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Started By
Message
When did you start investing outside retirement accounts?
Posted on 3/27/13 at 10:43 am
Posted on 3/27/13 at 10:43 am
Thread idea stolen from bogleheads LINK. I am interested in knowing at what point MT reader's did investing outside of retirement. Was it before retirement investing, after a significant raise, etc...
I currently only do retirement and savings and am 23. I want to be able to max out my retirement accounts on a year to year basis, or contribute a significant portion of my salary, before I do personal investments.
I currently only do retirement and savings and am 23. I want to be able to max out my retirement accounts on a year to year basis, or contribute a significant portion of my salary, before I do personal investments.
4
Posted on 3/27/13 at 11:00 am to RickAstley
I wish.
401k max is 17k on its own. HSA is 3,250 and Roth is $5,500, ignoring eligibility requirements I'd love to have 25k just to stash.
Which makes me think. With a boatload of loans and our household gross income of 170k once married and she starts working, I need to talk to a financial guy to make sure I'm doing everything right. Adding a person is making shite weird.
401k max is 17k on its own. HSA is 3,250 and Roth is $5,500, ignoring eligibility requirements I'd love to have 25k just to stash.
Which makes me think. With a boatload of loans and our household gross income of 170k once married and she starts working, I need to talk to a financial guy to make sure I'm doing everything right. Adding a person is making shite weird.
This post was edited on 3/27/13 at 11:04 am
Posted on 3/27/13 at 11:14 am to Teddy Ruxpin
quote:
401k max is 17k on its own. HSA is 3,250 and Roth is $5,500
This is what I do (but I'm older and have the income finally
). That is pretty much the extent of my investment goals, I figure if I can hit that each year I'll enjoy hookers and blow the rest of the year without feeling a shred of guilt.Posted on 3/27/13 at 11:51 am to foshizzle
quote:
This is what I do (but I'm older and have the income finally ). That is pretty much the extent of my investment goals, I figure if I can hit that each year I'll enjoy hookers and blow the rest of the year without feeling a shred of guilt.
I'd be the same way. I'd be so pumped to max all 3. As of now I need 15,000 more dollars. Easy Peasy.
This post was edited on 3/27/13 at 11:52 am
Posted on 3/27/13 at 12:25 pm to RickAstley
I actually just got back from opening my Roth account and deposited the 2013 max of $5,500. I put 5% in my 401k to get the company match and honestly only put in $50 a month in my HSA.
Thinking about using my brokerage account in the next year or so. I'm 24 in my first year out of college.
Thinking about using my brokerage account in the next year or so. I'm 24 in my first year out of college.
Posted on 3/27/13 at 12:34 pm to Teddy Ruxpin
quote:
401k max is 17k on its own
$17.5k, but who's counting.....
From experience, it's a lot easier for a couple to save $$,$$$ annually at the income you anticipate, especially if you have little debt and aren't big spenders. Get income up > $250k and $$$,$$$ annual savings is easy enough.
Posted on 3/27/13 at 12:35 pm to Teddy Ruxpin
quote:
I'd be the same way. I'd be so pumped to max all 3.
meh. I could if i wanted to but i just max the roth. i only put in what they match on the 401k. That is enough exposure to those markets. I need the extra money for other investments like actual RE and commodities. Yes, I have a REIT also in my portfolio but I am talking actual passive income producing properties.
Posted on 3/27/13 at 2:01 pm to Fat Bastard
quote:
meh. I could if i wanted to but i just max the roth. i only put in what they match on the 401k. That is enough exposure to those markets. I need the extra money for other investments like actual RE and commodities. Yes, I have a REIT also in my portfolio but I am talking actual passive income producing properties.
Fair enough. But what if I have enough for all that and a bag of chips?
quote:
I actually just got back from opening my Roth account and deposited the 2013 max of $5,500. I put 5% in my 401k to get the company match and honestly only put in $50 a month in my HSA.
I may be wrong, but I think you should have maxed 2012 first, you have until tax day to do so. Then you could have put $500 towards 2013 with $5,000 left to go for the 2013 current year. Change it now if you can.
This post was edited on 3/27/13 at 2:04 pm
Posted on 3/27/13 at 3:00 pm to Teddy Ruxpin
quote:
I may be wrong, but I think you should have maxed 2012 first, you have until tax day to do so. Then you could have put $500 towards 2013 with $5,000 left to go for the 2013 current year. Change it now if you can.
Correct.
Posted on 3/27/13 at 4:41 pm to foshizzle
quote:
guilt
I gave this up for lent
Posted on 3/27/13 at 4:57 pm to white perch
I opened my Roth when in high school and put like 1k in it and have been saving as much as I can.
Max out 401k match and trying to get my emergency fund up to the amount we want, then investing after that between a mix of RE and the market.
And yeah with 2 good incomes, it's much easier to save.
Max out 401k match and trying to get my emergency fund up to the amount we want, then investing after that between a mix of RE and the market.
And yeah with 2 good incomes, it's much easier to save.
Posted on 3/27/13 at 10:49 pm to RickAstley
Once and my wife hit the point where we could invest outside of the Roth limits we started secondary accounts with disposable income . It borders along the lines of a savings account, secondary retirement account, and gambling funds.
For the most part it's not money we expect to need in the next 5 years. We still reinvest the dividend outcome, but we also speculate and we buy options. So there's a lot going on
For the most part it's not money we expect to need in the next 5 years. We still reinvest the dividend outcome, but we also speculate and we buy options. So there's a lot going on
Posted on 3/28/13 at 7:41 am to Jp1LSU
any of you use Vanguard?
Posted on 3/28/13 at 8:46 am to HailToTheChiz
Lots of us do. What's your question?
Posted on 3/28/13 at 9:05 am to Teddy Ruxpin
I'm looking to get started, was wondering how it is? How easy to use? Pretty much a noob
Posted on 3/28/13 at 9:08 am to Jp1LSU
quote:
Once and my wife hit the point where we could invest outside of the Roth limits we started secondary accounts with disposable income .
Do you guys have a 401(k) along with your IRAs?
Posted on 3/28/13 at 10:00 am to HailToTheChiz
quote:
I'm looking to get started, was wondering how it is? How easy to use? Pretty much a noob
Very easy to use once you start the process. The site isn't full of bells and whistles like some others, but if you are with Vanguard then you probably don't need a lot of those anyways.
The sticking point for many (unless this has changed) is that you need a "sweep" account (where the cash for your buys and sells come and go) and a "brokerage" account which holds your securities.
This is basically set up automatic as you do account creation, but what it means to you is when setting up the sweep account (money market), you'll need $3,000 to open it. After that its all good, you can buy ETFs with no minimum initial investment and you can drain that sweep money market account down to basically zero with no consequence. Its just that initial 3k hurdle.
quote:
Do you guys have a 401(k) along with your IRAs?
100% match up to first 3% and 50% match up to 5%. The selections suck but doubling your money automatically is sweet.
This post was edited on 3/28/13 at 10:02 am
Posted on 3/28/13 at 10:22 am to RickAstley
I started non-retirement saving in college and just kept going. I have always been close to the max on my 401k contributions, and I max my ROTH every year.
I save money outside of retirement because I like the flexibility. When I was house shopping, I knew 100% I would qualify for my mortgage and I was able to use saved money to pay down 20%.
But to answer your question, my savings to go retirement first and non-retirement gets the leftovers. If you're young, there's no problem biasing more towards non-retirement, so long as you're saving.
I save money outside of retirement because I like the flexibility. When I was house shopping, I knew 100% I would qualify for my mortgage and I was able to use saved money to pay down 20%.
But to answer your question, my savings to go retirement first and non-retirement gets the leftovers. If you're young, there's no problem biasing more towards non-retirement, so long as you're saving.
Posted on 3/28/13 at 10:39 am to Teddy Ruxpin
quote:
Fair enough. But what if I have enough for all that and a bag of chips?
knock yourself out bro!
Posted on 3/28/13 at 10:50 am to HailToTheChiz
quote:
any of you use Vanguard?
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