Financial Profile:Age 27, Single, California
Income
Annual Income from Employer: $105,000
Annual Income from Side Business: ~$50,000
Totals:Cash (Checkings + Savings) = ~$25,700
Retirement (Roth IRA + 401k) = ~$19900
Stock Holdings: ~$33,000
Debt:
Student Loan: $104,000 (Originally, $145,000+, all federal)Credit Card: $0 (pay off monthly)
Expenses:Rent: ~$1600/mo
Car (lease): ~$350/mo
Car Insurance: ~$134/mo
Spotify - ~$11
________________________________________________________________
Things that have set me back: I've dumped loads of money into working down my student loan, and into starting my single member business. Which just started paying off in the past 1.5 years, but slowed down due to COVID. I've maxed my ROTH IRA for 2019 & 2020, but not for 2017 & 2018 because of the student loan. I just got my first 401k job in 2019, and I plan on contributing as much as I can stomach. I've only been working since 2017, and literally had $271 in my bank account the first time an adult job pay check hit.
__________________________________________________________________
I don't have a HYSA yet. Or and SEP. The stock market has been nice to me this year, so I haven't withdrawn from my brokerage, and the rate of return is markedly higher than keeping that money in an HYSA.
__________________________________________________________________
I'd like to know if there's anything I can do, money I can relocate, to put myself in a better position for financial independence, as I feel I'm so behind because of my debt. I have goals, like buying properties.
Submitted September 23, 2020 at 09:57PM by buckshee9 https://ift.tt/2RSJxPt
