<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Tightening the belt

Tightening the belt

December 4th, 2009 at 03:30 am



should enable us to contribute $1,000 to $1,500 a month to savings/investments, presuming we don't opt for life insurance on me at this point. Now we just have to figure out the specifics. We're thinking perhaps a Roth IRA for each of us, with his being $6,000 a year and mine being $5,000 but that still leaves some money to invest.

In addition, we'll have another $10,000 to $15,000 to invest annually, either in a lump sum or some other fashion. I haven't a clue what to do with that but it seems to me that investing $22,000 to $30,000 a year should help us catch up, right?

If you have thoughts on venues other than a Roth or 401(k) please do share! We're actively researching and considering our options.

Posted in Savings, Investments, H-E-L-P! | 2 Comments »

2 Responses to “Tightening the belt”

  1. baselle Says:
    December 4th, 2009 at 04:02 am 1259899353
    1259899353

    As a possible other venue, supplemental to Roth and 401K, check out I-bonds. They are a fixed income instrument, federal tax deferred, you pay no state or local income tax on them. Interest rates fluctuate on them every six months - they are tied to inflation, so if there isn't any that's not great but they currently pay about 4%. You can only buy 5K/person/yr. Could be a reasonable vehicle for your emergency fund.

  2. homebody Says:
    December 4th, 2009 at 04:02 am 1259899356
    1259899356

    Hopefully because that's what we are doing!

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]