Quote:
Originally Posted by keraT
I don't want to be meg rich, nor do I want to save lot of money for retirement only to die before I can retire. What I want is to be comfortable in life? Not to struggle. I know money doesn't buy happiness or comfort but lack of money can take happiness/comfort away.
I am thinking about investing as I am turning 30. I have been very passive about my finance in my 20's. I did the basic like match company % in 401K, then one random day i raised the %. I can't even tell you how much I raised it, it was just so random. I purchased a house with my dad (I paid cash & he fixed up). It is really was for him & he keeps the rental money from it. But if we ever sell it, I'll get the money.
Now I am thinking serious about setting few nest around so I can have the luxury to be stay at home mom if I have kids or not be in position to worry about money. What can I do?
so far I have: 401K (100K), rental place that's half mine (50K), primary home just purchased (200K). I have decent job and have emergency + some extra saving. Ideally I would like to get 1 rental place of my own (maybe a condo) and maybe some stock investment outside of 401K.
What are some nest I should look into for comfortable life?
How much is good? I would say my life is comfortable right now but I live like a bum.
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It sounds like you're off to a good start. Personally, I wouldn't want to be a landlord, but that's up to you. It can be a good way to go if you do your homework, know the local laws, and are good at dealing with people (especially the people who are a pain in the you know what). There's also nothing wrong with contributing more to your 401K. The name of the game is flexibility. Without savings and investments, you are dependent on paid employment. The more savings and investments you have, the more flexibility you have to do what you want, when you want to do it, without worrying about whether or not a paycheck is coming in.
Personally, I like balanced or target date funds for 401K plans. These funds own a mix of stocks and bonds and are easier to stick with for most people than funds that invest only in stocks.
The link from the previous poster explains it all in one blog post, with lots of supporting links for more details.
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