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Financially literate bros, I need your advice...

I've been a poor all of my life, so I have no idea what to d...
Soul-stirring overrated library lettuce
  06/02/17
Get six months of expenses in a money market account. Then ...
bipolar dopamine
  06/02/17
exactly
Mind-boggling haunting circlehead
  06/02/17
Do I need a financial advisor or something to figure out whi...
Soul-stirring overrated library lettuce
  06/02/17
just cop an admiral fund and you're good.
offensive community account therapy
  06/02/17
No. Here, I'll do it for you: Just buy VTSAX. All done.
bipolar dopamine
  06/02/17
Thats the one
offensive community account therapy
  06/02/17
just converted a roth from VTSM to VTSAX now that it's appr...
offensive community account therapy
  06/02/17
tyty.
Soul-stirring overrated library lettuce
  06/02/17
VSGAX here. sup.
irradiated hall
  06/02/17
...
offensive community account therapy
  06/02/17
...
Pontificating organic girlfriend giraffe
  06/02/17
...
offensive community account therapy
  06/02/17
Definitely afraid of this. I live a pretty simple life, but ...
Soul-stirring overrated library lettuce
  06/02/17
...
Pontificating organic girlfriend giraffe
  06/02/17
Can confirm
burgundy talented kitty cat locale
  06/02/17
...
French lodge half-breed
  06/02/17
Honestly? Spend a few K on crypto.
Stirring alpha
  06/02/17
...
Lemon step-uncle's house laser beams
  06/02/17
Need more info to make a better judgment call. Age? Curr...
Exhilarant pink mad cow disease faggot firefighter
  06/02/17
...
Soul-stirring overrated library lettuce
  06/02/17
which gov agency do you work for in Phoenix?
offensive community account therapy
  06/02/17
...
Soul-stirring overrated library lettuce
  06/02/17
I may be joining you
offensive community account therapy
  06/02/17
...
Soul-stirring overrated library lettuce
  06/02/17
TRUMP IS GUNNA CUT ARE BENEFITS
glassy nursing home national security agency
  06/02/17
OFS
offensive community account therapy
  06/02/17
...
Soul-stirring overrated library lettuce
  06/02/17
background
offensive community account therapy
  06/02/17
If you're really looking at 5-10 years to purchase the home,...
Exhilarant pink mad cow disease faggot firefighter
  06/02/17
Max out meaning the full $18k a year?
Soul-stirring overrated library lettuce
  06/02/17
Yes. At your tax rate, solidly in the 25% bracket, you won'...
Exhilarant pink mad cow disease faggot firefighter
  06/02/17
...
Soul-stirring overrated library lettuce
  06/02/17
Do this plus max out a roth ($5500) before considering a pos...
glassy nursing home national security agency
  06/02/17
cr. Although if he's only able to save 2K/month, a roth IRA...
Exhilarant pink mad cow disease faggot firefighter
  06/02/17
He should still do a roth before a post tax fund because he ...
glassy nursing home national security agency
  06/02/17
fair, that's a good point. Have to wait 5 years to withdraw...
Exhilarant pink mad cow disease faggot firefighter
  06/02/17
Robinhood --> penny stocks
diverse gaping
  06/02/17


Poast new message in this thread



Reply Favorite

Date: June 2nd, 2017 10:25 PM
Author: Soul-stirring overrated library lettuce

I've been a poor all of my life, so I have no idea what to do with money. I'm about to pass over a hump in my debt repayment where I'll be able to put away about $2k/month on my current salary (and hopefully more as salary increases) with the eventual hope of buying a home 5-10 years down the road. What should I do with that money in the meantime? Seems like a waste to have $25k sitting in a checking account in a year.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460102)



Reply Favorite

Date: June 2nd, 2017 10:26 PM
Author: bipolar dopamine

Get six months of expenses in a money market account. Then put the rest in a vanguard index fund.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460105)



Reply Favorite

Date: June 2nd, 2017 10:26 PM
Author: Mind-boggling haunting circlehead

exactly

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460108)



Reply Favorite

Date: June 2nd, 2017 10:27 PM
Author: Soul-stirring overrated library lettuce

Do I need a financial advisor or something to figure out which fund? I browsed vanguard's site a while back and felt overwhelmed by the number of options.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460116)



Reply Favorite

Date: June 2nd, 2017 10:28 PM
Author: offensive community account therapy

just cop an admiral fund and you're good.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460124)



Reply Favorite

Date: June 2nd, 2017 10:29 PM
Author: bipolar dopamine

No. Here, I'll do it for you: Just buy VTSAX. All done.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460133)



Reply Favorite

Date: June 2nd, 2017 10:33 PM
Author: offensive community account therapy

Thats the one

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460169)



Reply Favorite

Date: June 2nd, 2017 10:35 PM
Author: offensive community account therapy

just converted a roth from VTSM to VTSAX now that it's appreciated over the $10k threshold.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460181)



Reply Favorite

Date: June 2nd, 2017 10:35 PM
Author: Soul-stirring overrated library lettuce

tyty.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460187)



Reply Favorite

Date: June 2nd, 2017 11:47 PM
Author: irradiated hall

VSGAX here. sup.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460686)



Reply Favorite

Date: June 2nd, 2017 10:28 PM
Author: offensive community account therapy



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460120)



Reply Favorite

Date: June 2nd, 2017 10:27 PM
Author: Pontificating organic girlfriend giraffe



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460114)



Reply Favorite

Date: June 2nd, 2017 10:28 PM
Author: offensive community account therapy



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460127)



Reply Favorite

Date: June 2nd, 2017 10:30 PM
Author: Soul-stirring overrated library lettuce

Definitely afraid of this. I live a pretty simple life, but I think my semi-shrew gf might pose a risk. I can see travel and Sunday brunches becoming more frequent once the savings pass a certain point. :/

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460141)



Reply Favorite

Date: June 2nd, 2017 10:31 PM
Author: Pontificating organic girlfriend giraffe



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460150)



Reply Favorite

Date: June 2nd, 2017 11:34 PM
Author: burgundy talented kitty cat locale

Can confirm

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460604)



Reply Favorite

Date: June 2nd, 2017 10:35 PM
Author: French lodge half-breed



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460184)



Reply Favorite

Date: June 2nd, 2017 10:29 PM
Author: Stirring alpha

Honestly? Spend a few K on crypto.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460138)



Reply Favorite

Date: June 2nd, 2017 11:23 PM
Author: Lemon step-uncle's house laser beams



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460552)



Reply Favorite

Date: June 2nd, 2017 10:32 PM
Author: Exhilarant pink mad cow disease faggot firefighter

Need more info to make a better judgment call.

Age?

Current salary?

401(k) options at work?

How much do you need for a downpayment?

Is 5-10 years really how far out you'll need?

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460153)



Reply Favorite

Date: June 2nd, 2017 10:35 PM
Author: Soul-stirring overrated library lettuce



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460182)



Reply Favorite

Date: June 2nd, 2017 10:36 PM
Author: offensive community account therapy

which gov agency do you work for in Phoenix?

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460202)



Reply Favorite

Date: June 2nd, 2017 10:41 PM
Author: Soul-stirring overrated library lettuce



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460239)



Reply Favorite

Date: June 2nd, 2017 10:42 PM
Author: offensive community account therapy

I may be joining you

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460251)



Reply Favorite

Date: June 2nd, 2017 10:43 PM
Author: Soul-stirring overrated library lettuce



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460267)



Reply Favorite

Date: June 2nd, 2017 10:55 PM
Author: glassy nursing home national security agency

TRUMP IS GUNNA CUT ARE BENEFITS

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460352)



Reply Favorite

Date: June 2nd, 2017 11:19 PM
Author: offensive community account therapy

OFS

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460528)



Reply Favorite

Date: June 2nd, 2017 11:22 PM
Author: Soul-stirring overrated library lettuce



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460544)



Reply Favorite

Date: June 2nd, 2017 11:34 PM
Author: offensive community account therapy

background

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460602)



Reply Favorite

Date: June 2nd, 2017 10:51 PM
Author: Exhilarant pink mad cow disease faggot firefighter

If you're really looking at 5-10 years to purchase the home, I would work on maxing out 401(k) and saving for the home at the same time.

IF your salary is going to increase in the coming years, you'll be able to accelerate your down payment savings as you get closer to the goal of buying. You can't ever really "make up" losing the tax deferred space of a 401(k).

In the meantime, I wouldn't recommend you put the down payment $$ 100% into the stock market. Use safer investments than that, or use a mix of bond/stock index funds that helps lower the risk of market corrections. For this, 40% stock / 60% bond is a reasonable mix of investments.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460310)



Reply Favorite

Date: June 2nd, 2017 10:52 PM
Author: Soul-stirring overrated library lettuce

Max out meaning the full $18k a year?

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460325)



Reply Favorite

Date: June 2nd, 2017 10:55 PM
Author: Exhilarant pink mad cow disease faggot firefighter

Yes. At your tax rate, solidly in the 25% bracket, you won't feel the pain quite as much

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460353)



Reply Favorite

Date: June 2nd, 2017 11:15 PM
Author: Soul-stirring overrated library lettuce



(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460494)



Reply Favorite

Date: June 2nd, 2017 10:57 PM
Author: glassy nursing home national security agency

Do this plus max out a roth ($5500) before considering a post tax fund

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460362)



Reply Favorite

Date: June 2nd, 2017 10:57 PM
Author: Exhilarant pink mad cow disease faggot firefighter

cr. Although if he's only able to save 2K/month, a roth IRA might be too much right now if he's also trying to save for a home. Roth IRA should come later after his salary increases.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460370)



Reply Favorite

Date: June 2nd, 2017 10:59 PM
Author: glassy nursing home national security agency

He should still do a roth before a post tax fund because he can withdraw some of it penalty free for a down payment plus I believe he could withdraw his contributions penalty free at any time

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460383)



Reply Favorite

Date: June 2nd, 2017 11:30 PM
Author: Exhilarant pink mad cow disease faggot firefighter

fair, that's a good point. Have to wait 5 years to withdraw contributions though, so timing is critical.

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460584)



Reply Favorite

Date: June 2nd, 2017 10:41 PM
Author: diverse gaping

Robinhood --> penny stocks

(http://www.autoadmit.com/thread.php?thread_id=3634744&forum_id=2#33460240)