Best Real Estate Investments In Phoenix
November 14th, 2005
Question: How should a 22 year old invest 20k?
My dad passed away and I’ll be coming into a small chunk of money. I had 20k deposited into a trustee IRA, which I can take out at any time, I just have to pay income taxes on it. It was just deposited this week and the lady at my bank wants me to put into investment portfolios. (she said aggressive because I am so young) I am getting another 20k from my mom in a few months which I don’t have to pay taxes on. I have about 19k in debt between my car and credit card which I know I need to pay off first. My questions are the following…
What is the best way for me to invest this money after I pay off my debts? Is it real estate? I live in Phoenix, Az so should I buy a little condo or something? Or should I invest it somewhere else? Stocks? Get a roth IRA? What do you suggest?
Forgive me if I sound ignorant. I didn’t think I would actually have money to invest so haven’t paid attention to these things like I should have. Thanks for the suggestions!!
Answer: after your bills are paid, i’d say keep it in an IRA till you settle down and are looking to buy a house.. that extra will come in handy for a down payment.. maybe $15k for the down payment and $5k left in an IRA for your retirement, or emergencies.
how things are looking now. anything you can put towards your own retirement is a good thing. especially at 22..
Earn 60%+ returns investing in Phoenix real estate
Posted in 
Tags: