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Let me start by saying that I know absolutely nothing about investing. I'm a undergraduate student studying physics and mathematics on the pre-med track. I don't have any experience with banking, the stock market, real estate, trust funds, bonds, or anything of that nature. However, I'm looking for some information on the world of investing. My parents have been pretty successful in the last few years but as immigrants from the former USSR have no grasp on how to handle this money in a way that is most beneficial (making the most amount of money in the safest way possible).
As for details, lets just say that my parents are both in their early-mid 50's, have retirement funds and 401k's and in addition to this have a little over $500k sitting in a joint bank account. I'm pretty sure that some of this money isn't even covered by the FDIC because of the amount sitting all in one place, and that is part of the issue. Because my parents are past the point of learning how to manage this money, I want to learn as much as I can to help them in this role. What I'm looking for are some good book resources to get me started, and any other resources I can use to expand my knowledge base. |
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