Step 7

**ecgsmama** · 07-16-2010, 04:38 PM

We reached Step 7 of the Dave Ramsey plan a little over a year ago. We have no debt (including no mortgage), put over 15% in retirement, and continue to contribute to healthy college funds for our 3 boys.

Since reaching step 7 we have continued to live frugally, essentially we try to live on one income (this includes the retirement and college contributions) and bank the other income, resulting in a large amount of money just sitting in our checking account.

Step 7 is to give, have fun, and invest. We give more than ever and we have more fun than ever (although free entertainment is still the most enjoyable), but we struggle with the investing part. We don't want to put any more money into financial investments (stocks, bonds, mutual funds) b/c that is where all the retirement and college funds are and we are a bit fearful that it is all a deck of cards (is that the right cliche?).

So, what do we do? Does anyone have any other ideas for investing this additional money without putting it into financial vehicles?

**Cricketlegs** · 07-16-2010, 05:30 PM

I can't help but I do want to say congrats, you did it!

**mauimagic** · 07-16-2010, 07:25 PM

Me too!! congratulations!!

**Lorelei** · 09-04-2010, 10:53 PM

Real estate is a possibility, but that might be more risky than you'd like. If the money is just sitting in your checking account, and you want it to stay safe yet get a higher yield, you could open a CD or a Money Market savings account at your bank or credit union.

**MTS04** · 09-05-2010, 12:40 AM

Wow, I am in awe. Congrats on Step 7. I can't help, but wanted to say congrats.

**karichelle** · 09-05-2010, 10:16 AM

If the $$ is just sitting in the bank, I would get a high yield CD at a credit union (typically have higher yields than banks), but the interest rates aren't all that high right now so you might not get a huge return. But it would be safer than other forms of investing.

**Happy Dope** · 09-07-2010, 07:37 PM

OMG congrats!!

**TheRootedNomad** · 09-08-2010, 07:53 AM

That's great!!! We are working towards getting there ourselves. It must be an amazing feeling. As for investment type stuff. We plan to invest in real estate of some type. If we were there currently, and had the money to pay cash, we would be combing the foreclosures for a rental house. There are some amazing deals out there right now.