Hello FP Friends!
I've posted occasionally to this sub in the past and you have all been so generous and helpful; thank you.
I would love some additional insights into what to do with my current financial situation, which I think is going well so far.
Monthly (Rough) Expenses:
400 - rent 200 - groceries 200 - gas/insurance 200 - incidentals 200 - fun money (restaurants, movies, etc.)
Monthly Pay:
Gross: $5,166.66 Take home: ~$3,600 Roth 401(k) - $1,000/month Monthly Expenses - $1,200 Disposable Monthly Income: $1,400
Accounts: Roth 401(k) - $9,500 Checking Account: Ally Savings Account: $15,000 (need 20k for Grad School starting in May but spread out over two years). I plan to add $1k a month to get this up to the 20k by September and then continue to build up for added emergency fund.
My question: what should I do with the remaining ~$500 a month? Should I open up a Vanguard account and do some Dollar Cost Averaging? I know most will say to just keep adding it to Ally until I have all that saved, but I'd like to explore other options beyond the 1.5%. I've heard a lot about Vanguard, but don't know a ton about owning stocks. I also have heard good things bout Betterment, but understand their fees are a bit higher.
I am a 23M with a new to me car with 45k miles on it. Just passed inspection and all is well.
Happy to provide any additional information.
Submitted April 08, 2018 at 11:24AM by TheGoldenRuler https://ift.tt/2IC0reI
