Dilemma, hat to do with my money, get an adviser???

Here is my dilemma.

I have around 40K in my checking account. My checking account pays 4.5% up to 50K. I am content leaving it there but should i be putting some of it in a fund? I have a few stocks but that is mainly for fun. I max out my roth and put money in my 401K. My salary is 140K per year, should i be putting more in my 401k and drop the roth? I also have a new mortgage that i could be paying more on but haven't yet. Just looking for some guidance. I know some about investing but am not an expert. With the amount of money i make should i get a finacial advisor to help out. If so, any suggestions. I just hate paying someone money when they might not know much more than me. Sorry for all the questions but need some help on which way to go.

Skamin20,

Don't write any checks!

After 2010 when the "Bush tax cuts" expire, tax rates will be increasing so having your retirement funds in a ROTH IRA is a good idea. Keep contributing to your ROTH IRA.
Also you may want to contribute to a ROTH IRA for your spouse.

When your employer makes a matching contribution to your 401k account, you want to contribute enough to get the maximum match. If you can afford to contribute more, then it may be OK to do that. Remember, taking money out of a 401k is expensive.

Paying more on your mortgage today will increase your equity, shorten the length of your loan, and best of all there is the potential to save tens of thousands of dollars on interest charges. While there are some tax advantes to keep paying the mortgage interest, not paying the interest is better, Example: paying $5,000 in mortgage interest that you deduct from your income, will save you $1,500 in taxes.

Before you consider investing, I recommend you read a book by Austin Pryor titled, Sound Mimd Investing. The book covers all aspects of finaces. The book was recently updated and is available at Amazon.com for about $25: http://www.amazon.com/s/ref=nb_ss_b?url=search-alias%3Dstripbooks&field-keywords=austin+pryor

Sound Mind Investing also has a monthly news letter that discusses investment strategies, and current events that affect markets. You can learn more here: http://www.soundmindinvesting.com/visitors/strat/index.htm

thanks Clydewolf. "Don't write and checks" are you meaning keeping my money in that account is a wise choice since it is gets 4.5% vs putting some in a mutual fund.

Thanks for your help, i will check out those links and get that book