What To Do Now
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What To Do Now
| Tue, 05-05-2009 - 12:46pm |
I do not post very often, mostly just read. I will give an update as to where I am now. My husband and I have been married for 34 years. He was 17 and I was 16 at the time. We raised 4 children and now have 4 grandchildren and 1 great-grandson. We are expecting grandson's 5 & 6 this summer. My husband and I are 51 and 50 respectively. So just did everything fast.
We spend most of our married life in debt. I finally made up my mind to get out of debt for once and all about 2 years ago. This finally happend about 3 months ago. I have $1,000 saved in one savings account in one bank and I now have an additional $10,000 saved in a money market account.


I would:
1- be sure retirement savings are still going on
2- build a new car fund- at some point you'll need it
3- continue to build general savings.
Hi,
Your short story is very nice.
Norma
"Patience is the best remedy for every trouble"- Plautus
You could open yourself a good Roth IRA at some company that has a good steady money making record
A rather straight forward explanation on ROTH IRA:
http://20somethingfinance.com/blog/2009/01/25/roth-ira-basics-in-a-question-and-answer-format/
Don't want to put words in other people's mouth, but I think Mary Ann meant by starting a account to save for your next car, so when it is time to retire your current car(s), you could pay cash for the new one.
Attached is a mortgage calculator. Hope it helps.
http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx
-Kels