Hi everyone, I was looking for a bit of advice. As the title says, I have around $30k in savings and want to know the best way to split it up instead of just letting it sit.
Current annual income is around $70k + annual bonuses. Monthly expenses are generally pretty low (< $600) and I don't have any student debt to pay off. My company does 401k matching up to 3%, and my per-paycheck contribution is currently set to 5%. I have a Roth IRA open with Vanguard, but I haven't maxed it out for 2016/2017 yet. I have about $1k in my Vanguard account currnetly.
It seems like my best bet would be to hit the $5.5k cap on the Roth IRA for 2016 before the April 15th deadline, and then eventually hit the cap for 2017 as well, is that correct? After that is accounted for, I would still have around $20k left. Based on the FAQ for this sub, it sounds like setting aside an emergency fund of $6-8k would be a good idea, but I was hoping to get a few suggestions as to what I could do with the remaining $12-14k.
Any tips you could offer me would be greatly appreciated. Thanks a ton!
Submitted April 08, 2017 at 10:51PM by pfthrowaway11233 http://ift.tt/2oOaA22
