Current Events > Where to find basic financial advice?

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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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#4
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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
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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)
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