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Best advice for 23 yr old single mom? |
Whats the best financial advice for me? im a single mom who gets no child support (he wont work), i work as an RN, i save my money pretty well, my credit is good...what else can i do to benefit myself and my son? I have a college fund and a savings account started for him. hes only 3 though. Wow! I wish you would've been around to give me advice when I was a 23 year old single mom. You're doing everything right! Save up for your down payment on a house and if you're still in a relationship with the child's father, dump him. A man who won't work is nothing but a drain on you and a bad example for your child. Other than that....you're doing everything right. I D K GOOD LUCK join the navy as a medical officer and never have to worry about anything again. You are doing pretty good. You can not roll over a 401k into a IRA unless you change jobs or retire. Make sure you max out the 401k and also have at least 6 months gross income saved in a readily available account. It sounds like you're doing pretty well! Keep it up. Stay with your 401K ... I know the market looks bad , but these are designed for the long term ... Especially if your employer matches you contribution ... If so you need to install the max amount you can afford ... Also ... if you do not own a house , now is a great time to invest in property . Again good for the long haul ... You can also consider a Credit Union , Mutual Fun , or CD . An IRA can also be purchased for around 2k and up . I would say that you should seek out an adviser at the bank you do business with ... Good Luck sounds like you are doing great. stay the course, The only advice I could give you would be not to have any more kid with loosers. It looks like you are doing everything else right. Keep up the good work. Sounds like you're doing pretty well. Good for you! |
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