What to do?
Hi Forum :o)
I have visiting this website for several years and always found great answers....hope you can help with this one!
We are in an unusual situation, I guess. I am in my early 30s, hubby late 30s. We own our home free and clear (no mortgage). We have paid off our student and car loans and our only current outstanding debt is approx. $9,000 on CC, all at low interests. I am paying them off aggressively, and my goal is to be free of that debt in the next 2 years.
OK - I understand some of you will be screaming at me for investing our money in paying off our home, instead of into investments, but the feeling of having no mortgage just outweighs the other stuff.....
Now - my questions.....;being debt free is all well and good, but we have very little saved for our retirement, so I want to start turning my attention to that. I currenlty invest a small % of my income into the company 401K. They do not match until I have been there a year. I am allowed to invest up to something like 80% of my income (as long as I don't exceed the max allowed $$-wise). Right now my spare $$ is going on paying off the CCs. Hubby is self-emplyed, therefore no comapny 401K or matching etc.
So - considering our future retirement investments are pretty paltry......and we plan to focus on them aggressively, what/where/how should we be investing?? I really haven't a clue where to begin, what to do, anything. I will increase my contributions once the company match kicks in, but what else should I do at this point???
Thanks in advance -