Yes i own a house. Rate at 5.875%. Not a whole lot of debt a few credit cards. My truck is payed for and the wife's suburban will be paid for at the end of this year. Owe 1200 on the 4-wheeler. I know i am going to pay the first year of tuition to private school for the kids as you get a small break by paying yearly. Would like to invest half of it but I'm not very knowledgable about this. The other half will pay down credit cards and pay off other debt. Maybe around 18,000(tuition incl. in this) total. Will have about 10 or 12 left to put in interest earning saving. The first half is really what i need help with.

This post was edited on 1/8/09 at 11:10 pm

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Posted by Chicken

Jackassistan

Member since Aug 2003

22089 posts

Posted on 1/8/09 at 11:57 pm to BHSRAMS

depending on the interest rates, you should pay off the credit cards, your wife's car and the four wheeler?

Do you have a year of living expenses already saved up?

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Posted by Zach

Gizmonic Institute

Member since May 2005

112802 posts

Posted on 1/9/09 at 4:40 pm to BHSRAMS

quote:
Would like to invest half of it but I'm not very knowledgable about this.

When I was young I had a very simple rule of long term investment that served me well. Invest in companies...blue chips...that you are confident will be around for 30 years.
My picks were Texaco (now Chevron) and Proctor and Gamble.
It's a simple "buy and hold" strategy and it's safe, doesn't require broker fees and you can always buy another non related stock...I bought United Technologies last year.

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Posted by tigeralum06

Member since Oct 2007

2796 posts

Posted on 1/9/09 at 7:22 pm to BHSRAMS

go into the asian/australian/european market

get out of the dollar

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