So I'm growing up now .. and realizing that hey I finally have a little money to invest now that we have 2 incomes, and our bills are almost paid off (dont have a mortgage, only rent) anyone have recommendations on what might be a decent investment or two? Thanks.
I have my money in a credit association which currently pays out 3% /year Used to be as high as 6% a few years ago, that was sick 6% /12 months * 10k (for example) = 50/month
Might be a good time to invest in real estate then, if you are renting. Prices are low, and mortgage rates are low. Disclaimer: I am not a real estate agent, nor am I selling any of my real estate at present. barfo
I thought about that actually, but Real estate unfortunately around here would net people about $1500-$1700 a month mortgage, and we cant afford that, but we also arent looking to move, even though we understand it would be cheaper to do so.
If you are renting, you should invest in a house. Real estate is always a very good investment in a recession anyway. After that though, Roth IRA's are a good way to go, and you can always count on precious metals. Like Banya said........"That's gold." Words to live by.
http://www.time.com/time/business/article/0,8599,2013684,00.html I'm not against home ownership, but its good for OWNING if you have a long term plan. This 5-year then flip the house kind of mentality just doesn't pass the mustard test.
yeah thats what a lot of people say. I just worry with the fact that we are only paying $700 a month rent as it is... then throw in a rental property, which would run $1500 a month... if we dont have a tenant.. we are screwed.
I got a financial advisor. A good one is worth it (get recommendations). Even with the stock market slump, my retirement has almost doubled in 3 years. For me, stock was a culinary basic (chicken stock, meat stock, fish stock, vegetable stock) and bonds was a sterioid junkie who played for the Giants. Believe me I needed someone proficient. The one I hired specializes in planning for LGBT folks, which was important to me, probably not to you. We meet annually to update my portfolio.
without meaning to get too personal, what does a specialty in LGBT do? Things like tax planning, or is it purely for the level of service? I've never had to think about a bigoted advisor, but I have dealt with lawyers that didn't think a 22 y/o was worth their time.
the ones I've looked at run around 1% portfolio worth. I'm in the same boat, btw...getting to the point where there's a baby, a mortgage, a rental property, a few 401(k)s and a bunch of cash in the safe. So I'm interested in the topic.
cool thanks for that info. And glad its not just me who this information will help although you are a couple steps ahead of me with the rental propery and mortgage lol.
Spend your money on magazines and read up on current trends/blogs/news so you just don't blindly give your money to some guy and have him invest it.
