I'm almost 30 and want to start investing for the long haul...?

Question

I have a little over $20k saved up in CD's and money market accounts. My credit is excellent and the only debt I have is my car. I make $50k a year with a good employer but I'm at the point where I want to turn over a new leaf... pay off my car, buy a home, start up a small business. I'm bored and I think my life is too orderly. I don't like being comfortable and want to reach for something.... I'm a capricorn :D What can I put my mind on so that I feel like this is all worth something?

Answer 1

What about a 401(k)?  If your employer offers one, they are a great way to build wealth for retirement.  You could be passing up free money if your employer provides a company match.  

Also, depending on the housing market in your area, buying a home is also a great way to build long term wealth.  If home prices are stable or slowly rising (not too many areas of the country are) then it may be a good time to buy.  Interest rates on mortgage loans are extremely low.

Answer 2

Save your money while you pursue your dream.  Does your company have any horizontal mobility?

Answer 3

The reality is that you have been investing for the long haul by putting away 20K.

Option 1: If your looking to invest for long term consider the slumping real estate market. I cant think of a time where property has been so undervalued.

Option 2: Retirement funding is a great long term safe investment.

Good Luck

Tropper

www.dontdiepoor.com