Im 40, wife is 37 and we have our 1 child (10 months old)
Im self employed. I net around $150k pre tax and she nets around $35k after taxes.
Goal is to make money to pay off our house faster and build for retirement.
Wife maxes out her 401k at work. I have to do my own investing or the rest of our investing.
Not opposed to risk but would would like maybe 40% be risk 60% be safer investments.
I dont have a lot invested currently as most of our savings went to the down payment of our of current house which we will be in for at least 18 years (until our daughter graduates.) And to paying off our student loans. I own about $5k in stocks that I bought a year ago.
Mortgage is our only debt. Cars are paid off. Credit cards are paid in full monthly.
Ideally would like to retire in 20 years when I am 60. Dream scenario is we would also have enough money to buy a cabin in the northwoods a couple of hours from our house. I have also thought about buying a property like this to airbnb as some extra income and to help with the mortgage and taxes on the property.
I am meeting with a financial adviser next week that came recommended from my CPA and is her FA.
I am also hoping some of the investment can be used as a first page deduction and hopefully drop us down a tax bracket.
I used $1k a month as a starter. I can invest more than that but it seems like a good start.
Thanks
Submitted November 25, 2018 at 02:34AM by Birdknowsbest21 https://ift.tt/2PU6eEg
