Hello Personal Finance peeps!
I have recently been wanting to get more serious about my finances and do some planning/investing. I already feel like I'm a bit late getting started with this and would like to get things lined up asap.
I'm 29 years old, soon to be 30. I am fortunate enough to be debt free. I generally keep ~$5k in my checking account, after big expenses such as rent, utilities, groceries, insurance have been paid. I have questions regarding a number of different areas currently relevant to me.
Savings Account
My account currently has ~$50k in it. This feels wrong. Safe to assume I need to take some money out of here and do some investing with it?
401(k)
This past year, I got hired on to a new job that offered 401k benefits; a first for me. I am putting in 4%, which is the max full match my company gives. I believe it is with Vanguard. Everything is in the default fund when I signed up; something like a Lifestyle/Pre-Mix/Target Retirement 2055...Should I re-allocate my investments for this? I recall someone suggesting that I should dump all of it into a large cap market like s&p500. Is there some merit to that?
EE Bonds
I have a slew of Series EE bonds from the 90's that are currently valued at ~$15,500 as of 04/2020. The oldest ones are about to reach their final maturity date in May. The bonds issued from 1990-1994 all have a 4.0% interest rate. The remaining bonds ranging from 1995-1998 have interest rates between 1.48 - 1.57%. Hoping to get some advice on what to do with these.
HSA
Started an HSA through my employer's at the beginning of this year. It is with Bank of America. At the moment, I am only contributing $1000/year and my employer contributes $500 which is the max. I don't believe I've set up investments on it yet.
Thus far, all my investing is via employer programs. I have no personal investing funds and am rather lacking with knowledge/best practices within this topic. Should an IRA/Roth IRA be my first thing to look into? Should I start delving into something like Robinhood or Etrade and building a portfolio of individual company stocks?
Thank you in advance for any pointers!
Submitted April 02, 2020 at 08:11PM by Tx_agg41 https://ift.tt/34dkEna
