USARMYINFANTRY Question : Personal Finance question? What do I do next?
I’m 23, wife 24 years. I make $ 52,000 per year, to about $ 25,000 per year. Live in Texas and started a Roth IRA end of last year. We maximized for 2007 ($ 4000) plus $ 250 we had last year. We have, with U.S. funds and interest and this year with sales charge is 20.55%. We have no credit card debt, own 2 houses. One is for lease and the benefit is in principle. The other is on the market. Hoping to get about $ 10,000 of that. Both homes were purchased in 2003. The IRA is under my name and my two wives. I wanted to know, what do I do next to most of my profits to invest. Should I open a Roth IRA under my name and my name wives? I was also thinking of entering the stock market and investing in low-risk businesses such as Nike, Coka-Cola, Pepsi and other major companies. I was also thinking of investing in gold and silver. Let me me if I need to provide more information. MerciNous pay $ 225 per month on our car, we have approximately $ 8,000 and $ 350 on our truck and we have $ 18,000 on this. I also get money from the GI Bill ($ 1,800 per month). The school is very cheap so I enjoy most of it ci.1. The Roth IRA is our joint and think of opening individual accounts for each U.S. .2. My wife is currently looking for another job that pays better if it does not go through the hassle of putting it into a 401 (k). My job that offers a match of 10%, and time Registration is next month. I am planning to attend the 401 (k) whenever I get the mail Inthe paquets.3. I do not think we have had many leaks, but let me know where they are and what can I do to help. The total amount we owe on both vehicles is $ 25,000 and thats for a Corolla S 2006 and a 2004 Nissan Armada.4. The IRA, we have an average of 20% stake and a few changes this year. The life interest is 17%. Thats after expenses vente.5. Any other questions, let me know Best answer:
Answer by AJ
adopt me. No kidding. Metals is as a bargaining chip. Sit in foreign equities.
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Check out Vanguard funds. No-load, low expense fee’s.
Have you tried tightening your expenditures? It sounds like you have a list of significant committments. Track your expenditures and cut back on those “good-to-have’s”.
Check out and repair the leaks in your reservoir before you put more water into it.
Good luck.
Two of your statements are unclear:
1. What is that 20.55% sales charge you are talking about?
2. IRA accounts are individual, not joint. Do you mean you each have an IRA account?
So both of your companies do NOT offer 401(k)? If they do, you should starting these accounts with your companies.
Pay off your bills before you start any investing or only put the money in your company 401Ks up to the match.
Pay off those cars or sell them and get cheaper ones.
Don’t go in to individual stocks when you do start investing. Do a good no load growth mutual fund.