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We are scared scared scared of investments losing money having been burned in the past so are invested VERY conservatively in MM accounts even in the investment accounts.

Congrats on saving well, but you are right to want to stop living scared and invest. With your income, it sounds like ordinary expenses are not going to be a concern in the near-term. I try to keep my cash holdings down to what is necessary for regular cash flow.

I would probably invest in low fee mutual funds, with roughly the following breakdown: Some of your cash, however, should probably be used for cash flow to ensure that you can max out both 401ks and take full Roth contributions each year, which in total would be about 45k in annual retirement savings. The tax savings in 401k and Roth are too good to pass up in my view, if you are able to get them. No inheritance just good old fashioned saving and payday payday loan no broker loans el paso tx DIY.

I still remember the federal income tax percentage - 1. The only inheritance we got was a 10 year old car from my parents when I graduated.

Dividend oriented funds are usually less volatile and hold up better in bad times. Another good conservative allocation fund is Berwyn Income. Dividend oriented funds are usually less volatile and hold up better in bad times. Another good conservative allocation fund is Berwyn Income. At age 32, I think this recommendation is too conservative.

In an unforeseen emergency, you can sell stocks and bonds. I would say that 2 months of expenses in cash is perfectly adequate, and less would be preferable. Just shot in the dark, since you are so handy and such a quick learner, perhaps you could look into investing in rental properties. You could also do flips, but personally I think buy-and-hold is a better way to build up wealth. The frugal forum is full of people doing the former, but not the latter.

People in the frugal forum doing things well, or not? I think this article gets to the heart of what he was getting at: I heard something on the radio this morning that got me fired up.

It was a segment about tips on how to save more money. What came was a predictable list of brew your own coffee, buy generic products, and bring your lunch to work! Most workers reading this article earn enough money to be saving a lot of it.

In an unforeseen emergency, you can sell stocks and bonds. I would say that 2 months of expenses in cash is perfectly adequate, and less would be preferable. As you hear the good scientists say all the time, there is no infinite growth in a finite planet. Some forums can only be seen by registered members.

OP, the key for you is a little education about investing. A little education will help you avoid the big mistakes, such as being too aggressive (for you) and overreacting when the inevitable happens.


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Invest monthly into that index fund, payday loan no broker making sure to only invest what your not going to need to touch for at least 20 years. I think you are absolutely right about the bold, but I think the OP is kind of a blank slate when it comes to investing, and going for a solid allocation now is a good idea. Whether you are buying mutual funds that are primarily bonds or stocks, those funds are a far cry from keeping cash in a bank account that shows that balance every time you draw money from an ATM or check your monthly statement. Bond fund or stock fund, the OP needs to park money in investments and forget about it until the money is ready for use. I think the big psychological step here is investing the money in the first place. Buying stock mutual funds is not like buying payday loan no broker individual stocks--you can just invest and forget. Invest monthly into that index fund, making sure to only lender loans invest what your not payday loan no broker going to need to touch for at least 20 years. This strategy would be better than bond funds, in my view. I think you are absolutely right about the bold, but I think the OP is kind of a blank slate when it comes to investing, and going for a solid allocation now is a good idea. That fear is somewhat reasonable, but also blown out of proportion.

He has the luxury of being a little too conservative. Of course, neither of us can really get into the mind of the OP. The OP has to learn to know himself and his situation and learn to take his emotions into account without letting them run wild. Whether you are buying mutual funds that payday loan no broker are primarily bonds or stocks, those funds are a far cry from keeping cash in a bank account payday loans in nc that are legal that shows that balance every time you draw money from an ATM or check your monthly statement. Bond fund or stock fund, the OP needs to park money in investments and forget about it until the money is ready for use. I think the big psychological step here is investing the money in the first place.

Buying stock mutual funds is not like buying individual stocks--you can just invest and forget. I admit to checking my balances too often, but I rarely make changes. I set up my 401K to automatically rebalance every quarter. This strategy would be better than bond funds, in my view.

That fear is somewhat reasonable, but also blown out of proportion. He has the luxury of being a little too conservative. Of course, neither of us can really get into the mind of the OP. The OP has to learn to know himself and his situation and learn to take his emotions into account without letting them run wild.

I admit to checking my balances too often, but I rarely make changes. I set up my 401K to automatically rebalance every quarter. I definitely think our disagreements are on the margins, but we have the same basic idea for the OP--stop letting your cash and money market funds inflate away!

I think that the approach you suggested would be an excellent allocation for someone in their mid-50s. I definitely think our disagreements are on the margins, but we have the same basic idea for the OP--stop letting your cash and money market funds inflate away! I think that the approach you suggested would be an excellent allocation for someone in their mid-50s. Because, IMO, human psychology trumps what you should do based on your age in almost every instance.

Your allocation suggestion is likely to cash in 15 minutes be more optimal in terms of absolute returns, but only IF the OP sticks with it. This strategy would be better payday loan no broker than bond funds, in my view. If you go by pure math and are disciplined enough not to let emotions effect your investment decisions, the strategy I outlined is by far one of the most solid ones to follow for guaranteed returns over the long term. Some forums can only be seen by registered members. After you I keep seeing posts about collection agencies trying to collect debts and it cracks me up. When you know your rights they become a big joke!!! You have not agreed to the assignment of the debt in writing or verbally. You have not received goods or services (consideration) from the collection agency. In fact, once you get a collection letter you should NEVER talk to them.

The only way a collection company can collect one of your old debts is if you allow it. You same day loan online can allow it by either agreeing to the assignment in writing, or by making a promise to pay them something. By doing that, you have, in effect, given them permission to collect it. You send a series of 3 or so letters asking for validation of the debt.. By the way, this is an affirmative defense if the original creditor ever tries to sue you. But you still have to get the agency to stop trying to collect it. The bureau listing is just the blackmail part to get you to deal with the collection agency. By the way, if the CRAs verify it and the collection company still tries to collect after not sending you anything.

Keep a log of what you do in case you need proof (and copies of all letters sent and received of course). Even if the bureau takes it off the first time you ask, still send at least the first 2 validation letters to the collection company. If they ever try to send it to another colleciton company, repeat the process and send the validations to the original creditor too. Just deal with the collection agency and the CRAs for now. I keep seeing posts about collection agencies trying to collect debts and it cracks me up.

When you know your rights they become a big joke!!!

In fact, once you get a collection letter you should NEVER talk to them. The only way a collection company can collect one of your old debts is if you allow it. You can allow it by either agreeing to the assignment in writing, or by making a promise to pay them something.

By doing that, you have, in effect, given them permission to collect it.

Actually, you have agreed to the assignment of a defaulted debt to a third party (CA).

If a person takes the time to read the fine print in the contract with the OC then they would realize it.. We may assign your Account, any amounts you owe us, or any of our rights and obligations under this Agreement to a third party.

The assignee will be entitled to any of our rights that we assign to that person.

By the way, this is an affirmative defense if the original creditor ever tries to sue you. There is no requirement for them to respond to a DV in either the FDCPA or in any state that has their own version of a FDCPA. If the DV is not sent timely then there is no violation if they verify an accurate listing, or, if they verify along with correcting the inaccuracy.

But you still have to get the agency to stop trying to collect it.

The bureau listing is just the blackmail part to get you to deal with the collection agency.

By the way, if the CRAs verify it and the collection company still tries to collect after not sending you anything. Keep a log of what you do in case you need proof (and copies of all letters sent and received of payday loan no broker course). Even if the bureau takes it off the first time you ask, still send at least the first 2 validation letters to the collection company. Sorry but not all states consider credit cards as Open SOL accounts. Why is that you may ask, especially when the TILA places cards as Open SOL accounts? But case law can change the nature of the statute in a heartbeat. If they ever try to send it to another colleciton company, repeat the process and send the validations to the original creditor too. Just deal with the collection agency and the CRAs for now. I have another medical bill outstanding and I called the provider the other day to pre-empt them sending it to collection. Validation of debt is required once it is desired, in writing, and the collector must respond before any other contact can be made. It must be done if asked for orally but it the burden of proof is better with written. I used to get calls around the economic crisis that they are collecting on a past due debt.

None of which were in states I had lived in or companies I remember having done business with. I asked each one to send me proof that I owed the debt...

One collector tried to just say I owed it again and again instead of either hanging up or sending the letter.

They want people that will pay as much as possible as quickly as possible.