Question about finances...?

How do I guarantee the best, most stable future for myself?

Current situation:
23 years old
Living with parents since graduating college in 2006
Income: 43k
403b contribution: $250 a month
Debt: Student Loans - ($17,000) currently paying $250 a month
Car Payment: $229 a month for 36 months
Savings: Roughly $20,000 in savings right now

What kind of investments should I look into to increase my net worth?

Thanks.

FYI - Looking to move out of parent's house in Jan. 2009, and pay no more than $700 in rent (shared with boyfriend)
Also - am currently going for my M.B.A. (no cost) and expect to have much higher earning potential upon graduation
Also - will receive appx. $150k in law settlement in 2010

Your finances look admirable. Congratulations.

Depending on the interest rate on that $17,000 student loan, consider taking $17,000 out of your savings and paying it off in anticipation. Recognize that in so doing, you'd effectively be earning the interest equivalent of the interest rate on the loan and earning it tax free. If the $20,000 is in a savings account you'd benefit from that.

If you do as suggested above, then put another $250 a month into savings, the 403b or back in with the $3,000 in savings you have.

Unless you know about investing in securities, talk to someone like Fidelity or Schwab. It might be a good idea to be putting part of your investments into a mutual fund.

My guess is that your credit rating will be excellent based on what you say, as you have loans and are paying them off on schedule. If you don't have a credit card, get one. Use it occasionally and always pay off the balance when due (so you incur no interest on the darn thing). After a year or so - or immediately if you already have a credit card - get your credit limit increased. It'll raise your credit rating to have a credit card on which you use less than 25-30% of your approved credit limit. This focus on your credit rating will help you should you decide one day to buy real estate.

Good luck to you!

Invest in Gold and Silver.
Learn about real estate. Never mind the current crisis just learn about it from people like Donald Trump and Robert Kiyosaki...these guys know.
I would suggest MLM but you seem to have a full plate. MLM is a great way to build something where money flows to you over and over after you would have invested an intense 3 to 5 years of work.

Hi,

I use a site for all of my financial planning. It contains tips advice and resources you can use. It may be of help.

Thanks

http://good-financial-planning.info/

Take all but 1k from the savings and pay off the car and put whats left on the student loans. Use the 1K for an mini emergency fund.

You make 43k and live at home. You can easily pay off all your debts and build a 10k emergency fund.
You will never get ahead financially making payments.

Once you are debt free look into investing long term in good growth stock mutual funds.

Get the car payment off your books (use savings)..then

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