I'm a 29 y/o and have saved up around $128k in cash, seeking advice for how to best invest my cash. Would appreciate any advice!
- Basic Info: Single, 29 years old, no children but eventually plan to start a family
- Income: $120k salary, around $15k annual bonus
- Investments Total: $269k
- 401(k): $165k, typically contribute 10-15% (roth), employer matches 3%
- Roth IRA: $49k, mostly invested using Boglehead's 3-fund approach; contribute maximum each year
- Wealthfront Account: $55k - automated passive investing
- Fees: 0.25%, $20k of balance managed for free
- Cash Total: $128k
- Money Market (currently 0.55%): $67k
- Checking: $61k
- Expenses: $2-3k/month
- I am fortunate to live in my family's apartment rent-free, usually spending around $2-3k/mo on various bills, food, lifestyle/entertainment, charitable contributions, etc. Most of my spending is charged to various credit cards with relatively favorable rewards, and paid off in full each month.
I realize I am sitting on a decent bit of cash and want to explore how best to utilize it. My current living situation has been an immense help and I am fortunate to be able to save quite a bit of money by eliminating rent costs, especially living in a HCOL area (NYC). Additionally, I do not have any loans or other debt outside of my credit cards which I pay off in full each month. One additional note is that I can get 50 free trades/month in a Merrill Edge account.
Thanks in advance for any feedback!
Submitted October 27, 2020 at 10:31PM by goodvibegiraffe https://ift.tt/3mu00ad
