Wednesday, May 26, 2010

Financial Advisior needed!?

I graduated college with an Associate Degree in May. I just turned 21 last Tuesday (spent it at work btw). I have had this job for 3 months now as an Electrician at a steel mill. I am working 60hrs/weeks and I am making about $60K/yr. I have $0 C.C. Debt, and $5k in student loans. I baught myself a beautiful Camaro (cash) as a present for myself at graduation ( I also have a very cheap driver car). I live with my parents and have about $300/month in bills.



My goal was to continue living with my parents and to save $50k by my 26th B-day. However, I am saving about $2k per month right now. But the mill I work at is having financial trouble and I am not sure how long they will be around :(



I come from a %26quot;lower middle class%26quot; family and have an incredible desire to be successful but have nobody to go to for advice.



How should I go about investing the money I have now?



1.Pay off my low interest student loan?



2. other options?



Financial Advisior needed!?

go to your bank/investing company and start a roth ira and a 401k. set money aside every month for your bills, your savings account, 401k and ira. no one lives debt free anymore...you will always have bills. pay off your student loan as soon as you can. i also suggest purchasing real estate of some sort. good luck!!



Financial Advisior needed!?

dont buy the books on tv. yeah there's good money in real estate. if you're gonna buy books, donald trump has some books out buy something like that by someone you know has made it and not just trying to make something off you. other than that find a good real estate agent (a good one) they can give you some advice. go to whartons site they have alot of good info there.

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