Financial Planner
Out of context: Reply #3
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- Riley1
You're in the states, 20-30's-ish?
I don't have one - but remember that NO ONE knows how any investment will ever perform. We assume that homes & stocks will typically do good over a long period of time.
Def buy a house if you can - they appreciate in value (hopefully) and you can write off the interest (majority) portion of your payments. so even with interest-only loans you're WAY ahead of renters.
Don't overthink stocks, it'll drive you crazy. Just get something that tracks the performance of the S&P 500. Max out any tax-free retirement accounts that are available to you (IRA / 401K) - depends of what type of wage earner you are.
And if you have an employer that will match a 401k, max that for sure.
Obviously don't mess with any credit card debt. (easier said than done)
Renting is a fucking trap.
- +1 on Employer 401k match, just silly not to take advantage of thatfyoucher1
- Renting is a trap? It can be waaaay cheaper than buying when you consider taxes, maintenance, etc.studderine
- only makes sense if you're going to stay at the same place for 30 yrsdoesnotexist
- not necessarily... for tons of people, buying would be a much better financial decision, as rent is often lost moneymonospaced
- http://www.nytimes.c…studderine
- well, yeah, if you're buying a multi-million dollar property it might not be the same :)monospaced
- Good luck renting one too!monospaced