30f, single, no kids, got a new job making 80k in HCOL area
Saving/investing in my 20s was challenging because of higher ed expenses, moving out of family’s home as soon as I could, working in a traditionally lower-paying sector, and having fun. Now with a higher income, I’m trying to catch up!
Here’s what I’m working with:
22k in savings
1,700 in stocks on Robinhood
6k in Rollover and Roth IRAs
New 403b with 3% employer match
Excellent credit
Expenses:
1,100 in rent and utilities
Aggressively paying off my only debt of student loans, 14k remaining with interest rates hovering around 6%
Other expenses are relatively low, esp. with Covid, no car and working from home for now
I’m planning to contribute and max out my IRAs once my loans are paid off. I’m aiming to be debt free by May 2021.
I will likely open a high yield savings account even though rates are quite low at the moment
Moving forward, I’d like to continue contributing max amounts on the IRAs and taking advantage of the employer match on 403b. I’d also like to grow my savings for a home purchase in the future.
Am I on the right track? Are there better moves I could make?
Edit: formatting
Submitted December 31, 2020 at 02:48PM by tryingtogetthatmoney https://ift.tt/2Jy2pmm
