I make over $100,000. What should I do?
2007-02-08 14:39:35 · 10 answers · asked by sshirfree 2 in Business & Finance ➔ Personal Finance
Keep working forever and hope you enjoy it.
2007-02-08 14:43:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Start saving immediately, already u have lost a lot of time. However, every penny saved today, is a penny gained tomorrow. Try toexplore the possibility of alternate source of incomes. Some how the internet does not seem very promising, but u can try.
2007-02-08 18:04:52 · answer #2 · answered by wizard of the East 7 · 0⤊ 0⤋
How can you make decent money and not saved anything?
I can see if you were 59 and making minimum wage not having any savings.
Looks like you will be working into your 70s.
2007-02-09 01:58:52 · answer #3 · answered by Quixotic 3 · 0⤊ 0⤋
if you make that much how can u have been as dumb as to save nothing for ur future? in ur 59 years one would have thought u'd learn to plan ahead just a little!
start saving now, or maybe invest in something so ur money grows.
and maybe consider some sort of life managing course.
2007-02-08 14:50:01 · answer #4 · answered by zimba 4 · 0⤊ 0⤋
take 50k of that and put it into tax free municipal bonds. Repeat that for the next 11 years. At age 70 you will have $550,000 in there that will provide you about 33k a year in retirement income tax free. That and social security will give you the 50k/year income that you will have had to become accustomed to.
2007-02-09 05:25:37 · answer #5 · answered by digdowndeepnseattle 6 · 0⤊ 0⤋
Go see a financial advisor. The first consultation is free. They can help you strategize and figure out how to get you setup for retirement. It's never too late, it just costs more.
Good luck.
2007-02-09 06:58:43 · answer #6 · answered by Peter 3 · 1⤊ 0⤋
Learn to live on $15,000 a year. Save the rest.
2007-02-08 15:32:27 · answer #7 · answered by morningfoxnorth 6 · 0⤊ 0⤋
open a 401k account, open an IRA account. Invest very carefully in mutual funds, with funds that have minimum risk.
2007-02-08 14:47:43 · answer #8 · answered by curio 3 · 0⤊ 0⤋
Get a ******* bank account and put some percentage of your ******* income in your ******* bank account. ESPICALLY with over 100k, what a stupid question!
2007-02-08 14:43:10 · answer #9 · answered by Anonymous · 1⤊ 0⤋
cd's, ira, buy some life insurance,.money market accounts.
2007-02-08 14:48:09 · answer #10 · answered by bleacherbrat34 6 · 0⤊ 0⤋