ok, im 26, have about 180k in home equity ( i have 3 properts) and im about to sell the houses to see if i ca?

Question

can make the move to florida...but im going to start working overtime to start buying more stocks, socking some more $ away..besides sharebuilder, and my 401k, i want to particiapte in some mutual funds...any suggestions? Im female and do not plan on having childre for about 7 more yers. I am single anyways for now. I want to see what your suggestions are for the highest return on my funds.or any other suggestion on how i should invest my money. I dont like accounts with fees, except the fees that are built into the funds. i want to improve my financial life.Thanks
for your help,,oh and i have no credit card debt.

Answer 1

First of all, you're obviously no dummy if you already own 3 properties. You've got some good equity and you're selling at the top of the market.

What you need to figure out is how much money you're really going to have after you sell the properties. If you'be been a landlord, I assume that you've been depreciating the properties while you've been renting them. Well, now you're going to have to pay that all back to the government. Also, you're going to have to pay capital gains tax on your properties (unless you've lived in one of them for at least 2 of the past 5 years), so there goes more of your equity. All that affects how much money you'll have to invest, so figure that out. It's important.

Next, you'll have to figure out what your goals are. If intend to buy another home to live in when you get to Florida, you're going to have to put some of your money into something fairly liquid for your down payment, like a money market fund.

I see you're participating in your employer's 401(k) fund. That's good. I hope you're contributing up to the maximum match. Free money is good.

Next, if you're not doing the IRA thing yet, do it. Whether you choose the traditional or Roth IRA depends on whether you think you'll be in a higher or lower tax bracket when you retire. Personally, with taxes at a very low point in history and a ballooning federal deficit, I'd bet on tax rates being higher when you retire so if I were you, I'd choose a Roth IRA. Tax-free growth and withdrawal are good.

If you've maxed the IRA contribution out, go back to the 401(k). Tax deductable contributions are good.

Finally, if you still have money left over, I'd put half into an index fund covering the total US stock market and half in an index fund covering the international market. Go for no-load funds with low expenses. I'd recommend looking at Vanguard, T Rowe Price and Fidelity fund families.

If you really want a good investment, go buy a book on investing so you can decide what makes sense for you. Sure, you could give your money to a financial advisor but how do you know he's not just in it for the fees and commissions he charges you? How do you know his advice is right for you? You need at least a foundation so you can make an informed decision. Frankly, nobody's ever going to care as much about your money as you are, so learn at least enough to know if any advice you're given is any good. Personally, I like "The Only Investing Guide You'll Ever Need" by Andrew Tobias. It'll give you the basics. Good luck.

Answer 2

It sounds to me like you're already improving your financial life day by day. Just don't get taken in my a partner. Keep everything in your own name for the first several years of a relationship until you are sure it's going to last.

Good luck in your life! It sounds like you're well on your way.

Answer 3

a million. purchase wine, a corkscrew, and four wine glasses. 2. Invite a minimum of three human beings over, and tell them to carry wine. 3. devour each and every of the wine, and income from the initiating of a chilled weekend!

Answer 4

FLA maybe, Miami any bad home in a bad location will cost you 180K. I am IMing right now. Your doing good.

Answer 5

First you must go out on a date with me, then with our double income we can be very well off