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Re: How do you think you are doing?
I am in about the same place as Divajen. With my husband's new business, things are tighter than they have been, but I don't have the anxiety I would have in the past. Our only debt is our mortage and we have an EF, pensions, retirement funds, and a small college fund. There's room for improvement, but I am pretty happy where we are all things considered.
For those of you who are teenagers and in your early 20s, I think you are extraordinary. I wish I had know then what I know now.
On the investment front, those of you with employer-sponsored retirement plans should have access to some educational opportunities either online or in-person. Definitely take advantage of this. It will help you figure out how much of your mondy should be in allocated in what. My allocation at 40ish is 65% stocks, 25% bonds, and 10% cash.
Also, check your plan offerings against Morningstar's ratings. After the last stock market dip, I switched to only 5 star rated funds. In the process, I found out that most of my company's offerings were 3 stars or less. After the switch, I did a lot better. (I still ride the roller coaster, but the dips aren't as bad.)
Finally, a couple of times a year Kiplinger's personal finance magazines has special editions devoted to safe and simple investing. I have found these very helpful for both general knowledge and specific suggestions. I found the "keep it simple" philosophy works as well in investing as it does in other aspects of life.
I am in about the same place as Divajen. With my husband's new business, things are tighter than they have been, but I don't have the anxiety I would have in the past. Our only debt is our mortage and we have an EF, pensions, retirement funds, and a small college fund. There's room for improvement, but I am pretty happy where we are all things considered.
For those of you who are teenagers and in your early 20s, I think you are extraordinary. I wish I had know then what I know now.
On the investment front, those of you with employer-sponsored retirement plans should have access to some educational opportunities either online or in-person. Definitely take advantage of this. It will help you figure out how much of your mondy should be in allocated in what. My allocation at 40ish is 65% stocks, 25% bonds, and 10% cash.
Also, check your plan offerings against Morningstar's ratings. After the last stock market dip, I switched to only 5 star rated funds. In the process, I found out that most of my company's offerings were 3 stars or less. After the switch, I did a lot better. (I still ride the roller coaster, but the dips aren't as bad.)
Finally, a couple of times a year Kiplinger's personal finance magazines has special editions devoted to safe and simple investing. I have found these very helpful for both general knowledge and specific suggestions. I found the "keep it simple" philosophy works as well in investing as it does in other aspects of life.
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