1.For current spending as ur godfather wanted u also to enjoy life.
2.for ur future
make investments which gives u returns or capital+ returns .periodically i.e at the age of 20,25,30,35 so on.If u plan to invest in housing property at the age of 25 or 30,make sure the amount u receive at this point is higher.
3.for kids
it depends on the no of kids.return should match their Education,Tours,Marriage, After marriage ur commitments/gifts to them
4.for ur old age this is most important..In some countries senior citizens are well taken care of.Otherwise u should remain invested in long term investments so that the money gets multiplied.
General :
if u are sure u have a lucky star, u can invest in risky but profit yielding investments.
Regular follow up of the investments is most essential.Even if u forget to renew a Fixed Deposit in time ,it will result in some loss.
Invest in high quality (Blue Chip) stocks or no-load mutual funds that invest in those kinds of stocks, especially food companies, consumer product companies, pharmaceuticals, and public utilities. They're lower risk than most stocks.
Invest "so-much" each month.
Hold on to your investments for as long as you can. The longer you hold then the more they'll be worth.
Some fund families: Vanguard, T Rowe Price
Penny Stock is a good way to make high profit. Check this websites http://penny-stock.keysolve.net
In the case of many penny stocks, low market price inevitably leads to low market capitalization. Such stocks can be highly volatile and if you have the right information it's very easy make a lot of money!
So my God-Father died 2 n 1/2 years ago and I was his beneficiary for his insurance at work or something like that, and I'd like to know what would be some good ways to invest this money so I can have a good future for me and the kids i plan on having way in the future. So yea, help please?
