It seems like a lot of my money is just "sitting" there collecting dust, and everything is just all over the place. I believe things can be streamlined a bit, but I don't know which avenue to take. My goal would be a total of $500,000 in cash, retirement funds, and stocks in 2 years. I know this is a stretch after doing the math, but I would still like to try.
I can currently save about $2,000 relatively easily, and $3,000 with a lot of effort. I have my emergency funds already set aside, so this is essentially money I can use to help my goal.
- I have about 40k in savings, accruing 0.05% apy.- Something north of 30k in a 401k that I can no longer contribute to since it is my previous employers.- Another 401k with current employer. No match.- A Roth IRA with brokerage. with 5.5k contributions.- About 3 student loans, totaling about $400 a month. No other debt.- Aggressively swing trading on blue chip companies in the market with "play money".
Any management tips would be helpful.
Also so questions I have are:- are ACH transfers "insured" in the U.S.?- do the new wave of "online banks" handle fraudulent claims well? I am very skeptical/borderline paranoid.- is rolling over a 401k to a traditional IRA easy to do? Is it insured as well? I am afraid these brokerages would lose it.
Submitted September 23, 2018 at 10:37PM by Deep_Interaction https://ift.tt/2zp8dGY
