Hi All,
I’m 24 year old making around 95k-100k, and i have around 100k in savings sitting in a HYSA. I have cash sitting as emergency fund for my family of 4 (parents and 16yr old sibling). We are a immigrant family so my parents moved here 4 yrs back so they don’t have much savings, Am I holding too much cash, please suggest? I don’t have any other big expenses like rent i live in my parents house and they pay the mortgage and other bills.
From the investment options provided by my employer in 401k I choose: These are pretty much only options I have, other options have high expense ratio or are target date funds.
401k - 11k SP 500 - 63% FSMAX - 15% VTSNX - 22%
Roth IRA - 13k (yet to allocate 6.5k) FSKAK - 100%
Clearly I need to contribute more to my 401k. How much % do you think is ideal for my situation. And any suggestions on how I should change my % split among these funds and also I’m pretty sure I’m repeating many funds in FSkAX again should I change my Roth ira investment to others( fxroz, fxaix , fspgx,,, etc) ? I know nothing provided here is financial advice, but please share your suggestions what you would do.
Submitted August 31, 2023 at 12:56AM by Sufficient_Toe_42 https://ift.tt/KtaH0PC
