In this series, I’m sharing “other” ways to invest beyond standard 401(k), 403(b), 457, TSP, Traditional or Roth IRA, mutual fund, stock, or bond investments.
Part Five Eliminate Debt and Bills
This one might surprise a few of you, but this could possibly be the best investment you could ever make! Consider the amount of money from your household budget that is currently being applied to debt and monthly bills. It is literally hundreds or thousands of dollars every single month! What else could be done with that money? It could be invested OR you could reduce your work hours or even retire!
The rate of return is guaranteed when you eliminate bills. If you are paying 21.99% on a credit card, you can gain that interest simply by eliminating the debt! This is why I am such a big fan of eliminating debt – especially on items that drop in value like a rock or have no value at all.
Read the entire series (available after 9/30/2011)