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Need ANY help
Old 10-09-2004, 07:21 AM   #1
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Need ANY help

I need any help with where to put my money. I'm almost 37. My gross annual salary is 86k a year. My company pays for my housing and vehicle. My only expenses are food, and the little I put on my credit card (the balance is always paid in full). I'm tax-exempt as I'm overseas and a Florida resident. I have $6500 in a previous company's 401k (haven't rolled it over) and I'm putting $1050 a month in my current 401k and it's at $6000. I have a money market that has $8000 in it. I have alot of surplus cash each month and no idea what to do with. Any help is appreciated.
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Re: Need ANY help
Old 10-09-2004, 07:41 AM   #2
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Re: Need ANY help

I would start with maxing out your 401K and funding a Roth IRA as well.

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Re: Need ANY help
Old 10-09-2004, 08:37 AM   #3
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Re: Need ANY help

401k is maxed up to the point I don't have to pay taxes on the contributions.
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Re: Need ANY help
Old 10-09-2004, 11:54 AM   #4
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Re: Need ANY help

Wow, you're in a great place financially !!! Since you're maxing out your 401k and your Roth, I'd open a Vanguard account and sock away the after tax money.

I automatically transfer money twice a month from my checking account into my Vanguard account. Most of it gets put into the Total Market Index fund and the rest goes into a money market fund. I just pulled some out of the money market fund to pay for a car.

This method works really well for me as I only spend what I have left in my checking. Also, I am investing in the market without having to think about it. It's like an auto-budgeting/auto-investing approach that takes very little effort.

Best of luck to you,

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Re: Need ANY help
Old 10-11-2004, 04:37 PM   #5
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Re: Need ANY help

how about doing some reading on investments as well. it sounds like you're starting to develop an interest in it. i'd reccomend Security Analysis and Beating The Street. those books are classics and they'll really get you excited about investing and help you to decide which direction is the best for you, whether it's passive investing through index funds or controlling your own destiny through controlling a portion of your portfolio. the key for me has been activelly managing most of my portfolio. it keeps my "mind in the game" so to say. i don't kno how many are like me, but if i wasn't involved in the process, i wouldn't stay interested in it.
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Re: Need ANY help
Old 10-11-2004, 07:48 PM   #6
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Re: Need ANY help

And if you're too busy working to take on the "job" of managing your investments, I'd recommend other readings: The Four Pillars of Investing by William Bernstein; What Wall Street Doesn't Want You to Know, by Swedroe.

Check out the columnist Scott Burns, and the website Actually, you can start at that last one, the Coffeehouse Investor; it might give you all you need!

You are doing a great job and you'll be happily headed for ER in not too many years. Good work! and welcome!

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Re: Need ANY help
Old 10-12-2004, 04:54 AM   #7
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Re: Need ANY help

Buy Vanguard Target Retirement 2035. 65-37 = 28 yrs. So hand grenade wise in 2035 you'll be in your 60's and hopefully retired.

There is no need to do anything else - it's that simple.

Of course if you are male - there's this biological imperative.

It's not at all necessary - but if you have no other interests - I'd start with Bogle and Ben Graham, then Bernstein. The others mentioned are probably good also. Twp more - Geraldine Weiss and David Dreman.

Then you can waste a lot of time deciding whether you're a Boglehead, slicer and dicer, individual stock picker, etc., etc.

I, of course, put a little money in all camps. The bulk being balanced index(75% Boglehead).

Put as much as you can, as early as you can, and just leave it as long as you can in a broad based low cost diversified fund appropriate for your age and go fishing in your spare time instead of wasting time picking/worrying about investing.

After 38 years of investing - I finally figured out that doing nothing is a very effective investment policy.

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Re: Need ANY help
Old 10-12-2004, 07:16 AM   #8
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Re: Need ANY help

Hi unclemick. "Doing nothing" can also be an effective
policy for living in ER if you work it right. Of course, no one wants to just sit and stare into space. Plenty of time for that later on. However, removing the
deadlines and commitments and shifting your plans
on the fly (or not planning your day at all) can be quite
enjoyable. BTW, I like your "do nothing" advice
vis-a-vis investments. I spend some time on mine
but try to keep it to a minimum.

John Galt

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