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Message
Best financial products for wealth building/retirement planning
Posted on 9/19/20 at 6:51 pm
Posted on 9/19/20 at 6:51 pm
Other than a company-sponsored 401(k), what financial products are ideal to ramp up wealth building and retirement planning in your 40s? Liquid savings is a given, so other considerations are: Roth IRA, annuity, whole life, etc. Recommendations?
4
Posted on 9/19/20 at 11:25 pm to callofthewild
HSA. Small, but tax advantaged.
Posted on 9/19/20 at 11:29 pm to AaronDeTiger
quote:
HSA
My wife calls our transition to this High deductible plan the Poor Person Option (obviously doesn’t know what she is talking about). As she puts it, “[The HSA is] Money we put away for medical but can’t touch.”
I told her I’m hedging our health bills will be smaller and we will pay cash as necessary.
This post was edited on 9/19/20 at 11:31 pm
Posted on 9/20/20 at 5:59 am to DiamondDog
HSA is a good option. Our deductible is $3k but my company gives me $1K so I am only out of pocket $2k each year.
Posted on 9/20/20 at 6:53 am to callofthewild
REAL ESTATE
read sticky. search on this site. many threads explaining it.
read sticky. search on this site. many threads explaining it.
This post was edited on 9/20/20 at 6:56 am
Posted on 9/20/20 at 7:02 am to Fat Bastard
Truth. RE deserves a hard look. It may not be for everyone but it's advantages are hard to ignore.
Posted on 9/20/20 at 8:34 am to Douglas Quaid
Thanks. Rarely have health expenses but no one knows the future. Will do an HSA.
Pretty sure RE is for me. Parents owned rental properties and helped out with them over the years so have some familiarity with what this entails. The evictions policies of late are something I’m thinking through though.
Pretty sure RE is for me. Parents owned rental properties and helped out with them over the years so have some familiarity with what this entails. The evictions policies of late are something I’m thinking through though.
Posted on 9/20/20 at 10:28 am to callofthewild
quote:
Roth IRA
My thinking is at some point we are going to have to pay for all this shite we're doing. Taxes will be going up.
Posted on 9/20/20 at 12:23 pm to callofthewild
Posted on 9/20/20 at 1:10 pm to Fat Bastard
Great links - thanks!
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