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Money and Finances
Reply to "All you rich folks - looks like I'm (almost) one of you. What should we do?"
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[quote=Anonymous][quote=Anonymous]1 - definitely discuss with an FA. 2 - don't pay off your mortgage. You probably get a tax deduction from it (the interest portion, tho that may be small) and you are clearly "in the money". 3 - a good FA will tell you how best to invest your money (make sure you are diversified). If I were you, I'd put aside a small amount for "fun" money (vacation, new clothes, whatever) and then be very very strict about leaving the rest in investments for college, retirement, etc. 4 - if you love your neighborhood and it is in a good school district (and even better if it is close-in), then I'd consider remodelling over moving.[/quote] Excellent advice. Childrens education and retirement will be expensive - so definitely talk with an FA re: best way to save for these things. You'd be surprised how fast half a million can go, definitely meet with that FA to stretch and grow it.[/quote]
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