Hello!
Ya'll have inspired me to take better care of my money and start trying to figure out how to plan for the future. I've created a budget for 2018 and I'm seeking advice on where to put investments.
I'm very new to money management and know nearly nothing about investing. I'm 6 months into my first professional job (university) and I've just gone through basic retirement planning. I'm looking to contribute more to my retirement fund and also interested in investments that would add to my income but not something I would need to spend a lot of time managing.
Here are some numbers:
At my current wage I'm bringing home $2,300 per month. I've planned for $1,300 in expenses per month being modest. I can cut out some of those expenses but I would rather plan higher. I contribute 4% (about $1,450 yearly) to my work retirement plan and I'm matched 19.45%. Vested after 5 years. This is about $8,500 per year. 4% is the minimum for my employer to put in 19%. The max that I can contribute is $10,800.
This leaves me with $750-$1,000 to invest monthly and I can put $1,000 in immediately. Where would you suggest starting?
Thank you!
Submitted February 11, 2018 at 01:05AM by loosersparadise http://ift.tt/2BPaaix
