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re: What do I do with my money next?

Posted on 8/22/13 at 1:12 pm to
Posted by Duckman13
Tiger Stadium
Member since Dec 2006
3048 posts
Posted on 8/22/13 at 1:12 pm to
1)by permanent life, do you mean whole?
2)do you have an emergency fund (4-6 months living expenses)
3)do you own a house?
Posted by tdavi48
NA
Member since Mar 2012
606 posts
Posted on 8/22/13 at 1:48 pm to
Step 1) Emergency $$$
Step 2) Debt Snowball (Google)
Step 3) 3-6 Months living expenses
Step 4) Max out 401K to company matches
Step 5) Max out Roth IRA for each of you
Step 6) If you already make too much money or after you have maxed out ROTH IRA, max out traditional IRA
Step 6) Either Invest in Stock Market or you could start looking at investments in Real Estate and rental property

Thats all I have for now, good luck!
Posted by matthew25
Member since Jun 2012
9425 posts
Posted on 8/22/13 at 1:51 pm to
20 year term life is what you need. At ten years, replace the 20 yr. with a new 20 year.

Open account at Scottrade in your area & take a look at the 3 health care mutual funds: Vanguard (VGHAX), T.Rowe (PRHSX), and Fidelity (FSPHX). (You may to deal directly with T.Rowe). I have all 3 and they are making me money. Put in $10 - 20,000 each.

Find other mutual funds - look at T.Rowe's New Horizon, Vanguard Wellington, Vanguard 500 Index, Fidelity Low Price, and these ETF's - VIG and XLP. And the Spyder financial ETF.

And do get the emergency fund and a house!
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