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sutree 12/08/17 10:47:47 PM #1: |
So I have a decent job and a cheap lifestyle and I don't really know what to do with my money. I put 12% of my paycheck in a 403b plus my employer matches another 4%. Like how much should I have in savings, and if I still have extra do I just up my percentage going into retirement? That sort of stuff.
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Manocheese 12/08/17 10:49:01 PM #2: |
I suggest reading a book on investing.
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RE_expert44 12/08/17 10:49:33 PM #3: |
Put it on r/personalfinance
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prince_leo 12/08/17 11:00:25 PM #5: |
specifically what you just said, roughly speaking -
put the minimum amount you need in your 403b to get the maximum amount of employee matching make sure you have 3 - 6 months of salary / spending (depends on how conservative you're willing to be) in savings max out a roth ira (most likely $5,500 a year for you) rest into your 403b until you hit maximum contribution ($18,000 a year) that should get you started. i'm sure there are other things you could do that are better depending on your willingness to learn / put in effort, but this is working out well for me currently --- ... Copied to Clipboard!
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FightingGames 12/08/17 11:02:52 PM #6: |
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Darkman124 12/10/17 12:44:39 PM #7: |
generally it's good to have six months' salary (after tax) in savings so you can sustain major shocks without altering your strategy
leo's post is good though i will note that 401ks stop having value to the investor once your AGI drops below the threshold at which the tax rate jumps from 15% to 25% at that point you may as well invest in a cash management account (taxed normally) --- And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not. ... Copied to Clipboard!
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