Currently I am 28, married and have a daughter who is 10. The only debt I have is my home, which I currently owe $300,000 on. We have $100,000 in equity. We do not have any investment accounts now and have $400,000 in our checking account (yep, I know it's crazy!). I want to put money away and begin compounding interest.
My 2 main questions are:
1) where should I put the money? I want to retire around 50, so 20 years from now.
2) what percent gains on average can I expect each year? I've done the compounding interest calculator and it really begins to put out large numbers once its gets over 10% a year or so.