Hi! I've been reading this subreddit for a while and I'm looking for some advice to move my finances to the next step. I'm a 20 year old student. I've recently saved up 5k in my savings account and have four credit cards open, with a FICO score of 728. I make about 1500 dollars a month. I moved from a job with a 401k plan to a job without benefits (but with significantly higher pay) about 4 months ago. When I quit my first job, I had to move my funds in my 401k to a Rollover IRA account. I read all over this subreddit about how you can contribute up to 5500 dollars into a Roth IRA yearly, but I have a Rollover IRA, not a Roth. What's the difference? I currently only have 80 dollars in it, but I want to learn how to start utilizing it in preparation for the future. I use fidelity for my IRA and my college fund, if that's important. I also have 5000 dollars in student loans, which I plan on making a sizable dent in during my internship through school next spring. Any advice and guidance would be much appreciated. Thanks!
Submitted February 27, 2017 at 09:33AM by PM_ME_YOUR_MANBOOBS http://ift.tt/2lO9ZJr
