I have an internship starting soon. I'll earn around $5,400 in total, after taxes. I'll be graduating from college in December but will not work during the fall. I still live with my parents and only have about $250 monthly expenses. I already have a substantial emergency fund that should cover about 6 months of my expected salary when I get a full-time job.
If I put 20% into a Roth IRA, I will be able to cover my expenses until March 2022 (3 months post-graduation) and will leave myself with a decent amount of discretionary income. I can probably stretch it to 25% towards retirement or even 30%, would this be a good idea? Should I put more into retirement? Less? Thoughts on saving for retirement during an internship? Thanks.
Submitted May 29, 2021 at 11:17PM by mj2ny https://ift.tt/3yQt2Yo
