Author Topic: Need Advice On Investing Our Soldiers  (Read 1103 times)

iamlittlehedgehog

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Need Advice On Investing Our Soldiers
« on: January 11, 2016, 11:24:37 AM »
Long story short: DH and I are selling our house in Stepfordhellville and moving into an affordable rental while I finish out my degree (finally). We are expecting to make about 40k after realtor fees and paying ourselves back for the money we put into it for fixing it up. 
DH would probably be very happy to plop that money into a savings account for 3 years and never touch it. I however think we could profit from investing this. I don't think he would go for something high risk/high reward but possible a low to moderate risk investment might persuade him.

A little more info: I'll be quitting my full time career prospectively in May and working part time somewhere so we will have a very limited income for several years, should we set more aside that we can quickly liquidate in case of a big emergency?

nereo

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Re: Need Advice On Investing Our Soldiers
« Reply #1 on: January 11, 2016, 11:29:25 AM »
I'm still a bit unclear on what you want this money to ultimately be used for.

You mentioned 3 years and quitting your job in May.  Are you planning on using this money to support  yourself during this time? Do you have other cash-savings (an ER fund)?  Can you live on DH's salary alone?  What happens in 3 years?

Broadly speaking, I would say that you should keep any money you think you will need in the next couple of years in a savings account.  Anything beyond that should be invested, starting first with tax-advantaged accounts.


iamlittlehedgehog

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Re: Need Advice On Investing Our Soldiers
« Reply #2 on: January 11, 2016, 11:40:12 AM »
Sorry about that - I should clear that up. Ideally we would like to use this money to pay for a new house somewhere down the line, I'm guessing 3 years once I get certified, possibly 4 if we just want to stay where we are at for a bit.

I'll be in school for 3 more years (I'm including my certification time with this) that is being paid for by a small inheritance.

We have about 8k in emergency savings with auto-investment 2x a month ($300 total)

I'll be working part time to cover our food and gas budget (approx $250 a week) but other than that we will be living off of DH's income of 50k a years. Which is plenty for the 2 of us and 2 dogs.