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What percentage of my savings should be in stocks?
Posted on 11/8/17 at 6:20 pm
Posted on 11/8/17 at 6:20 pm
I'm still a postgrad student and dont have time for a job, but I want to know what I should do with my savings for now. I took out student loans to pay for my tuition, so I'll be in a considerable amount of debt when I get out. Fortunately my parents still cover my monthly expenses. What should I do with the little chuck of change I have in my savings account. I've recently invested in some stock, but what amount of my savings should I invest? Or should I be doing something completely different?
3
Posted on 11/8/17 at 6:22 pm to Mr B Walker
quote:
What should I do with the little chuck of change I have in my savings account.
Do you need that savings in the next 5 years?
No? All of it
Yes? None of it
I'd pay down debt depending on the rate.
Posted on 11/8/17 at 7:20 pm to barry
quote:
I'd pay down debt depending on the rate.
I'd pay down debt to keep cash flow good before your parents cut you off. Take advantage of the free living to get ahead so you don't have to risk having those loans long term.
Posted on 11/8/17 at 7:47 pm to UpstairsComputer
I'd like to get out of debt as quickly as i can, but the amount of savings I have wouldn't put a very big dent in my student loans. If I drained my savings, I would only have paid off 10% of the principal of my student loans. Given the large amount of student loans I have, and the small amount of savings i have, I do not know how smart it is for me to start paying off my loans until I have a job.
Posted on 11/8/17 at 7:55 pm to Mr B Walker
quote:
I do not know how smart it is for me to start paying off my loans until I have a job.
Then there is no way you should put that money into the stock market if that's your concern.
Posted on 11/8/17 at 7:59 pm to Mr B Walker
Cash, pay off loans, or blow it on an adventure would be my advice.
Posted on 11/8/17 at 8:00 pm to Mr B Walker
You need some cash saved up as an emergency fund. Stick that in a Roth and invest in something very, very conservative like a short duration government bond fund or something of that sort. Because it's a Roth you can always pull out what you put in without a penalty, but any gains are tax free.
But until you get your "real job" when your income should skyrocket you shouldn't be taking many risks with that savings. When you do though you'll have to choose between paying off student loans and various long-term investing options. Then much depends on the interest rate on your loans and their durations. Don't forget to include the effect of tax deductions if they apply.
Good luck!
But until you get your "real job" when your income should skyrocket you shouldn't be taking many risks with that savings. When you do though you'll have to choose between paying off student loans and various long-term investing options. Then much depends on the interest rate on your loans and their durations. Don't forget to include the effect of tax deductions if they apply.
Good luck!
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