Hey PF
So lately, out of pure interest, I’ve been reading a lot about investing and decided I should delve into it
For a bit of a background, I am 21 years old and a senior in college and will be graduating in May of 2018
At the moment I work part time, 20 hours a week and bring home a little over 1k/Month. I am currently putting 6% of my paycheck in a 401(k), which is the max my company will match.
I have already accepted a job for after I graduate that will begin around July of 2018 with a salary of 62k/yr with about 4k in relocation every year (ill be moving every year for 2-3 years)
So currently, I have about 9k in a checking account and another 4.5k in a savings account. I am pretty proud of the money I have been able to save up, especially while paying for my own rent, food, gas, etc (really everything besides car/cell phone bills).
Finally, I do have some unsubsidized student loans that I want to pay back in the near future that currently amount to 9.5k (3*2.75k loans + 1.2k interest). These loans have an interest rate of 4.660% (is that high?)
The year is coming to an end I have been reading up about IRA’s (specifically Vanguard Roth) and was wondering if now is a good time to start depositing some money into an account like that (since it’s December and I would need to deposit before the years end) since it seems to be whats recommended for young people with low salaries.
What should I do? Focus on my loans? Is the interest on my loans considered high? Is the Vanguard Roth IRA a good investment for me, and if so, should I be depositing the maximum $5,500/yr? Are there better investments for me out there?
All help and advice is appreciated!
Submitted December 12, 2017 at 11:03AM by Kixstander http://ift.tt/2Ag89Yg
