re: We have saved 60k and my fiancée and I have no debt please help.

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Posted by Colonel Flagg online on 8/20/17 at 3:41 pm to AcetylCoA This is just my opinion and I am not an expert. Keep an emergency fund fairly liquid of 3-6 months of expenses. Pay off credit cards every month. Don't carry a bunch of open credit on many different credit cards. If you buy a house put atleast 20% down to avoid PMI. Don't buy too much house. I think I am somewhere between 12-15% gross or something like that. Obviously it can be higher, but keep in mind all expenses. Don't buy too much car. I would try to avoid debt as much as possible outside of house, vehicles (maybe), and business investment. Max your Roth and contribute to personal 401k to company match at minimum. Try to save 15% household minimum for retirement annually. Try to keep a balanced stock portfolio. There is some thought investing in a low fee S&P index fund is the best thing for the novice investor. You can also use a target retirement fund if you have a company 401k. Realize that children are expensive and don't have kids you can't afford to live the way you want. Basically plan out having a family. If you don't have kids take some time to travel and enjoy each others company first. When you get married don't separate your accounts. You should be a financial team. It is part of your relationship and it always seems to cause problems when you dictate it is an individuals money instead of the couples money. Obviously this is for after you are actually married. I don't see how being black has to do with anything regarding this topic. Race doesn't dictate decision making. It is just individual choices and in general society is clueless about financial management.

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