Quote:
Originally Posted by masraum
Thanks all for the congrats and words of encouragement. This was step one, more we can hopefully start accruing money. I'm looking forward to this next part.
|
Start thinking about the how and why of the next step now: Get smart about what a reasonable return on any investment is given risk, exposure, etc., is depending on where you opt to invest: Stocks, rental property, simple interest, etc.
Learn the basics of investment management, create in your mind what an ideal portfolio looks like now. How much for a rainy day fund, low risk investments, college (if you have kids), tax implications (401's/529 Plan) and the like.
Also think about what you and your wife want to do as an investment team. Any investment outside your financial comfort parameters is likely to cause issues: Are you guys slow and steady, risk adverse, risk happy, etc.?
Again, well done.
Lastly, never think financial people are smarter than you: If they were you wouldn't be talking to them, they'd be anywhere else.