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Started By
Message
Financial advice
Posted on 5/14/25 at 10:03 pm
Posted on 5/14/25 at 10:03 pm
Hi, all. Looking for some advice on investing.
I am 31, no debt except for my mortgage (2.9% interest rate, so I haven't gotten super aggressive on paying it off). I owe roughly $100k and have about $100k in equity.
My employer offers a 401k with a match up to 4% and I've been dumping about 16% of my income there for a couple of years (have roughly $35k there) and have plans to continue to do so. I also have $10k and $8k respectively, in two separate retirement accounts from previous employers so I'm working on getting that all moved over.
I've also saved roughly $38k separately. I'll probably keep around $10k for an emergency fund and am looking to do something with the rest, roughly $28k and will obviously contribute more.
Just looking for some ideas on how to best utilize the savings.
I am 31, no debt except for my mortgage (2.9% interest rate, so I haven't gotten super aggressive on paying it off). I owe roughly $100k and have about $100k in equity.
My employer offers a 401k with a match up to 4% and I've been dumping about 16% of my income there for a couple of years (have roughly $35k there) and have plans to continue to do so. I also have $10k and $8k respectively, in two separate retirement accounts from previous employers so I'm working on getting that all moved over.
I've also saved roughly $38k separately. I'll probably keep around $10k for an emergency fund and am looking to do something with the rest, roughly $28k and will obviously contribute more.
Just looking for some ideas on how to best utilize the savings.
This post was edited on 5/14/25 at 10:08 pm
10
Posted on 5/14/25 at 10:08 pm to SidewalkTiger
Open a Roth IRA and Max it out
Invest it and the rest in low cost broad index funds such as vanguard VTI or VOO.
Regular contributions to these over time is the path for setting yourself up in the future.
Avoid get rich quick scams.
Invest it and the rest in low cost broad index funds such as vanguard VTI or VOO.
Regular contributions to these over time is the path for setting yourself up in the future.
Avoid get rich quick scams.
Posted on 5/14/25 at 10:11 pm to UltimaParadox
quote:
Avoid get rich quick scams.
I'm fairly conservative so this is my natural stance
This is why I've just let it sit in my checking account, even though I know that's dumb.
Posted on 5/14/25 at 10:20 pm to SidewalkTiger
quote:
I'll probably keep around $10k for an emergency fund
Depending on what you do for a living, probably not enough
Posted on 5/14/25 at 10:25 pm to SidewalkTiger
quote:
I'm fairly conservative so this is my natural stance This is why I've just let it sit in my checking account, even though I know that's dumb.
I’m 12 years older than you and did the same thing up until last year. I wish I would have asked those questions and found this board 12 years ago.
Posted on 5/14/25 at 10:28 pm to Mingo Was His NameO
quote:
Depending on what you do for a living, probably not enough
What do you mean?
Posted on 5/14/25 at 10:34 pm to SidewalkTiger
quote:
What do you mean?
Unless you work in an extremely stable economy profession $10k is probably not enough of an emergency fund
Posted on 5/14/25 at 10:43 pm to Mingo Was His NameO
I figured that'd get me 3-5 months with current expenses. Perhaps I should expand it some.
Posted on 5/14/25 at 10:53 pm to SidewalkTiger
quote:
What do you mean?
What that means is 10k doesn’t go that far. You have 38k saved so you should probably keep more in your emergency fund and invest less.
Posted on 5/14/25 at 11:01 pm to SidewalkTiger
quote:
I figured that'd get me 3-5 months with current expenses. Perhaps I should expand it some.
So if all your bills are 2k per month max,, why wouldn’t you give your self a 12 month cusion? Leave 24k for emergency and 14k to invest.
Posted on 5/14/25 at 11:36 pm to Rize
I'd still fund Roth IRA first. Contributions can always be withdrawn in event of emergency making it useful for interim emergency fund until you get yours fully funded.
Posted on 5/15/25 at 12:06 am to TorchtheFlyingTiger
quote:
I'd still fund Roth IRA first. Contributions can always be withdrawn in event of emergency making it useful for interim emergency fund until you get yours fully funded.
You would but I wouldn’t. The good news is he can do both at the same time. 10k to HYSA, 7k to Roth and he has 11k left to play with.
Posted on 5/15/25 at 6:42 am to SidewalkTiger
quote:
I also have $10k and $8k respectively, in two separate retirement accounts from previous employers so I'm working on getting that all moved over.
Because this is not clear, make sure you are moving them over to a separate IRA and not moving them over to your company's 401k plan. Better control of investments, usually less fees, and you may be able to do a ROTH conversion (this board can guide on how if possible).
Posted on 5/15/25 at 7:21 am to Weekend Warrior79
Rollover to IRA is good unless OP at some point exceeds Roth IRA income limit and wants to use backdoor Roth.
Posted on 5/15/25 at 7:35 am to Rize
quote:There are a lot of personal details that can drastically change this math. I’m 37 and don’t really have any emergency savings personally.
What that means is 10k doesn’t go that far. You have 38k saved so you should probably keep more in your emergency fund and invest less.
But I don’t want people to think that my situation is the norm and make a big mistake so I’ll say that generally speaking you’re giving good advice.
This post was edited on 5/15/25 at 7:38 am
Posted on 5/15/25 at 7:43 am to SidewalkTiger
Roth IRA - max it with $7k contribution a year. Roll with a generic SP500 index
Posted on 5/15/25 at 7:45 am to SidewalkTiger
If you have only been investing 16% of your salary into retirement for the last 2 years, that means you started doing that at 29. IMO, if you start at at 15% minimum at your first job after high school/college, then you never need to increase the percentage and will be just fine by retirement, even possibly early retirement. Since you were a bit late on that, I'd probably up the 16% to 18% or so. It doesnt all need to be in your 401k. After you have met your company match requirement, consider using an HSA if you have one or an IRA until you get to the 18%. Then when your 18% is maxing out the HSA and IRA, go back to putting the excess in the 401k. Once you are to the point your 18% is maxing out your 401k, HSA and IRA options, then start a brokerage account.
Posted on 5/15/25 at 9:34 am to SidewalkTiger
quote:At least 200 shares of NBIS. That's all I've got.
Just looking for some ideas on how to best utilize the savings.
Posted on 5/15/25 at 11:30 am to SidewalkTiger
10k ina HYSA which will grow overtime if you don't touch this.
14k in QQQ
14K in VOO
Add to both overtime but your all set with this strategy
14k in QQQ
14K in VOO
Add to both overtime but your all set with this strategy
Posted on 5/15/25 at 7:28 pm to tigerbacon
quote:
10k ina HYSA
Any good recs for good HYSA's?
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