Reply to If you have an HHI under 200k and no family money, where do you go for financial advice

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Reply to "If you have an HHI under 200k and no family money, where do you go for financial advice"

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[quote=Anonymous][quote=Anonymous]- mandatory retirement savings and get 100% of  employer match.

- aggressively pay off all debts.  Refinance mortgage if the rates are good

- live pretty frugally.  Find gigs like small scale catering, babysitting, laundry, dog walking, before and after care - (even if SAH parent),

- buy a home that does not bankrupt you

- college savings? start small.  First save for 2 years of community college tuition. That takes away the extreme stress and anxiety.  Then stretch it to cover - 2 years of in-state public college. 
 Now, in worse case, your kid can go to CC for 2 years and in-state for next 2 years.  Now, stretch for the full 4 years of in-state public college tuition.    So on and so forth.  Don't think that you have to have 1/2 million of college tuition.  It is dumb and it does no favors to you or your kid.

- If you do not have insider knowledge and lots of money - go for an index fund.

- Under 200K is a good HHI.  You can choose - retirement, good choice of housing, college.   No need to keep up with the Joneses.

- Finally - Invest your time in your health, your kids, your relationships and in acquiring skills and knowledge.  You can be very wealthy - but if you raised your kids to be terrible humans, or your relationship/marriage fails, or you have health problems - then I think you are not successful in life. 
[/quote]
This is all great advice. [/quote]

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