Thanks, I am registered now...

"Boberto" <baxs1boo[at]hotmail.com> wrote in message
news:6a9641c2.0310031209.2e436bd6[at]posting.google.com...
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[snipped]
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Your needs are more than retirement savings. Since most of your income
depends on your husband's ability to work, your #1 priority should be to
look at disability insurance. This will provide you with an income in case
he has a serious injury or illness.

There are many places on the 'net to begin to acquire information about
investing. Someone on this newsgroup recommended "The Only Investment Guide
You'll Ever Need" by Andrew Tobias. I'm sure this would be a good place to
start learning. Armed with some self-knowledge, you will be better prepared
when it comes to getting the most from a financial planner/advisor.

Elizabeth Richardson

NUMBER 1.......... Pay off all debt.......
stop paying interest, start earning interest....
Cal Lester CLU

(yes, I know that it is un-american not to
spend more than you earn, but try it)
Cal Lester CLU




Boberto wrote:
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--
If you don't care where you are, then you ain't lost

This signature file is generated by Pick-a-Tag !
Written by jeroen[at]vanbaarsel.net

baxs1boo[at]hotmail.com (Boberto) wrote in message news:<6a9641c2.0310031209.2e436bd6[at]posting.google.com> ...
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flow. Keep your credit cards paid off. Pay off your mortgage early.
Not having to pay credit cards or a mortgage is the equivalent of a
big raise. Paying off a mortgage is controversial, I like to think of
it as a slam dunk 5% - 6% (whatever your rate is) investment.

I'm worried about your "don't have much extra cash". Living below
your means is so hard to do. It's what allows capital acculumation
for investment.

If you want to be real investors and occassionaly have large chunks of
time on your hands look into Rental Property investments, Tax Lien
Investing or Trust Deed investing. Real Estate rewards the young who
have years to invest. As a contractor your husband probably rubs
shoulders with people who have expertise in these areas. These are
not hobbies, they are serious part time jobs. 1% a month is a lot
better than 1% a year. High reward = High Risk = High levels of
Education Required.

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I'm sure you've heard the standard advice to have 6-12 months income
readily accessible, especially if your income fluctuates.

You could look at Chaprters 2 & 3 of "Own Your Own Corporation" by
Garrett Sutton. This summarizes C & S Corporations and allows you to
use your financial advisors time more productively. Corporations
allow you to get benefits pre-tax in certain situations. Self
Employed is not always the best way to go. You can read the 15 pages
sitting in the bookstore in one of their comfy sofas. Yes, this is
part of the Hawaiian shirt wearing Kiyosaki Rich Dad franchise.

Best of Luck to You,
Speednxs

In article <6a9641c2.0310031209.2e436bd6[at]posting.google.com> , Boberto
<baxs1boo[at]hotmail.com> wrote:

- quote -

Its the old "we cannot afford a doctor, so we went down to the
local tavern and let the bar tender do brain surgery on little
Jimmy". Of course, no modern sane person thinks that way (well,
other than Christan Scientists and a few other fringe groups).
You need a professional to help you, so go find one. Just like
you figured out how to pick a doctor and dentist, pick out a
financial planner.

- quote -

If you don't have a SEP or Simple plan, that might be the most expensive
20% you ever see in your entire life. You need serious help, and not
having it is costing you serious money. And we haven't even talked
about stuff like insurance and long term disability.

-john-

--
================================================== ==================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
================================================== ==================

My husband and I are in our mid to late 20's and we have a 7 month old
child. We recently purchased our first home, and our combined income
is $115,000.00 before taxes. We really need to get some budgeting in
place, just the basics like a college fund for our son, retirement
fund for us, and a few misc. savings accounts for home improvements,
emergencies and vacations. We don't have much extra cash due to
Daycare costs for our son and dual car payments plus minor credit card
debt. We would like to deal with a professional advisor, but we are
wary of losing our hard-earned money to an unstable market and/or poor
management by a young money-struck accountant or worse yet a poorly
run investment firm.

Can anyone provide us with some advice that has maybe been in our
situation? My husband is the bread-winner out of the two of us, his
salary is considerably larger than mine. The downside is that he is a
contractor and has no benefits, he is also responsible for paying his
own taxes out of his checks. We do save 20% out of each paycheck in a
regular savings account so we don't get burned at least.

thanks for any information!