Hi i just need a little guidance. Ive saved up ~20k from working. I know its not a bunch but i dont know what to do with it? I want to go to community college soon, and with my savings i can for sure pay for my associates. But i also dont mind taking a gap year and saving up a little more money so my debt wont be that bad when i transfer to a university and go for my bachelors. Also id like to set up a roth ira, but would it be stupid to shove 5,500 in it already? Is it too early to save for retirement? Should i focus more on paying for my education? Im just so lost? Maybe im for sure just stressing out too much. Idk. Heres what ive been thinking
Emergency savings: 1,000 Retirement: 5,500 School: according to the college net price calculator, about 14,000 (two years of tuition, fees, books, ect.)
That would basically use up all of my savings. But if it took a gap year and saved up money id probably realistically have around ~35k saved up(i live with my parents and am a cheapass). Id have ~15k left and that would hopefully reduce a little weight off of my inevitable student debt when i go for my bachelors.
I would hopefully be working during all of this and if i dont figure out what to do i wont do anything and more money will slowly pile up and i would become terrified to spend any of it. Im just so scared of making a bad decision. Im barely an adult and am proud of what ive saved so far, ive grown so attached to seeing it grow and just dont want to make a stupid mistake you know? What would you do if you were me? Thanks for your time
Submitted June 15, 2018 at 11:02PM by 5wing6 https://ift.tt/2yg6SDO
