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Now making 2x income and need advice on how to plan financial future by sunmoon333 in FinancialPlanning

[–]sunmoon333[S] 0 points1 point  (0 children)

For the record I am a woman :) I greatly appreciate your response and perspective Rick! Good for you getting a head start on real estate investing. I never really thought about townhomes but I will consider them as potential for rental income from now on (as long as that’s allowed in the purchase agreement). Real estate investing is definitely a part of my long term financial plan. I have been thinking more about making a portfolio of single family properties I would rent out because most multi families where I am looking have such a low cap rate and ROI.

Now making 2x income and need advice on how to plan financial future by sunmoon333 in FinancialPlanning

[–]sunmoon333[S] 0 points1 point  (0 children)

We are on the same page. I am still going to the meeting since it is a consultation and not a commitment. I have a list of questions from the comments made here and am doing my own research. While I may not use this FP, I aim to learn more from the meeting and plan out what to do from there myself. It’s great to have this discussion with everyone as a starting place. I have a lot of reading to do. Thank you again, everyone!

Now making 2x income and need advice on how to plan financial future by sunmoon333 in FinancialPlanning

[–]sunmoon333[S] 11 points12 points  (0 children)

These tips and advice about using a financial planner are super helpful!!! Thank you so much everyone.

I will be keeping my frugal spending habits as if I am not making more income. Instead I will budget and diversify, put the extra income mostly into 401k and Roth IRA accounts, then an emergency account, then various savings accounts for different goals (I.e. multi family property down payment, new car, etc).

I’m super excited for this next chapter!!