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Investing Settlement Proceeds

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Investing Settlement Proceeds

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personal injury lawyer washington dcBeing injured as a result of someone else’s negligence can wreak havoc on your life.  You are likely to have substantial medical bills, pain, suffering, and lost wages.  Hopefully, you have retained a good personal injury lawyer to assist you with getting compensation for your injuries.

Fast forward.  Now it’s the end of the case, and either through settlement, or at trial, you have recovered a large sum of money.  Of course, no amount of money for your personal injury case can undue the hands of time; but, if handled properly, the funds you receive may make your life easier.

But the question is, how should you handle those funds?  Let’s start with what you shouldn’t do.  First, unless you have experience with investing, don’t try to go at it alone.  You won’t have the necessary skill set to make the most from what you receive.  Second, if friends of family become aware that you have come into money because the case was resolved, you may be asked for loans.  Be very, very careful about this.  You can lose the money you fought so hard to get quite quickly.

Here’s what you should do!  Do your research on capable investment advisors.  A financial advisor will be able to give you good information on whether to invest in stocks, bonds, or even mutual funds.  The financial advisor will explain how the investing works, and chart out the interest you may earn on your money.

One way to find a financial advisor for your injury case is to search the internet.  You might, for example, search the phrase financial advisor Gaithersburg Maryland or the phrase financial advisor Washington DC.  These are likely to yields lots of results, and you can then begin the process of interviewing the financial advisors.   You should select an advisor who has the background, education, and training to insure that you make the most of the money you have received.