Hello financing gurus of reddit! I’ll try to make this post as short as possible without leaving out important details.
I’m a 22 year old soon-to-be college grad who already has a job lined up. I will be going into a career making about $60,000/year gross income, in addition to approximately $28,000/year in a tax-free annuity that started payout this year in March. The annuity lasts 20 years, and has 3 lump sum payouts on top on the $28,000. My total debt is approximately $13,000. My parents are paying off my student loans directly after graduation, so I did not include that figure in my debt summation. Right now, my parents pay my rent and necessary expenses to survive while in school, but I will be taking over all of these once I graduate. My current rent is about $640.
My questions are: 1) what’s the best investment strategies in your opinion? 2) Are money markets a good tool to utilize? 3) what overall advice do you have for me to set me up for the best future?
I am currently working toward paying off my debts and starting to build my emergency fund with the annuity. My goal is to have 3 months of expenses in the emergency account. I then plan to max out my 401k benefits through my work and open a Roth once I start my job. I know investing is important to start at an early age, but I have no idea what I’m doing so any advice is greatly appreciated!
Submitted April 02, 2019 at 10:39AM by fortheloveofscrubs https://ift.tt/2OHZDsK
