12.28.2006

What Should I Do With My Money?

This question has often plagued me. Sure, I've been frugal, counted my pennies, rolled my quarters, but now what? What should I do with all of that money? The Motley Fool had some excellent suggestions, in their suggested pecking order, of where you should park your cash:

1. Employer plan with a match
2. Roth IRA
3. Employer plan without a match
4. Traditional IRA
5. Taxable investment
6. Annuity

The whole article is informative and worth the read. Sometimes it's nice just to have an answer! That's one of the things I like about the Fool. Instead of just replying, "Invest it," the Fools tell you the details - where, how, how much, etc. Mind you, you do so at your own risk (as you do at following The Financista's advice), but it's nice to hear some demonstrative ideas.

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