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I put 20% of every income check to "savings": I have three categories for it to go to

  • 401K account (maxing out the most potential contribution from employer)
  • Emergency Online Bank w/ 2% APR
  • Charles Schwab Mutual Fund account

Right now as is, I have 8% going to the 401K, and the past month have been putting the remaining 12% straight into my emergency fund savings account.

Should I keep doing that?

Or should I that until I reach a certain point - i.e. until I have 1 months income built up in the savings account and then reduce, so I have 8% to 401K, 8% to savings, then the remaining 4% to the mutual fund, that way it balances out?

Or maybe I need to add in a third "savings account" for future purchases. ie house/car/etc that I WILL SPEND willingly, unlike the emergency fund that I WILL NOT unless needed. So I can save up little by little to SPENDABLE money, without mixing it with retirement/emergency/investment accounts



Submitted March 01, 2019 at 10:12PM by TheSearch4Everything https://ift.tt/2VCnVqH

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