DO IT ALL!s0yl3ntgr33nDecember 6 2008, 12:29:32 UTC
Yay! Congratulations!
Figure out how much you actually need per month to live. Take the rest and do a combination of all your ideas. Maybe 4 different directions from the look of it? Divide what is extra into 4, put a quarter of that to student loans, a quarter into RRSPS, then the other half into a short term savings plan in ING (car/emergency fund).
Buy stocks. Make sure that you're looking into balanced and diversified stocks. Sure they are on their way down, but have you seen how much they actually dropped? They will go back up and you're young enough that drops like that won't make a huge difference when you are ready to retire. Read blogs/sites like www.gailvazoxlade.com/blog/ and www.suzeorman.com and figure out what sounds the best to you. Don't be scared of the downturn but if you decide to participate be sure you're comfortable with investing of all kinds. But compound interest is a valuable thing, especially when you have time on your side.
Comments 2
Figure out how much you actually need per month to live. Take the rest and do a combination of all your ideas. Maybe 4 different directions from the look of it? Divide what is extra into 4, put a quarter of that to student loans, a quarter into RRSPS, then the other half into a short term savings plan in ING (car/emergency fund).
Buy stocks. Make sure that you're looking into balanced and diversified stocks. Sure they are on their way down, but have you seen how much they actually dropped? They will go back up and you're young enough that drops like that won't make a huge difference when you are ready to retire. Read blogs/sites like www.gailvazoxlade.com/blog/ and www.suzeorman.com and figure out what sounds the best to you. Don't be scared of the downturn but if you decide to participate be sure you're comfortable with investing of all kinds. But compound interest is a valuable thing, especially when you have time on your side.
Reply
Reply
Leave a comment