Through careful budgeting for a few months I’ve paid off enough debts just in time to receive a raise at my job. Now I’m ahead in terms of assets and liabilities, with extra money but what Can i do to Capitalize? and more importantly When can I Capitalize?
This is a difficult one to answer without knowing many other variables, but I will list some items to think about; retirement savings, medical savings- HSA, FSA, LTC, college savings plans for children, emergency savings, investment accounts… Really the list could go on and on. My suggestion would be to speak with a CERTIFIED FINANCIAL PLANNER™ who would be able to run through your entire scenario to come up with a set of specific recommendations.
I think specific recommendations would be the most beneficial thanks !!
But some stock in a good company.Are put it a good bank to make interest.
If you have paid off ALL your debit, then start saving and investing. If you haven’t paid off ALL your debit, including car, mortgage, student loans, etc, put the extra money towards them. You should check out Dave Ramsey’s baby steps and try to follow them.
SAVE IT, in whatever vehicle(s) make the most sense for you. If you’re smart enough and lucky enough, you’ll be old one day. Believe me, it’s no picnic to be retired and poor.
That’s very important advice thank you!
Place it in a high interest saving