It's been a hard day's night...
And I've been working like a dog.
I went to a financial adviser yesterday. It was interesting in some cases. But annoying in the fact that I felt he was more interested in selling his firms products and services than he was in my individual case. It's hard too -- because everyone who talks about managing money is in their 50's or 60's. It's hard for them to remember what it was like when they were first starting out in their early 20's.
Basically I've got some short term savings + my 401K. The question now is how to generate that mid term savings. The options are basically an investment account or a Roth IRA. A Roth IRA you say? Apparently you can withdraw the principal on a Roth to make a down payment on a house. You can't withdraw the interest, nor can you withdraw the principle for a new car. So that's one options that has some limitations. I'm thinking that an investment account might be the best bet. I would like to have a little bit more in my savings account before opening an investment account. I'll probably do my taxes this weekend -- and try to throw my return into the savings account. I want to have some liquid assets right now for when I get a new job and have to survive for a week or two without a paycheck while I move - plus anything the company doesn't cover -- or if I'm getting reimbursed for anything.
Things are starting to come together. I'm starting to have a real budget and real savings.
I went to a financial adviser yesterday. It was interesting in some cases. But annoying in the fact that I felt he was more interested in selling his firms products and services than he was in my individual case. It's hard too -- because everyone who talks about managing money is in their 50's or 60's. It's hard for them to remember what it was like when they were first starting out in their early 20's.
Basically I've got some short term savings + my 401K. The question now is how to generate that mid term savings. The options are basically an investment account or a Roth IRA. A Roth IRA you say? Apparently you can withdraw the principal on a Roth to make a down payment on a house. You can't withdraw the interest, nor can you withdraw the principle for a new car. So that's one options that has some limitations. I'm thinking that an investment account might be the best bet. I would like to have a little bit more in my savings account before opening an investment account. I'll probably do my taxes this weekend -- and try to throw my return into the savings account. I want to have some liquid assets right now for when I get a new job and have to survive for a week or two without a paycheck while I move - plus anything the company doesn't cover -- or if I'm getting reimbursed for anything.
Things are starting to come together. I'm starting to have a real budget and real savings.
Comments