What's my next step? Point me in the right direction...

Mar 31, 2005 4 Replies

Ok here's the deal;



I own a basic home, a boring car, and 2 rental properties, and I currently max out my 401k and IRA. I have 0 debt, except the mortgages on the real estate. My goal is to save as much as possible to be financially independent as soon as possible. I have about $1000/month leftover to invest/save, and I don't know where to put it. I am overwhelmed with the options out there, be it traditional investment options like stocks and bonds and mutual funds, or something a little more creative like Reits, tax liens, rentals, and even rehabbing real estate.



I worked with a financial planner for a short period, and was disappointed in the advice or rather the sales pitch I heard every day.


Should I be buying books and reading every night, tracking down another financial planner (perhaps a fee-only), or just paying down mortgage balances ?



If you have been in my position and now feel that you have a firm grasp of every investment option, and what's right for you, what did it take to get you there? Books, College classes, professional assistance?



Find an independent financial planner, not a stock broker or insurance salesman dressed up as one.

On the self help front learn what your risk tolerance is.

How old are you?

mortgages

$1000/month

You're doing fine.

another

You should always be learning. Since, you only need advice, a fee-only financial planner might satisfy your needs. Paying down the mortgage balances is certainly one solution, but you might want to diversify into the stock market to reduce your financial risk.

I read books and financial publications. Outside of owning my own home, most of my financial investments have been stocks and bonds.

insurance

24

mortgages

$1000/month

another

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