Quote:
Originally Posted by wj4
Yes, what I have on my side is time since I'm relatively young with no debt. I'm not really looking at the short term return, too risky for me from what I've seen. I'm looking at the really long term side. I've been reading numerous books through out the last year to help me understand the subject more, along with other 'investment' related subjects, ie 401k. My major was not Econ, but always been interested in investing, business, econ, management.
I tried to do what I can on my own, ie dissecting my spending habits and tried to weed out what I can and put the extra money into my high yield saving account, which went wayy down over the course of the last 10 months or so. I wish there's a decent place where I can just dump my saving into and let the power of compound interest go to work.
shift330 - yes, even when the economy is bad, someone is still making money.
Vibing a person is so hard though. You hear stories of sports stars who trust their agent with their millions and would invite them to family events, only to get screwed by the agent sooner or later.
My ultimate goal is financial freedom by my 40's. I don't want to be one of the majority who actually saved -1% until last year. It's not until really last year that I started thinking like this, back then I was still thinking about upgrading to the M3 from the 335, lol. What a fool I would be if I should go through.
I suppose my shorter goal is to own a home by the time I turn 30. I'm 23 now, will get my Masters next Spring. My friends with Masters are getting jobs that start out at around $70k even in this crappy economy. I'm still at home, I have great relationship with my parents so I don't feel the need to move out in a nearby apartment just to throw my money away. If it's for job relocation, then I would have no choice.
Homes around my area average in the $500,000 mark so if I were to be fortunate enough to find a decent career around here, I would definitely put at least 20% on a down. Ah, sorry for the ongoing blabber, lol.
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I'm glad to see that you're intelligent, and that you can actually plan for the future.
What fields did those friends get masters in that landed them $70K jobs right out of college?
Also, are you absolutely set on buying a home in your area around the $500k mark? Because it might be a more viable plan to move somewhere else where you might get more bang for your buck (I don't know exactly what the area is like, but it seems like it could be more on the expensive side?)
Last thing, about your original question. I would suggest going to any friends who are in Real Estate, or ask your dad for suggestions of friends who might be able to refer you to a good financial adviser, and then you can proceed to do what GreenThree said. You've probably already done that though, so maybe go to H&R Block and just start 'shopping' around.
Glad to see that you're thinking for the future
