Hi all,
I'm a 26 year old married male. I have 50K saved in my 401k, that consists of growth index funds. I also have a modest house that I owe 125K on. Am I on the right track for my age to be financially stable in my retirement?
2006-11-02 11:07:57 · 3 answers · asked by Anonymous in Business & Finance ➔ Investing
I also do not have any credit card debt.
2006-11-02 11:12:24 · update #1
Well, you're doing better than we are, I'll say that.
As for being on the "right track" it all depends on what your goals are. Investing and saving can get really complicated, so I recommend you talk to a financial advisor. They have alternatives for you that you hadn't thought before.
My manager was in a situation where she had an old 401k earning lousy interest (around 3%) for years, and is now making at least 12% on it. It's a higher risk, but she decided it was the best for her goals.
Another benefit right now is compeitions is pretty fierce for deposits, so if you do choose to go with your local bank or investment firm, chances are you can get a great deal.
2006-11-02 11:18:29 · answer #1 · answered by Sativa 4 · 0⤊ 0⤋
Yes, you are super saver, a lot of young people at your age want to trade your position. Keep saving and stay of of debt is the best weapon building wealth
2006-11-02 23:10:31 · answer #2 · answered by Hoa N 6 · 0⤊ 0⤋
yes you are on the right track. You are way ahead of the pack. It sounds like you have a good head on your shoulders.
2006-11-02 21:17:19 · answer #3 · answered by EAA Duro 3 · 0⤊ 0⤋