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Originally Posted by billybob
Well, I'm not sure when I would want to buy a house. I guess when I have enough money saved! (3-6 years?)
I suppose that yes, I do need to build up the ol' emergency fund. But once that's in place, then what?
Thanks
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I have a few months to go (Nov., 2006) and I too will be credit card free, but in the meantime I have opened an account with HSBC and Emigrant Direct and have a longstanding savings account with my credit union. I am just sitting back savoring the victory that will soon be mine and reading books on investing too. The advice I have gleaned from some articles is to first build up an emergency fund, know your objectives like when are you going to buy your home, how much do you plan to spend for the house so you can make a decent down payment. Look into the type of mortgage you want to procure, etc. Your goals, according to your post, are to buy a house and fund for retirement. I would be reading material that will help you achieve those goals. Sit back and relax and make notes! You're doing the right thing by saving. Read up on short and long term goals. Go to an investment board and pick up copies of Smart Money and Money Magazine. Glance at websites like
www.wall-street.com/directlist.html for direct-purchase of stocks and companies who pay strong dividends
www.dividendachievers.com and get a feel of investing! Hope this helps as I am a "newbie" at all of this too!
