Hello everyone—
Here’s my current situation..
27/M, $90k gross before potential bonus. I’m in a LCOL area renting an apartment with my girlfriend. My expenses all in are about $750/month. I leave myself $3k/year for personal spending, contribute 5% to my 401k to get a 4% company match, and the remainder is saved.
Currently:
No debt. All paid off last year. $20k in savings $50k in cash $25k in 401k
I just started a vanguard account to open a Roth IRA, and plan to max yearly.
With how low my expenses are, I have a few questions:
-
Is it worth purchasing a house instead of dumping money into an apartment? I’m only considering it to build equity. Rent costs me $550/month.
-
Is it worth while to max out my 401k contribution? Can I up my contribution through work to max out 2019 still? I have no big purchases planned in the near future.
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Should I invest the $50k cash in an index fund like VTSAX with how well the market is doing right now?
Thank you ahead of time..
Submitted February 19, 2020 at 09:01PM by jplurne https://ift.tt/39M8H9s
