I've been reading a lot about personal finance and I understand the basics i.e.(pay necessarily expenses, build a budget, build an emergency fund for a few months, pay down debts, contribute max to 401k, contribute to IRAs) but I get confused on exactly how much I should be doing and when is too much and when is too little so I'd like to see peoples examples and why they chose a certain way. Would love to see those specifically who are in their early 20's (I'm currently $25) with no children and no debts and already built emergency fund of 4-6 months. Here's how I'm currently doing this:
$6k pretax 1. 15% goes to Traditional 401k = $900 (company has 6% employer match) 2. $1,100 goes to Savings ($700 for a house, $100 for wedding, $300 for travel) 3. $636 to Roth IRA (accidentally started a month late) 4. $2300 to cover living/non required items for fun
Left with $1064 which I'm not sure what to do with
Submitted April 27, 2024 at 07:11PM by korakura https://ift.tt/1zCe6ZJ
