- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How is my financial state at 26? Thanks for the input.
Posted on 2/14/14 at 4:36 pm to Oenophile Brah
Posted on 2/14/14 at 4:36 pm to Oenophile Brah
quote:
It's good to be dumping into retirement accounts like you suggest but that leaves him less liquid.
Not necessarily.
At the very least, he should dump into the ROTH in a money market within the ROTH. He can't get back those years where he doesn't contribute, so he might as well get it into the account. He can decide how much he takes from that MM to put into less liquid investments in the ROTH from there.
Getting money out of the ROTH where the money is only in a money market takes two, maybe 3 days. I'm sure any emergency that may arise can be taken care of without much in the way of ill effects after 48 hours.
That's what I did just now in fact, I had about $5,000 in cash and bumped it up to $10,000 in my ROTH. Didn't invest any of it from there. When I get more cash I'll slowly convert some of that into investments within the account, but the important part is I maxed my contribution for 2013.
BTW OP, marry someone with a career. Your financial future gets a lot easier without dead weight.
This post was edited on 2/14/14 at 4:42 pm
1
Posted on 2/14/14 at 6:12 pm to Teddy Ruxpin
quote:
That's what I did just now in fact, I had about $5,000 in cash and bumped it up to $10,000 in my ROTH. Didn't invest any of it from there. When I get more cash I'll slowly convert some of that into investments within the account, but the important part is I maxed my contribution for 2013.
That's funny TR, I just did the exact same thing myself.
Following the advice of some on this board, I put about 1/4 of my "emergency savings" into my Roth(opened in Sept.) to max out 2013.
I'm already on pace to max out 2014 but can do so while rebuilding my "emergency savings" again.
That being said, I still feel having an open mind to RE as an investment(especially a first home). I believe having the liquidity to make that move is worthy of consideration. Certainly it's a personal decision if one would even want to pursue rental property. My short term experience is very positive, and I wish I would have decided on it earlier.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News