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Started By
Message
New grad, new job, need investment help.
Posted on 7/21/11 at 5:02 pm
Posted on 7/21/11 at 5:02 pm
I'm 22, graduated a couple months ago. I calculated my net income cleared per month will be between $3000-$3200 (After taxes, bills, expenses, entertainment). Currently I will be putting in 6% of my salary with the company donating 8% (I don't know much at all about retirement so I just put the money in a target year retirement fund). I have a Roth IRA that I started sophmore year in HS which I plan on putting the max contribution each year ($5000 if I remember correctly)
My question is, since I will be clearing roughly checking account every month, what other means of investments should I participate in that essentially manage themselves since I am not familiar with the investment world?
ETA: The $5,000 contribution to the Roth and the 6% contribution to the company retirement program will knock by monthly clearing to about $2300-$2500
My question is, since I will be clearing roughly checking account every month, what other means of investments should I participate in that essentially manage themselves since I am not familiar with the investment world?
ETA: The $5,000 contribution to the Roth and the 6% contribution to the company retirement program will knock by monthly clearing to about $2300-$2500
This post was edited on 7/21/11 at 9:40 pm
6
Posted on 7/21/11 at 5:25 pm to TigerTatorTots
You may have already done this, but make sure you build up 3-6 months worth of bill money into savings for emergency funds.
Posted on 7/21/11 at 5:52 pm to TigerTatorTots
quote:
I'm 22, graduated a couple months ago. I calculated my net income cleared per month will be between $3000-$3200 (After taxes, bills, expenses, entertainment).
Now that is some cash flow for a 22 year old. Congrats man
Posted on 7/21/11 at 6:17 pm to GoCrazyAuburn
quote:
You may have already done this, but make sure you build up 3-6 months worth of bill money into savings for emergency funds.
^^ This first
Are you sure your company matches 8% if you put in 6%? That sounds high. I get 3.5% company match to 6% and nothing over 6%
You can put up to 16500 a year in your 401k. If your company is giving 8% for 6, would they match more if you put in more than 6%?
You are correct that 5k is your max Roth IRA contribution at your age.
Posted on 7/21/11 at 6:24 pm to GoCrazyAuburn
Haven't finished that, but it was definitely a first priority for me.
Posted on 7/21/11 at 6:24 pm to LSUtoOmaha
Thanks! I am definitely blessed by getting this job.
Posted on 7/21/11 at 6:28 pm to WM88
They put up 4% fixed even if I put in zero. The other variable 4% comes from me putting in my 6%. The total fixed plus variable maxes at 8%
Posted on 7/21/11 at 6:58 pm to TigerTatorTots
What type of industry are you in? Or what is your profession if you don't mind?
Posted on 7/21/11 at 7:13 pm to TigerTatorTots
You should have posted this on the OT. LOOK AT ME!!! LOOK AT ME!!!!
Posted on 7/21/11 at 7:20 pm to FunkyTiger
Gas & Chemical industry
Posted on 7/21/11 at 7:21 pm to TulaneTigerFan
quote:Am I not allowed to seek advice from the Money board, is that against the rules? You follow me around WAY too much. Are you jealous, or just enjoy being a dick to people? You will go far in life!
You should have posted this on the OT. LOOK AT ME!!! LOOK AT ME!!!!
Posted on 7/21/11 at 9:25 pm to TigerTatorTots
quote:
I calculated my net income cleared per month will be between $3000-$3200 (After taxes, bills, expenses, entertainment).
quote:
My question is, since I will be having roughly $3000 entering my checking account every month from direct deposit,
Confused, if you are having 3000 direct deposited how did you calculate 3 grand after bills, expenses and entertainment?
Posted on 7/21/11 at 9:39 pm to barry
quote:Yea sorry, my mistake on that. What I meant to say is that I will be clearing $3,000 into my checking after I take out my expenses.
Confused, if you are having 3000 direct deposited how did you calculate 3 grand after bills, expenses and entertainment?
Posted on 7/21/11 at 9:42 pm to TigerTatorTots
quote:
Gas & Chemical industry
What are graduating in?
Congrats on the job!
Posted on 7/21/11 at 9:47 pm to TigerTatorTots
Disregard the other poster man, there's no need for you to feel ashamed of being so successful at a young age. Just max out your IRA like you're doing, build some cash reserves, but not necessarily for an emergency fund. Having a lot of cash on hand can also be great if an investment opportunity arises, or if you want a sizable down-payment on a house. But most of all, just have fun being young and don't be afraid to spend some money on entertainment! Also keep in mind the best "investment" you can really make is to make yourself as professionally desirable as possible. Keep a level head at work, develop your skillset, and let your hard work do the talking.
This post was edited on 7/21/11 at 9:48 pm
Posted on 7/21/11 at 9:54 pm to Jason9782003
Thanks
Marketing degree (not the best degree w/o a high GPA). I was able to get an interview and the rest was history!
Marketing degree (not the best degree w/o a high GPA). I was able to get an interview and the rest was history!
Posted on 7/21/11 at 9:55 pm to TigerTatorTots
Do you rent or own a home?
Posted on 7/21/11 at 9:55 pm to LSUtoOmaha
quote:
LSUtoOmaha
Thanks a lot! 
Posted on 7/21/11 at 9:57 pm to TigerTatorTots
quote:
Marketing degree
You should be extremely thankful you have a job at all. However, I call bullshite on the amount of money you are bringing in.
Posted on 7/21/11 at 9:58 pm to FunkyTiger
The current living situation is pretty ideal because I don't have to pay rent/utilities. As of now, I moved back home living in my parents house (yea yea). However, they will only be here until the end of the year because they are building a new house and will be leaving me to live in this one, only having to pay utilities.
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