I’m 24 just moved to a high-cost of living city. I feel like I’ve been letting the money fly out of my hands so I’m going to be sticking to this financial plan going forward to achieve my goal of buying my dream house by 30 and saving for retirement.
My take home salary after taxes/insurance/etc is 65k per year, I’ve got decent benefits and try to keep my monthly spending around 3k a month which gives me 2k left to save monthly.
My goal is to max my Roth IRA every year investing in ETFs, that way in 5 years I can take out my earnings for the Roth IRA first home buyer exception.
I’m not sure what I’ll do with the other money I save since I don’t know much about stocks, I’ll likely do some more research when I get to the point sometime early next year.
I’m working on launching a side business that might supplement my income after a few years. Ideally, I’d like to FIRE down the line but am realistic at the same time (I think the world will be a very different place by 2045 anyways).
Any advice is appreciated! Let me know if you need additional details.
Submitted July 18, 2023 at 01:20AM by Ok_Hunt8989 https://ift.tt/XCN62uD
