On 2008-04-12 03:31:33 -0700, trapped in tulsa
<visibleunderwater@[EMAIL PROTECTED]
> said:
> My finance is getting a a back-pay SSI settlement of nearly 70$
> within the next few months. We have been discussing what exactly to
> do with it to help it grow into more. Our high priorities are getting
> a house, getting a new vehicle, then investing the rest in various
> places.
If I were in your position (or your fiance's position), getting the
house would be my first priority and other investment would be my
second. I would make every effort to get by with the old car instead of
getting a new one. As for the investment ****tion, that "holding trust"
you mentioned raises all sorts of red flags and alarm bells, although I
know nothing about such a product. I would investigate things like
no-load mutual funds with low management fees, index funds, and
dividend reinvestment plans (DRIPs). I would make no final financial
decisions until the marriage ceremony has actually taken place. And all
this assumes that your credit card and any other debt is fully paid off
and that you have contributed the maximum to matching company pensions
and tax advantaged savings plans.
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