[Phoenux]

Hi guys

I'd like some advice/ideas/opinions on handling my finances going forward.

About me. 25 Male, engineer, decent paying job, recently purchased a flat.

In dollars I currently put away per month:
+- $410 into pension
+-$30 into a retirement annuity
+-$200 paying back a loan to my dad
+-$550 homeloan payment

I'm left with about $300 per month. I am tempted to put more money into my mortgage and pay off the flat quicker (interest at 9% p.a. currently). Investing into unit trusts and shares is also appealing...

What would you guys suggest?

regards

Phoenux

[robreke]

(05-12-2014 04:05 AM)Phoenux Wrote:  

Hi guys

I'd like some advice/ideas/opinions on handling my finances going forward.

About me. 25 Male, engineer, decent paying job, recently purchased a flat.

In dollars I currently put away per month:
+- $410 into pension
+-$30 into a retirement annuity
+-$200 paying back a loan to my dad
+-$550 homeloan payment

I'm left with about $300 per month. I am tempted to put more money into my mortgage and pay off the flat quicker (interest at 9% p.a. currently). Investing into unit trusts and shares is also appealing...

What would you guys suggest?

regards

Phoenux

9%.....WTF??? Are rates over the top in England or what ?? I'm guessing that's where you live. Anyway...rates here in the US are still really low....under 5%. So, try to refi your property at a good...the best rate you can.

Sounds like you're doing good. Invest at least 10% of what you earn in growth or bluechip mutual funds. You're 25 so don't worry if the market crashes...it will recover...you've got a long long time. Just keep adding. Also...build a war chest savings account of 3-6 months expenses so if emergencies happen...you won't pillage your investment money. ALso....read the richest man in Babylon. I'm a US financial advisor by the way. Cheers mate!!

[Avon Barksdale]

[Capitán Peligroso]

^^^start there and practice the fundamentals until you master them.