I agree, pay off all debt and start packing cash in the bank and in your pocket. Back down on any 401K contributions as to only get any company match you can get but no more. Consider putting some in a roth IRA and even keeping that in a money market even if it only pays 1% interest. It might not sound like much but it beats losing 50% of your hard earned money on unpredictable worthless stocks. The stock market has turned into a corrupt game of traders skimming off wealth by doing day trades all day. Insider trades. What a rip off. Even if you took $100,000 dollars and invested it in the stock market and it grew to $150,000 before you wanted to withdraw it most all of your profits would be eaten up by taxes and fees. If you withdrew it before the age of 59 1/2 you will pay about 33% in taxes and 10% in penalty. 44% of your $150,000 would be gone or $66,000 would dissappear leaving you with $84,000, less than the original $100,000 you put in there! Might better take the 100 grand and put it in the bank at 1% and have over $110,000 in ten years. I've been investing in different funds for 30 years and the best return I've ever got was just keeping my cash from my job and not investing it in anything! I have land and hopefully that will always have some value. I've never met a man that had too much cash but I know a lot of people that own a lot of worthless materialistic junk and have NO money and a huge house payment.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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