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Valued Social Butterfly

Re: What Should I Do With Such A Small Amount??

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Message 1 of 8

drawpoker wrote:

Put half the money in VG Index 500 and the other half in the VG Total Bond index fund.  You said you want the money to grow,  so forget about savings accounts.

Both in your name only,  of course.

btw,  have you considered consulting a good divorce attorney?  LOL 


@drawpoker,

 

This person seems more concerned about financial security rather than the growth mentioned in her post. That concern is in response to the spouse's draining of the savings account. So little money is left, it would be prudent, in this case to put it in the safest place possible which IS NOT stocks or bonds.

 

And also btw, joking about divorce isn't so funny so I don't know why you posted 'LAUGH OUT LOUD' to your joke about divorce.

 

If my spouse had bled our accounts dry for THEIR hobby, or for THEIR gambling, or for any other "individual" activity of THEIRS; I certainly would be seriously contemplating divorce as an option.

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Trusted Social Butterfly

Re: What Should I Do With Such A Small Amount??

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Message 2 of 8

@drawpoker

 

Back again?  Been a while......................


Just think. The world was built by the lowest bidder.
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Valued Social Butterfly

Re: What Should I Do With Such A Small Amount??

1,817 Views
Message 3 of 8

Put half the money in VG Index 500 and the other half in the VG Total Bond index fund.  You said you want the money to grow,  so forget about savings accounts.

Both in your name only,  of course.

btw,  have you considered consulting a good divorce attorney?  LOL 

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Bronze Conversationalist

Re: What Should I Do With Such A Small Amount??

1,945 Views
Message 4 of 8

I would put the money in an account with only your name on it.  I would also separate all your money from his.  

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Valued Social Butterfly

Re: What Should I Do With Such A Small Amount??

2,605 Views
Message 5 of 8

retired2pa wrote:
It's coming in my name. Should I just put it in my savings at Ally so it draws a little interest or is there something better?

At your age, with the purpose being to protect the money from his spendthrift hands, I would put it in an account to which he has no access. Whether it is a savings account or other investment, that is up to your feelings about exposure to risk. A regular savings account is probably the least risky.

 

Remember to put it into an account to which he has NO access.

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Conversationalist

Re: What Should I Do With Such A Small Amount??

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Message 6 of 8
It's coming in my name. Should I just put it in my savings at Ally so it draws a little interest or is there something better?
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Valued Social Butterfly

Re: What Should I Do With Such A Small Amount??

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Message 7 of 8

retired2pa wrote:

I have a small claim coming shortly that amounts to around $24,000 or so and I'd like to know what would be the best way to make this grow a little more.

 

What I'd like to do with this small amount of money that will be coming is keep him from spending it.

 

Any advice on what to do with it would be appreciated.

 

Thanks

 

 


Is the money coming to you in your name or to both of you? If it is coming to you, can you not put it in a bank account that is inaccessible to him?

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Conversationalist

What Should I Do With Such A Small Amount??

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Message 8 of 8

I have a small claim coming shortly that amounts to around $24,000 or so and I'd like to know what would be the best way to make this grow a little more.

 

Here's a Reader's Digest version about our financial situation. I'm 69 and my husband is 75. He has an expensive hobby that has drained our savings down to $10,000. I'm scared that if something drastic happens we will lose our house and everything we have. He's never been any good with money and thinks it grows on trees. I've set him down recently and showed him where our pension and SS goes but just recently he bought a $5000 shotgun to shoot trap and I have to make payments on it because I don't want to take the money out of our savings. I do not spend money on anything for myself. At this stage of the game, it doesn't do any good to fight with him because he will pout and get mad so I usually give in to what he wants. We should do some home improvement projects but every time I get some money set aside he needs supplies for his shooting or he needs money to go on a shoot with friends.

 

What I'd like to do with this small amount of money that will be coming is keep him from spending it.

 

Any advice on what to do with it would be appreciated.

 

Thanks

 

 

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