Have you maxed out your 401K or any version of an IRA account?
Yes, I have maxed it my 401K and I'm taking advantage of my company's match. My wife is doing the same. I don't have an IRA account. Who would you recommend?
Do you have kids? If so does your state offer 529 tax deferrment? If so, have you maxed that out yet?
Yes, I do. Once the mortgage is paid off on 2/23, I was going to do that. Who should I go with? I'm in Texas.
Does your house need a significant improvement within the next 2-3 years(roof? Solar panels? new tankless water heater? etc?)?
If so, have you asked your local credit union for some sort of certificate program?
Would like to replace our water heater....I think it's going out. There's some other minor work to be done inside the house. Outside of the house, we would like to upgrade our fence, get a patio, make some expansions to the house. But all these are just on the backburner until we have built up some capital (outside of our investing).
I'm not familiar with the certificate program. Can you explain?
Have you looked into creating a Vanguard account- or some sort of other financial investment firm? (MMM recommends Vanguard, but you may be able to get a better local deal, or one through your employer- some employers offer discounts or additional fun stuff regarding these depending on your industry...)
I have never thought of investing into Vanguard other than taking advantage of it in my 401K. How do I do that?
Do you have a bike?
I don't, but I don't think I can get to work on a bike.....sorry.
Have you really wanted to do something with your money that you have previously held off on?
There are plenty of things, but on top of our list - take a nice vacation without thinking about how much it's going to put us under.
You're really asking advice for a very subjective subject. There's no real right or wrong answer here- it all depends on what you want out of your green employees.
I understand, but I just want to get a feel from other mustachians so I can start my 2nd part of my life (life after no mortgage) and get to enjoy this debt-free life.
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1. I have no idea who offers the best IRA accounts. My credit union offers what I would consider a good deal, but you should probably check out your local one, and any of the big banking institutions in your area to see who offers the smallest fees and biggest Return On Investment.
2.No idea- I'm in WI and we have tax deferred 529's available last I knew, though Walker may be on the guerilla warpath with those too... But GOOGLE should be your friend in this regard.
3. A certificate program is a short term method of investing- commonly called CD's. My credit union offers terms of 6 mos up to 36 months- the longer you stash the cash the higher percentage back you can earn, much like Vanguard. BUT- CD's, from what I understand, are much easier to liquidate, and obviously have shorter terms available. This may assist you when trying to build a housing/repair stash.
4. Visit the Vanguard site and check it out for personal investing.
5. You don't need to bike to work to make a bike a worth while investment. Even going to the park or the store once in a while will help ease your car/gas bill. Also, you'd be outside, and exercising- I hear Texas has decent weather this time of year... wouldn't that be enough reason to get one?
6. You don't need to spend lots of money to vacation well. You can go camping with family(Badlands in SD- you Need to see the stars at night- even if just once), or you can check out hotel rooms online to a larger city(not the biggest like Dallas or Houston, but have you ever seen the Alamo? Or gone to a barbeque competition?). I prefer hotwire, in conjunction with google maps to find the best stuff near where I want to be(usually museums/historical sites). Start small here, and try to maximize your enjoyment per dollar. Even a weekend trip can be very satisfying to wanderlust.
7. That's cool- brainstorming is always fun!