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re: Need advice re: financial planner
Posted on 6/19/10 at 1:41 pm to RC
Posted on 6/19/10 at 1:41 pm to RC
RC, as the Flask said, unlever yourself. I would leave the student loans alone for now, those are fine, especially at 3%. The mortgage on the other hand, I would throw a lot of money at. While your rate is good there at 5.1%, 800k is a TON of money to owe.
Also, you need to up the money in your retirement account. I assume, you have maxed out an IRA in addition to your 401k. If so, then get a brokerage account and then start researching on stocks/bonds to purchase.
ETA: 1st step would be to upgrade from RC cola brah.
Also, you need to up the money in your retirement account. I assume, you have maxed out an IRA in addition to your 401k. If so, then get a brokerage account and then start researching on stocks/bonds to purchase.
ETA: 1st step would be to upgrade from RC cola brah.
This post was edited on 6/19/10 at 1:43 pm
2
Posted on 6/19/10 at 5:08 pm to LSUtoOmaha
Yeah. Definitely chip away at that mortgage. Those student loans are crazy cheap. I wouldn't prepay those.
Posted on 6/20/10 at 7:52 pm to LSUtoOmaha
quote:Tax characteristics of that mortgage make it favorable leverage too. I'd sit pat with the loans, and focus on investments and advice just as he's doing.
I would leave the student loans alone for now, those are fine, especially at 3%. The mortgage on the other hand, I would throw a lot of money at. While your rate is good there at 5.1%, 800k is a TON of money to owe.
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