Hey all. So I'm officially out of the paycheck to paycheck cycle, my bills are paid, and the only debt I have is low interest student loans (3.5%). I feel like I'm doing a lot of research on what to invest in for my own personal goals, but I'm not entirely sure how much I should be putting where.
Right now I have a hysa with 6 months of emergency fund, that I'm also using to save for short term goals - house within 5 years and a wedding. This is at about 4.3% interest and I'm contributing anywhere from 500 to 1k monthly.
I also have a fidelity roth IRA. I have consistently maxed this out every year since 2020. So currently about $545 going in monthly. I split between an investor class target date fund, a regular target date fund, an index fund that tracks the s&p, a total market index fund, and an international index fund.
On top of that, I have my employer's pretax 401k plan. Because of my position I do not get an employer match, however, I do put about 500$ a month into it. This I use a single target date fund for.
And lastly, I have my brokerage account, which I'm hoping to be able to tap into to help supplement my income prior to retirement. I'm putting 75$ weekly into it. I'm tampering with what I want to invest in right now, I like etf's over mutual funds, and I'm trying to do growth stocks that offer dividends (if very little). Probably going with a 3 fund portfolio, but add one REIT and one majorly dividend focused etf. (Again, a work in progress right now so not looking for too much advice on asset allocation)
My question is, how much should I be putting towards each? I feel like in some respect I'm just winging it and putting my money to the account that feels "low". Should I be doing both the 401k and IRA? Should I prioritize one over the other? Should I be putting more into my brokerage account than my retirement account? My job is paid hourly, and I have no weekly requirement, so my paychecks tend to vary (though I usually aim for about $2200 a check after my 401k contribution is taken. )
If anyone has advice or words of guidance I'd appreciate. Also, if more imfo is needed or other factors I should be figuring in please let me know!
Tldr: there's so many "good" accounts to have and put money in, how do I/should I prioritize how much to contribute to each?
Submitted November 20, 2023 at 01:19AM by pinksapphire55 https://ift.tt/Nd1mUIF
