any help would be appreciated im 23 and have at least 30 thousand coming in just wanna do the right thing with it thanks all ..
First do not be in a rush to decide what to do with this money. I also came into a large sum when young and learned the hard way.
1. Never invest in something that you do not understand - buy only investments that make sense to you - avoid complex investments like warrants, real estate investment trusts and tax shelters.
2. Remember that stock brokers make money by selling you something. There are many good honest brokers but not all. If a broker recommends that you switch holdings very often that might not be a good sign. Ask questions until you are sure you understand what is being offered and how you can follow your investments. It is not foolish to ask questions and do not let any embarrassment at being new at this prevent you from doing so.
3. Historically the stock market has done the best over time. This is enough money to start a brokerage account. Select a full service brokerage rather than an online sevice until you are more experienced. Start with a money market account and then consider mutual funds that invest in stocks. Place some of this money in a retirement account such as an IRA. Never cash out your IRA (individual retirement account) or any other retirement account. Stocks rise and fall but overtime they rise.
4. Real estate has not been a strong investment for some time. This is not a liquid investment (it is hard to get your money out if you need it). The only exception is a down payment on a home that you plan to live in for more than five years.
5. You will have to pay taxes on this. Consider using an accountant (Certified Public Accountant) to prepare your taxes instead of a tax service like H.R. Block. This will save you money over time, you will have a advisor who will objectively look after your interests and answer questions throughout the year who has expertise in working with money. Do not use a certified financial planner in this role; they do not have the educational background. Remember everyone pays taxes.
6. If you need legal advice hire a lawyer. A CPA is not a lawyer. As an adult you will need a broker, a CPA and a lawyer whom you trust. You will want a simple will. These people will be invaluable to you and will likely become lifelong friends/advisers to you so meet with several to find someone that you can communicate with. You may not need to meet with these people often but the established relationship is important.
6. Read about how to invest. No one will care as much about your money as you will. Read about Warren Buffett.
Enough the journey - investing is a lot more fun than it sounds right now.
According to me everybody wants a better house with all good settings to live a luxurious life. So if you will invest your money in this way then you can get a better result but it depends upon the real-estate agent or company.
I have also invest my money in this way and also get a good and beautiful property in Berlin, Germany. You can check here to know more: www.gateberlin.com. But my suggestion is to check about back ground of the real-estate company before going to invest.