I am a stay home mom for 16yrs. , my husband never wanted me to work , at the time when my kids were small I was busy in their care. Now , I am thinking what will I do if something happened to my husband, how would I manage to take care of myself? What are some good investments I could make to safe guard myself for the future. I have just started to work in a private dr. office but I am thinking of changing to a gov. or state job because they have better retirement benefits. Thankz for your time.
2007-01-28 11:58:00 · 3 answers · asked by m & m 2 in Business & Finance ➔ Personal Finance
First off, make sure you and your husband have a good term life insurance policy. That way, if something does happen to him, that you will be well supported.
On top of that, you can put your money into a Roth IRA and it will grow tax free. Other than that, you can invest in mutual funds. They tend to perform pretty well over the long term.
2007-01-28 12:06:41 · answer #1 · answered by Jen G 5 · 0⤊ 0⤋
- buy good insurance on your husband
- invest in your dr's 401k plan.
- know that if you and your husband divorce you are entitled to 1/2 of his retirement savings.
sometimes a government plan is not better then what you have. Dr.'s often contribute 5% of your pay to your retirement plan so that they can maximize their OWN retirement plans. This can be a substantial benefit...make sure that you get all your facts together before you quit a job.
If your current job has a 1 year wait to participate, put money into an IRA at your local bank and then roll it into your 401k when you become eligible. Do not wait, start saving now.
2007-01-29 16:55:22 · answer #2 · answered by digdowndeepnseattle 6 · 0⤊ 0⤋
Start a 401k.
2007-01-28 20:05:37 · answer #3 · answered by Jim C 6 · 0⤊ 0⤋