Hi All,
I'll try to make this a clear as possible so...
I graduated college in June 2019 and started working full time in February of 2020. My job was a contract/temp position where I was making $23/hr. In August, I was hired full time and was changed to salary and also now had benefits, PTO, etc. I currently live at home and my parents love and expect me to be home for as long as I want so no rush there, although I do like the idea of being a homeowner at a young age.
Basically, I want some advice for what to do with my paychecks. I'm currently contributing 6% of my pay to my 401k but don't starting receiving my 70 cent per dollar match till 6 months of employment. Since I became a "permanent" employee in August, I will start receiving a match in February. This is all the retirement saving I'm doing atm, no IRA. I have about ~1.7k in my 401k so far.
I've got $20,000 in the bank earning a .01% interest rate (i know, help please). High 700 credit score, no college debt, no car payment (I bought a 2015 infiniti Q50s in cash so worth around ~$19k). I have zero bills and I live with my parents so what should I be doing with every paycheck? I don’t feel like i should just be hoarding money in a .01% return savings account.
Am I doing alright for my age? Is it possible to retire early or make my money do more for me. My job is pretty safe and it's safe to assume my income may go up eventually.
Thanks for any advice on what to do!
Submitted November 16, 2020 at 11:56PM by WeAllHaveDreams https://ift.tt/3lH5zC0
