Tuesday, June 24, 2008

Financially Stable. Now what?

As I've become more familiar with personal finance blogs, I've slowly come to realize that I am very blessed. Most of the finance blogs are about getting out of debt and reaching the point where we are now.

  • Our Credit Cards are paid off

  • We have money set aside to pay off our student loans before they start charging interest (and it's making interest for us in the mean time).

  • Our car payment is 0% interest, so there's no rush to pay it off ahead of time.

  • We have more than $2000 sitting in ING doubling as an emergency fund and a start on a house down payment.

  • We're putting away 15% of my salary into a 401k

  • Shoot. We've even got a budget.

Ok. Great! Now what?

Now What?

Well, we want a house, so we're putting more money aside each month for that. We know that we're still spending more than we need or want to and we're trying to trim the fat. That one's a continual process though.

Beyond still saving, I'm not really sure what our next stratigic move is supposed to be. If we had a house it would probably be investing. There are plenty of sites that talk about investing. My problem with that is that we want our money back in 6 or so months for a house down payment -- I don't want to make that short term of investments, I want long term stuff.

In other words I have no idea what the next step is. Maybe it's time to buy a new car (I kid!).


Brack said...

yeah - I wouldn't kill to be in your position, but I might maim.... lol

that's awesome! congrats!! wish I could speak from experience on where to go from there... :-D

Rich said...

After looking at GRS today (estimating needed retirement funds) though, we're not that far apart really. -$78,000 isn't *that* much compared to how far financially we both are from retirement.

I've only got $1200 or so in my 401k so far, so both of us still have many hundred thousand dollars to save up still.