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Old 06-20-2007, 07:17 PM
turnipmonster turnipmonster is offline
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Join Date: Jul 2003
Location: ain\'t got no flyin\' shoes
Posts: 6,353
Default Re: WSOP Windfall... What is a boy to do?!?!

congrats on the win! the thing about a money market account is it's a great place to keep money while you are learning about investing, it's not a great long term solution. inflation and taxes will cut into that 5% over time giving you a real return of much less.

a thing to keep in mind regarding financial advisors is they're good for some people, but might not be the best way for you to go if you are interested in learning more about this stuff. I have gotten some truly horrid recommendations from financial advisors, and had one who would do anything in his power to keep me from investing in an index fund through him. be careful with financial advisors is all I'm saying.

if you're interested in learning about investing, head over to the finance forum and check out the reading list. I read "a random walk down wall street" first, which had a good introduction to the basic machinations of investing apart from espousing an index based philosophy (which you may or may not agree with.

also check out posts by Jeff W and TheMetetron, both have solid info. if there is a term you don't understand, just look it up on wikipedia or investopedia, both are great resources for learning about investing. when I started learning about this stuff last year I would read financial articles and look up any terms I didn't understand.
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