I'm 28, married with 2 kids. My wife's family is well off and therefore we are well off. I make good money but we live above the means I provide thanks to her money.

I have a 401k through work that is 100% in stocks. My stepfather also maxes out my Roth IRA every year, and has been for the past 3 years. Should I do anything different as far as investing strategy from my 401k?

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Posted by TheHiddenFlask

The Welsh red light district

Member since Jul 2008

18384 posts

Posted on 7/20/11 at 2:12 pm to AuburnTiger08

Wow, life is good huh?

can you give more detail as to the stocks you are in?

I would suggest maybe rolling some of your money into floating rate bonds or a short duration bond portfolio, but a little more detail would help.

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Posted by wegotdatwood

Member since Aug 2009

17094 posts

Posted on 7/20/11 at 2:29 pm to TheHiddenFlask

I have a brokerage roth ira set up, has 5 grand in it. What should it be in (I'm looking for long steady growth, don't want watch it all the time? It's not in anything right now.

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Posted by TheHiddenFlask

The Welsh red light district

Member since Jul 2008

18384 posts

Posted on 7/20/11 at 2:36 pm to wegotdatwood

quote:
What should it be in (I'm looking for long steady growth, don't want watch it all the time?

If you don't want to manage it, just put it into a target retirement date mutual fund.

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Posted by AuburnTiger08

Georgia

Member since Nov 2010

280 posts

Posted on 7/20/11 at 2:43 pm to TheHiddenFlask

I'm a little green when it comes to investing etc. What I meant to say was my 401k is completely in mutual funds. The bulk of her money is in stocks, but I don't know which because its not really my business.

As far as what I want the money to accomplish: I need retirement money and that's really it. My children already have substantial college funds and nothing short of complete disaster would put us in financial dire straits. In summary, I want my inlaw's money to allow me to retire early.

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Posted by saint308

Member since Oct 2010

496 posts

Posted on 7/20/11 at 3:24 pm to AuburnTiger08

quote:
In summary, I want my inlaw's money to allow me to retire early.

Me too, except they are broke.

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Posted by Dirty D

The Dirty South

Member since Mar 2004

41 posts

Posted on 7/20/11 at 4:12 pm to AuburnTiger08

My recommendation would be to buy stock in companies that make money and products that you enjoy. For example, in my Roth right now I own stocks like Sirius, Pandora, Green Mountain Coffee Roasters (own Keurig), and Coinstar (own Redbox). I am in no way endorsing any of those stocks, just trying to give you an idea of how I approach it. It is riskier than a target date fund, but more risk could equal more reward.