I am a 27M working in the tech sector and my goal is to be able to retire as early as possible. My salary is 85k, 20k in the bank(12k of which is an emergency fund), I have 20k in my 401k, 3k in my roth, and I am planning to max my 401k this year and am on track to invest 5k into my roth. My employer matches 100% of the first 3% invested and 50% of the next 2%. I have a car loan of 4k at 1.72% interest, but do not have any other debt besides that. I have also been thinking of moving to a city, where i could sell my car and eliminate a $120 monthly car insurance payment, the car is valued at 21k currently and has retained a solid value since buying it 3 years ago. After calculating my expenses, I should be able to save roughly 25k in a year, which I am thinking of throwing into a brokerage. My question is, if I want to retire as early as possible, should I really be maxing my 401k at all? Should I be putting most of my money into a brokerage account from the start? I have heard a lot about dividend funds like SCHD and I am beginning to wonder if I'm approaching this the wrong way.
Submitted February 15, 2023 at 02:07AM by DirtyDjinn https://ift.tt/PXqGIgF
