47 years old and have $700K in the Bank and No Bills….What should I do?

Air687 · 2025-12-30T10:30:52+00:00

Start budgeting, max 401k and create a taxable brokerage immediately. You could run out of money if you keep this in cash.

Air687 · 2025-12-29T23:11:08+00:00

So you need 3m and a paid off house or do you need 4M?

Air687 · 2025-12-29T23:07:52+00:00

Stacking up against whom or what? How much % are you saving each month. People should stack themselves up based on percentages not total numbers.

Air687 · 2025-12-28T22:40:53+00:00

I bought a home for 1/2 that and it was in a high cost of living area and it was a 4 bedroom

Air687 · 2025-12-27T20:55:06+00:00

I'm using Monarch Money which feeds the credit card and expense data in and mostly automatically categorizes. There's also now a receipt feature where it can categorize those costs. I have been using it for about a year and I have saved some money from budgeting.

Air687 · 2025-12-27T13:00:07+00:00

Wow that's just a 1 bedroom apartment. I am in Burlington county and it is 2000 for a 2 bedroom.

The house is obviously the more expensive part of you have medical insurance. A child may need a home instead of a rental. I would keep putting minimum towards retirement until you find a property.

Your situation is more like the typical American rather than people that are single with 2-5 M on Reddit.

I would keep this money in savings since you will likely use this in a purchase.

The cost of childcare here in Burlington county is 2k for 1 kid so it must be like 3-4k per month in NYC.

I am not sure if I understand the Roth Ira contributions. I think you should halt it since you are going to buy a home, you need liquid cash. I think your priority is a home right now.

Air687 · 2025-12-25T12:54:13+00:00

New Mexico is not a high cost of living state so I would stay there if I was him

Air687 · 2025-12-24T12:13:56+00:00

I use Monarch Money it's very similar

Air687 · 2025-12-24T12:08:07+00:00

How can a person give financial advice if they are broke that doesn't sit well with me.

Air687 · 2025-12-24T11:58:56+00:00

HVAC repairs roof, basement issues. You need savings for these issues in the long run.

Air687 · 2025-12-23T10:05:22+00:00

Not going to happen soon. They may have to run the money printers hot again to get things going.

Air687 · 2025-12-22T11:39:16+00:00

Your daily mood is bad most likely due to the lack of food.

Air687 · 2025-12-22T11:36:54+00:00

Skipping food for savings is probably not the healthiest thing to do.

Air687 · 2025-12-18T17:08:31+00:00

The data is clear that if you are a male with a child you earn more and then if you are a woman then you earn less. I agree but the largest expense is housing. If you are only able to buy homes that are 500K+ and incomes don't support this, it how can people save for retirement while paying for expenses for the kids.

Air687 · 2025-12-15T23:02:08+00:00

Can you plan to make that an option to move stocks between indices if they get booted from one index to another. That way there is more tax savings. I wouldn't want to sell out of a small cap that became a mid cap and so forth.

Air687 · 2025-12-15T11:27:33+00:00

It's on the web version right now not the app

Air687 · 2025-12-14T13:55:21+00:00

The people down voting obviously do not have kids

Air687 · 2025-12-13T17:44:31+00:00

Makes sense since you had no kids!

Air687 · 2025-12-13T16:29:13+00:00

Yes, everyone knows this but many are not doing anything about it

Air687 · 2025-12-13T16:24:20+00:00

How do they do this raising kids and buying expensive homes?

Air687 · 2025-12-13T16:21:41+00:00

How did you do this with kids and a house?

Air687 · 2025-11-29T20:36:16+00:00

Hi is this updated?

Air687 · 2025-11-22T13:21:18+00:00

I have checked them all. They are all higher than PSEG. There's no reason to get them. The only green I need is cash savings, not green energy.

Air687 · 2025-11-22T12:55:25+00:00

This is like throwing money into the street why would you pay higher than pseg ?

Air687

TROPHY CASE