What was your BEST financial decision ever??

[Bluestreak]

Not buying a house in 2005 when prices were skyrocketing in my area of Arizona was by far my smartest move.

I had considered buying thinking I could just flip it but I knew deep down that the correction in home prices was coming.

Today, prices have come down so much and I have saved up so much money that I can put a nice chunk down on a cheap foreclosure and pay essentially the same amount per month that I currently pay renting an apartment. I am going to wait though as prices are still declining rapidly and I will be of the first to know when they hit bottom in my area.

[adam_c]

Being willing to take a huge risk and change career fields.

We had already started working towards financial freedom, but the career switch was a huge a success that allowed us to be debt free in less than two years on one income so my wife could be at home with our children.

[Bluestreak]

my wife could be at home with our children.

That is invaluable style gold right there for family. Kudos to you.

[arthurb999]

This is a great topic.

[pathill]

I was reading the post of your financial setbacks, now I want to know whats the best financial decision you ever made??

It was when I bought a house. It's a good investment and as well, assures my family that they will be safe and secured.Not much, but an accomplishment for me.

[Thriftina]

1. Getting a great education at a great price so I could get a good job with few loans to pay off.

2. Being frugal, like keeping cars forever, living in a modest house, and eating and entertaining myself fairly cheaply.

3. Not putting all my retirement money in the stock market.

Where else are you putting your retirement money?

[ActYourWage]

Selling my SUV about 4 years ago.

[MiikeB]

Where else are you putting your retirement money?

You can put some in "cash", CD's, MMA and bonds.

[Thriftina]

You can put some in "cash", CD's, MMA and bonds.

That's what I thought but I wasn't sure. This is what I am going to start doing.

[GREENBACK]

You can put some in "cash", CD's, MMA and bonds.

I'm sure this is the most safe route but do you think you'll get the returns you'll need for retirement. I'm curious as well. Do you have other funding for retirement? Even using these items for long term doesn't seem to be paying very well at this point.

[arthurb999]

I have 60% equity, 30% bonds, 10% "cash"

[swanson719]

Our emergency fund has saved us more in the long run than anything else. We make money off the investment property, but when the car breaks down, we save from having to finance because of the emergency fund. A penny saved is really like a nickel earned.

[LuxLiving]

Learning that spending plans must be often altered and tweaked and that giving up on budgeting because it doesn't work out the first time is foolish - must keep working on it until you get out ahead of the bills and that having an emergency fund well-stocked and replinished is #1 PRIORITY! Also, learning to live within our means was vital to us getting out from supporting the credit industry.

[uncle_ank]

when I started saving every month...that makes a huge difference, as long as you have good interest rate...

[JBinKC]

If you asked me a year ago it would have been a simple answer: converting my regular IRA to a Roth.

Now I would say becoming mortgage free in 6 years and selling one of my homes at the top of the market.