Hey everyone - I am looking for some advice on what to do with my money. I just graduated from university with a degree in aerospace engineering, but started work as a consultant for a consulting firm in Texas. My parents moved to the US when I was 2 and are small business owners that have to work almost every day. They never learned about retirement and have not made any plans to retire outside of me. I want to be able to position myself in a good place where i can have enough cash flow to both take care of my parents and my future family in the coming years.
I currently earn $80,000 annually without any bonuses or OT included. I am maxing a roth IRA provided by my firm and also maxing 10% of each paycheck in a discount stock purchase plan. Outside of that I have a Marcus account from Goldman where I have my emergency fund($10,000) and started saving $200 a month for my parents. Outside of my current expenses, I have an additional $1000~ that I can either save or invest every month. I don't know too much about Real Estate or Investing so I am a bit hesitant to jump in without learning about either of those first.
I would love to hear opinions on what you guys think I should do or any suggestions on how I can learn to position myself to better serve me and my parents going forward. I just want to be able to make their sacrifices worth it and am very quickly realizing that this is the stuff i wish they taught in HS/College. Any and all help would be appreciated. Thanks yall!!
Submitted June 27, 2020 at 07:35PM by zeem28 https://ift.tt/2CKJd0V
