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We can loan up to $500 to Hodges occupants, in view of qualifying elements. On the off chance that endorsed, your credit will be expected on your next payday that falls in the vicinity of 10 and 31 days after you get your advance. Nitty gritty data with respect to expenses and reimbursement is accessible on our Rates and Terms page. As you consider whether an advance is proper for your prompt needs, you ought to likewise investigate other subsidizing alternatives. A payday credit is a genuine budgetary duty, and not an answer for long haul issues. Getting from a companion of relative may be a superior alternative.
Assets: I have $190,000 in cash, only earning 1.1% in an online money market acct. I have $27,000 in an old 401K and newer Roth IRA (contributed $5K for current and past year). I have a Master's Degree and have worked as a consultant earning gross $76,000 in 2009, $158,000 in 2008, $123,000 in 2007, and $115,000 in 2006, and $55,000 in 2005. I own 2 cars outright. I have a 2-bedroom condo. Debts: I split a total mortgage balance of $160,000. We overpay the monthly payment of $650 + $250 HOA. We pay $1400. My half is $700. Since I work from home, I tax deduct a portion of the payments. I have used an accountant every year for past 5 years and itemize everything for maximum deductions. I have no credit card debt. I paid off my $50,000 student loan within 1 year of graduation. I have lived frugally for the past 3 years.
Standard investment advice is that you should invest in a diversified mix of stocks, bonds, and money market funds. If you are like most people you will invest part of your money aggressively in stocks, and part conservatively in money market funds and bond funds. However, some young people will go all stocks, and some very conservative people will go all money markets. The links below have on-line questionnaires which will give you an idea of how to do "Asset Allocation," determining how much to put in each type of investment. You want to buy a diversified portfolio of stocks as individual stocks are too risky. Highly knowledgeable people can buy a properly balanced portfolio, but most folks have a difficult time balancing things on their own. They will misbalance their portfolio by buying all small stocks or all growth stocks, or some other misbalanced assortment of stocks. Back in 2000, Some people bought all Internet stocks; they got burnt when they all crashed together. You have to diversify across industries. Unless you know what you are doing, it is best to buy mutual funds that will diversify for you. Buy no-load, low cost funds. Mutual funds should have expense ratios of less than 0.5%. I like index funds. Because of their broad diversification, you are less likely to have a dramatic drop in value. They also have the lowest management fees. For stock funds, I like putting ~70% of one's money in the Vanguard Total Stock Market Index Fund. and ~30% in a foreign stock index fund. The Vanguard Total Bond Market Index Fund is good for a bond fund. The Vanguard Target Retirement funds can be good all-in-one stock and bond funds for an IRA. (If you have less than 3,000 dollars, you can't invest in most Vanguard funds. For such people I would suggest Schwab funds.) There are many different opinions out there on what the best mutual funds are. Read the links below and form your own opinion. I will warn you that there is a tremendous amount of stock investing books and websites that teach stock investing strategies that don't work. Particularly bad are people that teach "technical analysis" systems that sound impressive, but don't work. I don't know what the interest rate is on your mortgage, but paying off more of your mortgage can be another option. Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
You probably should consult a professional financial advisor. Your investment strategy depends on your long term financial goals. If you have a specific retirement goal in mind, then you can begin to build an investment strategy. Maybe you have other plans, maybe you want to expand your consulting business, or want to plan for future children. The information you provided doesn't give any goals to shoot for, so its impossible for anyone to figure out how to allocate your savings. A financial advisor will work to establish these goals to work from. However generally if you have a very long time horizon (meaning you don't plan to spend your savings for at least 10-20 years), then the stock market is the place to be. In the short run, the market will fluctuate wildly - however over the long term it tends to outperform everything else. Now is an especially good time to consider stocks because interest rates in bank CDs and bonds are insanely low. This is due to a slow economy and the government taking action to re-inflate it. One of the ways the government tries to re-inflate the economy is by printing new dollar bills and spending them (hence the huge government deficits). This can help boost the economy and jobs in the short run, but in the long run leads to a devaluation of the dollar, higher prices (inflation). Bonds, savings accounts, or bank CDs will not protect you from inflation. Stocks will. As prices rise (inflation), businesses simply raise their prices in response to the higher costs. This creates higher business profits and higher stock prices. With a CD or a savings bond, you will just be stuck with a really low interest rate. Overpaying your mortgage may also not be necessary. It depends on what you are trying to do financially but a mortgage carries advantages. The interest is tax deductible. In addition interest rates are extremely low right now and there are a lot of blue-chip stocks who are currently paying dividends which are higher than mortgage interest rates. A lot of people don't like to carry any debt (and I understand that, that is okay), however some people would take advantage of the current economic conditions to make money. A financial advisor would discuss this option with you. Bottom line - -If you have a long time horizon, consider the stock market. visit vanguard.com or another mutual fund for more information. -Set some financial goals -Talk to an investment advisor
I would take $150,000 (keep the $40K as a reserve) and dollar cost average your way into good mutual stock funds. Also, I would put $5,000 per year into a Roth IRA. Open an account with either Vanguard, American Century Investors, or Fidelity. Split your funds up as follows (these are general fund descriptions, each company has their own name for them): About 30% in a US growth fund, 30% in international funds with emphasis on emerging growth countries (China, Brazil, India), 30% in an Income/Growth type fund that pays good dividends and has worldwide exposure, and 10% in a money market account. Take all of the $150,000 for now and put it into a money market at one of these firms. Then each month you will move $5,000 out of that account into a stock fund. The first month, put in $5,000 and open a US growth account, the second month put $5,000 into an international fund and third month put $5,000 into an income/growth fund. Repeat until you have all but $15,000 into stocks. Keep an eye on the financial news. Don't do panic moves out of the funds, but if things start going to hell, all it will take is a phone call to move out of stocks and back into cash.
Penny stocks are loosely categorized companies with share prices of below $5 and with market caps of under $200 million. They are sometimes referred to as "the slot machines of the equity market" because of the money involved. There may be a good place for penny stocks in the portfolio of an experienced, advanced investor, however, if you follow this guide you will learn the most efficient strategies
Roll your old 401(k) over into a IRA. There's no advantage to leaving it in the old plan - with an IRA, you have total freedom to choose the custodian and investments. For your cash, I'd diversify it depending on how much ready access to it you need. Some things to consider: 1. Laddered CDs. 2. Muni bonds. 3. "Tax-efficient" mutual funds. 4. Maybe a portion in stocks, if you're so inclined. The right "mix" depends on your risk tolerance and financial needs.
Your Initial entry point should be in a major correction, not now at a 2 year high of the market...From then on dollar cost average, if you must. Stick with short term bonds and bond funds...Interest will eventually start creeping up, which is bearish for bonds. Gold will self-destruct right after Christmas, the big players might not even wait that long(I'm short gold)
For Retirement , go for a combination of PPF ( with SBI) and a SIP Hodges MUTUAL FUNDS. Avoid pension schemes from insurance companies. Returns are too low. Your pension at retirement depends upon your corpus. Greater the corpus , higher the pension. Create as big a corpus as possible before retirement. On retirement , you can invest part of the corpus in IMMEDIATE ANNUITY and start getting pension. By investing in insurance schemes you are ONLY LIMITING YOUR CORPUS , thereby your pension too.
Invest in Mexico. Mexico is the fastest growing economy in the North American Region. At this time I am offering up to 14.9 APY with your investment in Mexico. that's about 22350 per year and about 2000 per month. you can invest from as little as 20k at 10.68 APY and receive great returns.
Pay off your mortgage