Coming from grad school where I had a 34K/yr stipend. No retirement accounts, just ended up maxing out a Roth IRA and putting some money into an individual investment account. Started at zero in 2016, now sitting at around 80K (proud but obviously pride doesn't get me to retirement). My expenses were quite low, now I will make more but also moved to a higher COL city w/ higher transportation costs as well. I started working Monday.
- 95K salary
-No debts
-80K investments, 10K cash
-3.5% match
I was planning to toss 16.5% in 401K (bringing total to 20%), I only have a HDHP option so I also have access to an FSA (not planning to use) and HSA. Here are my questions:
- Trad vs Roth? What is actually better at my age/income? I was thinking to split, in essence hedging my bets; might you all advise otherwise?
- Should I continue to toss extra moneys into an IRA either Roth or traditional; thoughts on HSA? Alternatively, I would likely just trade ETFs or indexed mutual funds w/ a few individual publically traded companies in a standard individual investment account.
- What are other good investment options outside of those listed above? Where should I be storing funds that I don’t need right now, but would like access to before retirement (for car, property, a down payment on a home, etc)
- A generally naive individual, anything is helpful. Call me a darn fool if you so desire! I hope to retire NO LATER THAN 60. I currently do not have SO or children, however, both would be nice at some point in my life... I usually go with the flow and see where things take me.
Submitted January 16, 2021 at 09:22PM by iamabluehen https://ift.tt/3sxNaM4
