I will graduate this May and start working full time in September
- $57,000 a year starting salary
-$20,000 in student debt
-$20,000 in savings (but will spend quite a bit over this last semester of school as I have chosen not to work during my classes)
-6% match dollar for dollar
I was thinking I should invest somewhere between 8-15%. Here are my questions:
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Roth or traditional? What is actually better at my age? I’ve heard Roth from many people, but I figure once I start earning more money, I can invest into a traditional 401k to put me in a lower tax bracket
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Is it okay if my only savings (outside of an emergency fund) is in my 401k? For the time being at least? I eventually want to invest into property, but I want to max out my 401k as early in my career as possible.
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What are other good investment options outside of a 401k? In other words, where the hell should I be storing money that I don’t necessarily need right now, but would like access to before retirement? (likely to invest in property, a down payment on a home, etc)
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My plan was to put my 401k into an aggressive/ultra aggressive portfolio until I get much older, and slowly trickle it down to conservative as I near retirement. Is this generally a good plan? What would you suggest? I know that the market has never been at a loss in any 7 year timespan, this is where my thought process is coming from.
Submitted December 09, 2018 at 07:19AM by parlonida https://ift.tt/2PrVIPv
