Hi all, I haven't come across an answer to my specific situation so I was hoping I could get answers here to help me make my decision.
I'm 27/M, single, total gross income is ~95k/year
I currently contribute 15% of my gross income to employer matched 401k (company max match is 50% for the first 6%).
I have a second job to which I also contribute to a retirement account at 6% in a 401a (which is matched 4.5%). I only work at this job 8-32 hours per pay period (biweekly pay periods) while my main job is a full-time job.
I have no student loans, cc debts, car payments (paid off), nor do I own a home-- I am currently renting. My question to you fine financial experts is which of these options do you think would serve me best?
- Open up an IRA and contribute to that on top of what I am already putting away into my 401k.
- Redistribute the 15% to spread out across different types of retirement counts.
- Stay true to my course and save for investment property.
- Any other option my novice financial mind may not have thought of.
I am interested in purchasing investment properties but I am not sure whether I should prioritize my funds going towards saving for that (after my retirement deductions) or further funding these accounts then slowly save for that investment property.
Thanks in advance and I look forward to hearing what ideas you guys may have!
Submitted October 18, 2017 at 11:07PM by 88holdat http://ift.tt/2yAXTMc
