So I made the move to quit my job of over 10 years a few months back and have never been happier. My one problem is that I now have some accounts that I feel that I could be doing more with.
I had been slowly building a 401K (only up to about $20,000) and had been purchasing discounted company stock (up to about $8,000). I also have about $35,000 sitting in a savings account not really doing anything for me right now. I do have a student loan of about $12,000 that will shortly start billing me.
My question is multipart and might best be answered through multiple posts but here goes:
- What is my best bet with the 401K? I know very little about retirement plans and don't plan to ever touch this money until I retire but could this money be of better use somewhere else?
- The stocks? Just let them ride? I don't plan to buy more since the discount is no longer available to me.
- The student loans.... pay them off in one shot? I have the extra money and it would not be a hardship to do so unless that money can be best used somewhere else?
- With the money just sitting in the bank I get a little sick feeling thinking that I can be doing something better with that.
I guess that I am looking for some direction. I don't have enough money for a financial adviser and too much to just let sit in the bank. I am young enough (38) to take a little bit of risk but old enough to be thinking about not losing it all and having nothing when I retire.
Ideas, links, thoughts.... I am willing to do the leg work if I only knew where to start.