I have 10k to invest and I am not sure of my best option. Here is the relevant info:
- I make around 90k per year
- I have full contributions and matching to my retirement account. Total of 13% per pay check.
- I am 34 years old.
- No credit card debt.
- About 40k in student loans, subsidized, 5.5% interest. Every month I pay 300 (the minimum is 285), and I have about 25 years left worth of payments.
- A mortgage with about 90k left, 4.15 % interest. About 26 years left. I pay 1k per month
- Around 8k in stock, only one stock, the company I work for. 15% of my paycheck goes to this as of February (up from the 7% I have been investing for years). I have this money to invest now because I sold a lot of it that had been building up. I had the intention to diversify to other stock when I sold this, but decide to get advice first instead. I bumped up the percentage from 7 to 15, because every quarter I plan to sell about half of what I put in for that quarter, except it will be from the stock I got 2 years previous to that since I built up a nice buffer zone, so I can avoid short term gains and having the stock taxed as income. Ideally this basically means I get a bit more out of this additional 8% than if I just left it in my paycheck, due to the fact I get the stock at a discount, and I am avoiding most of the tax you would typically get by immediately selling espp stock. So even though I put in 15% each quarter, I immediately sell half for day to day expenses. The remaining half will continue to build up, and once I have another good chunk, I can invest in something else again
- Around 12k invested in crypto currency (obviously that fluctuates quite a bit...), but my initial investment was less than that. I don't plan to sell this any time soon, so that is off the table. I considered this money I could easily lose, so I am happy letting it sit and either expand our disappear altogether
- No car payment, no need for a car anytime soon
- No rainy day fund to speak of, unless I count the stock I have built up from the above comment, which is sort of how I look at that tbh. I do have about 3k in my savings actually, so that is a bit extra I guess. I also put about 175 per month in my savings, so it is growing. Due to this, I have not considered just making this a rainy day fund, but I am open to the suggestion.
My initial thought was to open a Roth IRA, or look at robo investors. I don't really want to worry about managing this myself day to day, and I am looking for long term investment (15-30 years)
Submitted January 20, 2018 at 03:06AM by meghiddo http://ift.tt/2FWEIh7
