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re: What would you do if you were me?
Posted on 5/26/15 at 2:14 pm to Aubs10
Posted on 5/26/15 at 2:14 pm to Aubs10
Honestly, I wouldn't change a thing. At your age and income level, and with that generous an employer match on the 401k, you're already ahead of the game and doing better than 99% of your 22 year old peers.
Taking $5k from that $20k and opening a ROTH wouldn't hurt you. Then you can just start throwing some money in it every month, say $500.
It's a good idea to keep 3-6 months of your salary in some sort of liquid account you can easily access if you were to lose your job for some reason. So I wouldn't take all of that out.
Taking $5k from that $20k and opening a ROTH wouldn't hurt you. Then you can just start throwing some money in it every month, say $500.
It's a good idea to keep 3-6 months of your salary in some sort of liquid account you can easily access if you were to lose your job for some reason. So I wouldn't take all of that out.
1
Posted on 5/26/15 at 2:28 pm to The Spleen
quote:
It's a good idea to keep 3-6 months of your salary in some sort of liquid account you can easily access if you were to lose your job for some reason. So I wouldn't take all of that out.
It should be 3-6 months of living expenses, not salary since he is saving so much.
Personally I would keep 2-3k in a bank account, throw as much as you can in a roth and then invest the rest in the market. Unless something like a home or car purchase is planned. Then set that aside.
But don't buy a house when you are 22, that is retarded.
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