I have been around this forum for a few years on and off, I forgot my old account details so had to create a new one. I have worked on TA for trading for awhile but would still consider myself a complete beginner as I haven't put anything into practice. Spent a considerable amount of money in the past on a subscription service only to watch all my money disappear on dead trades.
Anyway I'm very keen to get back into it and take 100% control of my trading, however I need to do the sensible thing first and pay off my $16000 CC. I have about $30,000 in cash as well, so my questions are;
1. Is it better to use my cash and pay of the card completely and be done with it, or;
2. Continue to pay down the card making extra repayments but invest my cash?
3. If I invested the cash should I invest it all in a managed fund or a portion of it?
The money sitting in an online saver just seems a waste if its going to sit there for another 12 months, I suppose I want to make sure I'm making the most of the money. I don't know maybe just sitting it in a saver is the best thing?
My goal in the long run is to reduce my debt and start building some wealth before retirement, if I retire at 65 I have 25yrs to make some good decisions.
Thanks in Advance