term
investment that allows them to preserve the original principle whilst
offering them a modicum of appreciation until he has developed an
understanding on how he wants to "plot and navigate" his long term
financial objectives. Before your brother decides to "let it ride", he
got to spend sometime to understand the game and all the rules.

One possible short term investment vehicle worthy of considering is a
high yield savings/checking account. One of my wholesale lenders
offers a no fee/no minimum high yield account that is currently
yielding 4%. This company uses this investment product to attract
money for their mortgage lending business. You can use your existing
checking/savings account and the investment is secured by FDIC. For
further information, you can search for Emigrant American Dream Savings
Account or visit http://www.emigrant-direct.com/.

There is a bounty of free information on the internet that can assist
in the education process, and finance and family planning professionals
of all sorts that often host seminars meant to educate the general
public on the various options available today.

When your brother compiles his short list of investment ideas to
research, may I suggest that he add "private lending" to the mix.

Good Luck,

Scott Miller
Commercial And Real Estate Lender/Broker

"I've got money, want some?"

www.RealEstate-IQ.com
www.EZMortgageLoanz.com

Miller 49er wrote:
- quote -


He can put the money in short-term (3 month or 6 month, etc.) CD's at
the bank for a safe place while he's figuring out a more permanent home
for it and earn a lot better interest than just a savings account.

Series I savings bonds are very safe and have an attractive total yield
right now, but the money would be locked up for a year that way, and
there is a limit to how many I bonds you can buy in a calendar year --
$30000, I think. The interest is tax differed for up to 30 years, and
the interest is exempt from state and local taxes. But the interest
rate is variable and could drop to about 1% (at which point he could
cash the bonds and move the money elsewhere)

Be careful; don't make any hasty decisions. There are lots of financial
advisors out there that would love to steal some of his money if they
sense that he doesn't know what he's doing.

Best regards,
Bob

Hi Shirl,

For what purpose is he investing? The next house, or
long-term, for his retirement? Something else? Does he know
anything about stocks, mutual funds, bonds, the effects of
inflation eroding the values of one's savings, what his
retirement needs are?

If he's a complete beginner without too much motivation to
teach himself, then he should hire a financial planner. I'm
sure others will offer advice on how to find one. If
possible, in advance of his first meeting with any financial
professional, he should get some idea of what sort of
portfolio allocation is reasonable for his risk tolerance
and timeline. He can experiment with some of the free online
tools I listed at
http://home.earthlink.net/~elle_navorski/id4.html . These
should give him an idea of what to expect from the planner.
If he understands in advance some of this material, he can
save some time and money with the financial professional. He
can also google for sites that introduce a person to
investing.

Disclaimer: I am a DIY-er of 20+years.

"Miller 49er" <Miller49[at]webtv.net> wrote
- quote -

Hi Shirl.
To start with, a bank usually has FDIC insurance to cover every
account up to $100,000 dollars, so if your brother has more than
that, he can spread it around to enough banks to get it all covered.
It is probably critical that your brother get a beginning education
in investing. Otherwise he is like a lamb among predators, with lots
of people ready to give advice to get his money.
*He should not invest anything* until he understands the fees and
costs (some of which will be hidden as much as they can).
Feel free to ask here about any given investment. First we must
know more about your brother. What are his plans for this money,
and his plans for life. What other money and assets does he have?
The *long-term* risk of keeping it in the bank is that it may never
grow enough.
Say more about your brother. Does he own a house? Mortgage?
Kids?
Joe Weinstein

"Miller 49er" <Miller49[at]webtv.net> wrote in message
news:29053-43A10D75-88[at]storefull-3214.bay.webtv.net...
- quote -

There is no "safe" -- there is only: "There is risk, but
am I comfortable with the expected return for the
risk(s) assumed?)

"Safe" is relative to what you can handle, risk-wise. Everything
has risk, including not investing at all. Are you AOK with the
risk or not? Not: Is it safe?

Hello,
My name is Shirl and my brother just sold his house.

He needs to talk to someone about trying to invest his money and how to
keep it safe. (the pros and cons of keeping it in a bank)
Any ideas or sites you can direct us too.
He needs to invest also

Thanks in advance.

Shirl