Hello!
This is my first post. I have been reading so many wonderful posts and replies that have been really helpful. THANKS to ALL!!
I am 48 years old and single (no kids either). I own my home outright. (paid off mortgage very early) No car payments, credit card debt or really any debt. I have always been frugal and spend money wisely. I would love to escape the 9 to 5 grind. I would be happy not working or just working part time, but there are always health benefits to consider.
I lost my job recently, but I am now working again full time at just under $40,000.00 per year. (pay cut)
I could probably live on 15,000.00 per year comfortably. I would rather not have the best of everything and would rather do without the latest gadgets, fancy meals, new cars, paying for services for things I can do myself and so on. I would rather live simply (but comfortable) without having to work endlessly to pay for items that are not really needed.
I am saving like mad, since Sept of 2010, I have saved at least $17,000.00 from my pay. I plan on keeping this savings rate going.
I suppose that I will need to work at least another 5 years, but probably 7 to 10 years before I can pull the plug?
I have about 50,000.00 each in an IRA and a ROTH IRA. I have about 112,000.00 sitting in a money market account. My credit union has a 2.30 CD for 3 years. I am tempted to do open this with the 112,000.00, but wonder if there is something better? I am not very savvy with investing and I think that I would be interested in a safe, slow but steady way to invest. I have a terrible feeling that we are due for another market "correction", so I keep putting it off. Does anybody have any suggestions or comments for investment ideas or as far as where I stand?
Many here have much larger balances to count on and are more savvy with investments, but I was wondering how others think that I am doing?
Thanks!
This is my first post. I have been reading so many wonderful posts and replies that have been really helpful. THANKS to ALL!!
I am 48 years old and single (no kids either). I own my home outright. (paid off mortgage very early) No car payments, credit card debt or really any debt. I have always been frugal and spend money wisely. I would love to escape the 9 to 5 grind. I would be happy not working or just working part time, but there are always health benefits to consider.
I lost my job recently, but I am now working again full time at just under $40,000.00 per year. (pay cut)
I could probably live on 15,000.00 per year comfortably. I would rather not have the best of everything and would rather do without the latest gadgets, fancy meals, new cars, paying for services for things I can do myself and so on. I would rather live simply (but comfortable) without having to work endlessly to pay for items that are not really needed.
I am saving like mad, since Sept of 2010, I have saved at least $17,000.00 from my pay. I plan on keeping this savings rate going.
I suppose that I will need to work at least another 5 years, but probably 7 to 10 years before I can pull the plug?
I have about 50,000.00 each in an IRA and a ROTH IRA. I have about 112,000.00 sitting in a money market account. My credit union has a 2.30 CD for 3 years. I am tempted to do open this with the 112,000.00, but wonder if there is something better? I am not very savvy with investing and I think that I would be interested in a safe, slow but steady way to invest. I have a terrible feeling that we are due for another market "correction", so I keep putting it off. Does anybody have any suggestions or comments for investment ideas or as far as where I stand?
Many here have much larger balances to count on and are more savvy with investments, but I was wondering how others think that I am doing?
Thanks!