Doc answers:

You can invest in an IRA at a mutual fund company. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low-expense funds. If you are like most people you will invest part of your money aggressively in stock funds, and part conservatively in money market funds and bond funds. Vanguard has an on-line questionnaire which will give you an idea of how to do “Asset Allocation,” determining how much to put in each type of fund.

I like their Target Retirement funds. However, there are many different opinions out there on what the best mutual funds are. Read the links below and form your own opinion.

If you have high-interest debt, like credit cards, it is best to pay this off first before trying most of the investment ideas above.

Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
Sources:

http://www.vanguard.com/VGApp/hnw/planningeducation

http://www.fool.com/school.htm

http://sec.gov/investor/pubs/assetallocation.htm

http://www.diehards.org/readsites.htm

http://finance.yahoo.com/education/begin_investing

http://finance.yahoo.com/funds/basics

Asset Allocation Calculators
(Determining how much to put in stocks and how much into bonds and money markets is a personal decision depending on your financial status. These Asset Allocation questionaires give you a rough idea how to do this. I like Vanguard best, but try some of the other sites as well.)

https://personal.vanguard.com/VGApp/hnw/FundsInvQuestionnaire?cbdInitTransUrl=https%3A//flagship.vanguard.com/VGApp/hnw/planningeducation/education

https://ais2.tiaa-cref.org/cgi-bin/WebObjects.exe/DTAssetAlcEval

http://www.ifa.com/SurveyNET/index.aspx

Web forum: http://www.diehards.org/
(Many investment web forums are overrun by scam artists. This one seems the most legitimate site.)

Doc answers:

Standard investment advice is that you should invest in a diversified mix of stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks as individual stocks are too risky. Most folks have a dificult time buying a properly balanced portfolio of stocks on their own. They will misbalance their portfolio by buying all small stocks or all growth stocks, or some other misbalanced assortment of stocks. Unless you know what you are doing, it is best to buy mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low -expense funds. If you are like most people you will invest part of your money aggressively in stock funds, and part conservatively in money market funds and bond funds. Vanguard has an on-line questionnaire which will give you an idea of how to do “Asset Allocation,” determining how much to put in each type of fund.

I would put the maximum you can into the government TSP savings plan. The money grows tax free. Investing in a mutual fund IRA is also a good idea. If you have children, you may want to consider a 529 plan or other college savings plan that grows tax free.

I like index funds. Because of their broad diversification, you are less likely to have a dramatic drop in value. They also have the lowest expenses. For stock funds, I would suggest putting ~70-80% of your money in the Vanguard Total Stock Market Index Fund. And ~20-30% in a foreign stock index fund. However, there are many different opinions out there on what the best mutual funds are. Read the links below and form your own opinion.

If you have high-interest debt, like credit cards, it is best to pay this off first before trying most of the investment ideas above. You should also have 3-6 months of salary saved up as an emergency fund in a bank or money market fund before trying more risky investments.

Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
Sources:

http://www.vanguard.com/VGApp/hnw/planningeducation

http://www.fool.com/school.htm

http://sec.gov/investor/pubs/assetallocation.htm

http://www.diehards.org/readsites.htm

http://finance.yahoo.com/education/begin_investing

http://finance.yahoo.com/funds/basics

Asset Allocation Calculators
(Determining how much to put in stocks and how much into bonds and money markets is a personal decision depending on your financial status. These Asset Allocation questionaires give you a rough idea how to do this. I like Vanguard best, but try some of the other sites as well.)

https://personal.vanguard.com/VGApp/hnw/FundsInvQuestionnaire?cbdInitTransUrl=https%3A//flagship.vanguard.com/VGApp/hnw/planningeducation/education

https://ais2.tiaa-cref.org/cgi-bin/WebObjects.exe/DTAssetAlcEval

http://www.ifa.com/SurveyNET/index.aspx

Web forum: http://www.diehards.org/
(Many investment web forums are overrun by scam artists. This one seems the most legitimate site.)

529 plans: http://www.savingforcollege.com

Doc answers:

You should invest in a diversified mix of stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks as individual stocks are too risky. Most folks have a dificult time buying a properly balanced portfoilio of stocks on their own. They will misbalance their portfolio by buying all small stocks or all growth stocks, or some other misbalanced assortment of stocks. Unless you know what you are doing, it is best to buy mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money aggressively in stock funds, and part conservatively in money market funds and bond funds. Vanguard.com has an on-line questionnaire which will give you an idea of how to do “Asset Allocation,” determining how much to put in each type of fund.

If your company offers a 401K plan at work, try to invest the most you can. The money grows tax free, and some companies will match your contribution. Investing in a mutual fund IRA is also a good idea. If you have children, you may want to consider a 529 plan or other college savings plan that grows tax free.

I like index funds. Because of their broad diversification, you are less likely to have a dramatic drop in value. They also have the lowest expenses. For stock funds, I would suggest putting ~70-80% of your money in the Vanguard Total Stock Market Index Fund. And ~20-30% in a foreign stock index fund. However, there are many different opinions out there on what the best mutual funds are. Read the links below and form your own opinion.

If you have high-interest debt, like credit cards, it is best to pay this off first before trying most of the investment ideas above. You should also have 3-6 months of salary saved up as an emergency fund in a bank or money market fund before trying more risky investments.

Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.

Sources:

http://www.vanguard.com/VGApp/hnw/planningeducation

http://www.fool.com/school.htm

http://sec.gov/investor/pubs/assetallocation.htm

http://www.diehards.org/readsites.htm

http://finance.yahoo.com/education/begin_investing

http://finance.yahoo.com/funds/basics

Asset Allocation Calculators
(Determining how much to put in stocks and how much into bonds and money markets is a personal decision depending on your financial status. These Asset Allocation questionaires give you a rough idea how to do this. I like Vanguard best, but try some of the other sites as well.)

https://flagship.vanguard.com/VGApp/hnw/FundsInvQuestionnaire?cbdInitTransUrl=https%3A//flagship.vanguard.com/VGApp/hnw/planningeducation/education

https://ais2.tiaa-cref.org/cgi-bin/WebObjects.exe/DTAssetAlcEval

http://www.ifa.com/SurveyNET/index.aspx

Web forum: http://www.diehards.org/
(Many investment web forums are overrun by scam artists. This one seems the most legitimate site.)

529 plans: http://www.savingforcollege.com

Doc answers:

Standard investment advice is that you should invest in a diversified mix of stocks, bonds, and money market funds. If you are like most people you will invest part of your money aggressively in stocks, and part conservatively in money market funds and bond funds. However, some young people will go all stocks, and some very conservative people will go all money markets. The links below have on-line questionnaires which will give you an idea of how to do “Asset Allocation,” determining how much to put in each type of investment.

You want to buy a diversified portfolio of stocks as individual stocks are too risky. Highly knowledgeable people can buy a properly balanced portfolio, but most folks have a difficult time balancing things on their own. They will misbalance their portfolio by buying all small stocks or all growth stocks, or some other misbalanced assortment of stocks. Back in 2000, Some people bought all Internet stocks; they got burnt when they all crashed together. You have to diversify across industries. Unless you know what you are doing, it is best to buy mutual funds that will diversify for you. Buy no-load, low cost funds. Mutual funds should have expense ratios of less than 0.5%.

If your company offers a 401K plan at work, try to invest the most you can. The money grows tax free, and some companies will match your contribution. Investing in a mutual fund IRA is also a good idea. If you have children, you may want to consider a 529 plan or other college savings plan that grows tax free.

I like index funds. Because of their broad diversification, you are less likely to have a dramatic drop in value. They also have the lowest expenses. For stock funds, I would suggest putting ~70-80% of your money in the Vanguard Total Stock Market Index Fund. And ~20-30% in a foreign stock index fund. The Vanguard Total Bond Market Index Fund is good for a bond fund. The Vanguard Target Retirement funds can be good all-in-one stock and bond funds for an IRA. However, there are many different opinions out there on what the best mutual funds are. Read the links below and form your own opinion.

If you have high-interest debt, like credit cards, it is best to pay this off first before trying most of the investment ideas above. You should also have 3-6 months of salary saved up as an emergency fund in a bank or money market fund before trying more risky investments.

I will warn you that there is a tremendous amount of stock investing books and websites that teach stock investing strategies that don’t work. Particularly bad are people that teach “technical analysis” systems that sound impressive, but don’t work.

Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.

(all links are to non-profit groups or to Yahoo sites. None are solicitation)

http://finance.yahoo.com/education/begin_investing

http://finance.yahoo.com/funds/basics

http://www.vanguard.com/VGApp/hnw/planningeducation

http://sec.gov/investor/pubs/assetallocation.htm

http://www.bogleheads.org/wiki/Main_Page

Asset Allocation Calculators:

https://personal.vanguard.com/VGApp/hnw/FundsInvQuestionnaire?cbdInitTransUrl=https%3A//flagship.vanguard.com/VGApp/hnw/planningeducation/education

https://ais2.tiaa-cref.org/cgi-bin/WebObjects.exe/DTAssetAlcEval

Doc answers:

The HOA convenants might allow them to do that, but it would be highly unusual in a detached home community. If you actually own your lot, it is unlikely they would be able to dictate this.

If the rules of the association do not provide for this, it sounds like someone on the board is getting a little power-mad, and can’t see why everyone wouldn’t want to use the same company and get a volume discount or something.

I would tell them that this does not particularly interest you, and you’d like for them to cite the section of the convenants or bylaws that lets them dictate this.

Doc answers:

You have no contract with the actual property owners, therefore you can’t claim any right to be on their property. All you can do is sue the person who subletted his space out to you for failing to honor his obligations. I do hope he put them in writing.

Doc answers:

Do this, find out how much your homeowner’s associations is per year and then open up a Christmas savings account or similar account at the bank.

Deposit an amount that would cover your dues at the end of the year.

This way, you get to keep the interest and have control over your finances. You don’t have to wait for Countrywide to do it for you.

Be Proactive!!

El

Doc answers:

In the performance of their duties they can solicit input from other tenants in an effort to protect all members of the community.~

Doc answers:

You can go to www.treasurydirect.gov to find out the answers to any/all questions you have about your U.S. Savings Bonds.

Once at the homepage go to the Quick Links for Individuals section and click on “EE/E Bonds In Depth”.

Example: To find out the value of your bonds click on the “Tools” tab, then click on “Savings Bond Calculator”. Click on “Get Started”. Enter the necessary information.

Also, you can look in the section titled “Research Center” on the left side of the same screen as the Tools tab.

1. You can click on “Tax Considerations” for tax information.

2. You can click on “Product FAQ’s. When that page comes up click on the question “What is the Education Savings Bond Program”.

3. You can click on “Rates & Terms” for information on:
Interest earning life, Original maturity for paper bonds, Tax advantages.

Doc answers:

Just bring them into any bank or credit union with proof of your identity. Tip, use the calculator to find out what your bonds are worth. Banks sometimes make mistakes on bond redemption. Yes you pay federal income tax but not state tax. The interest is just added to your earned income. There is a line on the 1040 for interest income. Just figure your tax in the usual way after the interest is added in.

Doc answers:

Sorry for the bad news.
But a bank will most likely require you to have 2 years worth of solid employment to qualify for a mortgage.
They will also require a down payment. You make no mention of savings.
Google:
How much Home Can I afford Calculator

http://www.bankrate.com/calculators/mortgages/new-house-calculator.aspx

That way you can play with the numbers. And you can input your debt which will lower the amount of home you will qualify for.
Rent something super cheap so you can put 20% down and avoid that nasty PMI that can cost thousands a year. Buy less than the max so you can save for trips, vacations, nice cars, and future kids (if any).

Doc answers:

The ecomony is very strong now. The best time to invest is as soon as possible. But you have to be smart about it and not jump in head first. Here’s an easy 9 step program for you to consider…
1.Begin today: No matter what your age, the time to start saving for retirement is now. Decide today and commit to it. The longer you postpone saving for retirement, the more difficult it will in your later years
2.Start saving any amount: The amount you start with really doesn’t matter. It’s the process of placing money aside for retirement that is the important habit you want to establish. Choose as big an amount that you feel comfortable setting aside.
3.Choose a method: If your company offers a 401(k) and matches a portion of your contributions, opt for it and set a goal of reaching the amount of the match. If your company doesn’t offer a 401(k) plan, save money in a standard IRA or Roth IRA
4.Make it monthly: Get in the habit of making a payment to your retirement on a monthly basis — just like any other monthly bill you pay. It’s a bill for your retirement
5.Make it automatic: Once you have committed to saving for retirement, make the savings automatic
6.Be aggressive: Make sure that the amount you are saving is placed into an account that is aggressive, especially in your younger years. You want to earn an interest rate that is well above the inflation rate. Stock funds are much more likely to achieve this goal than money market accounts.
7.Establish a goal: Once you have established an account and are contributing to it on a monthly basis, make a goal of when you’d like to retire. You can use this calculator to help you figure out how much you will need to contribute to reach your goal.

Http://finance.yahoo.com/calculator/retirement/ret-02

8.Don’t get discouraged: Your retirement goal probably is not possible with your current retirement contributions. Don’t be discouraged. It will take time to build up the amount you contribute, and it won’t happen overnight.
9.Brainstorm ways to increase contributions: There are a number of ways that you can either save or earn extra money to add to your retirement savings. Take the time to think of ways that you can increase the amount of your contributions to reach the retirement goal you have. While this will entail effort today, it will be well worth the reward when you reach retirement.
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