40 Yr Old with $500/month for Investment. Best Course of Action?

[timamr]

40 yr old male in FL that has no upfront money but maybe a couple grand but has the ability to invest $500/month for the next 15 years. What would be his best option(s) in your opinion, and what could he expect the outcome to be?

 

[jmhalvo]

40 yr old male in FL that has no upfront money but maybe a couple grand but has the ability to invest $500/month for the next 15 years. What would be his best option(s) in your opinion, and what could he expect the outcome to be?

500/mo into mutual Fds balanced to meet his risk tolerance.

 

[scagnt83]

It all depends on his risk tolerance and goals. No way to answer the question without those facts.

 

[Iwillpay]

40 yr old male in FL that has no upfront money but maybe a couple grand but has the ability to invest $500/month for the next 15 years. What would be his best option(s) in your opinion, and what could he expect the outcome to be?

Index annuity and index universal life

 

[wfs]

40 yr old male in FL that has no upfront money but maybe a couple grand but has the ability to invest $500/month for the next 15 years. What would be his best option(s) in your opinion, and what could he expect the outcome to be?

What's his risk tolerance?
What are his goals?
What are his current assets?
Are income taxes, estate taxes, etc a consideration?
The list goes on and on.

No way to answer such a question with such limited information.
You could do plenty of things with $500 per month. Looks like you may need a mentor to help guide you through the information gathering process.

 

[bobson]

Bury it in a coffee can in the back yard.

 

[DHK]

John Savage solds millions of dollars of life insurance by comparing it to a "tin can" with a vice that won't let you have access to the money for 5 years.

 

[scagnt83]

As someone who is younger than your client. Personally I invest mainly (for retirement) in 3 things:
1. IUL (some WL too)
2. Index Funds (S&P/Bonds/International)
3. Indexed Annuities that are growth oriented

I only put Qualified Money into the Index Funds. Im not a fan of most mutual funds... way too expensive and way too much overlap (even within the same fund).

My play money is in the FX market. And my rainy day money is in cash and physical gold.

 

[Norwayguy]

As someone who is younger than your client. Personally I invest mainly (for retirement) in 3 things:
1. IUL (some WL too)
2. Index Funds (S&P/Bonds/International)
3. Indexed Annuities that are growth oriented

I only put Qualified Money into the Index Funds. Im not a fan of most mutual funds... way too expensive and way too much overlap (even within the same fund).

My play money is in the FX market. And my rainy day money is in cash and physical gold.

What no Silver? .

 

[scagnt83]

What no Silver? .

Not in bullion. I do have a nice collection of silver quarters going though

I have a friend who is heavily invested in silver. He loves the metal.

Too much volatility for me to have as rainy day money. Plus it takes a heck of a lot more room to store vs. gold... I would need about 50 safety deposit boxes of silver to match 1 of gold!!!!