Financial Independence Daily FI discussion thread - March 28, 2020 |
- Daily FI discussion thread - March 28, 2020
- 20F checking in exactly 1 year after finding this sub
- Where Should I Start?
| Daily FI discussion thread - March 28, 2020 Posted: 28 Mar 2020 01:08 AM PDT Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments]  |
| 20F checking in exactly 1 year after finding this sub Posted: 28 Mar 2020 08:54 AM PDT Hi all, This time last year I won an academic scholarship and took to this sub and personalfinance for advice on what to do with the money. 4/1/2019 I opened a Roth IRA and stashed $50 in it without a single clue about what stocks and bonds were. I even had to call customer service to tell me to put it into the money market fund because I was THAT confused. I was premed, going out to eat 2 or 3 times a week, and didn't budget. Now, this is what my finances look like: Interning in management consulting, but kept my biology major Roth IRA contributions: $9000 (Currently 30% down, but I don't mind) Brokerage balance: $1400 Self funded 529: $530 Emergency fund (lol): $300 I know...I just had something come up, was $2500 before Still going out to eat a lot, but my budget allows me to still max out my Roth Due to a lot of uncertainty going on, my plan is to aggressively build up my emergency fund back to $2000, then continue to max my Roth IRA. It's currently invested in 100% equity, 70/30 domestic/international split. After these goals are satisfied, I'll start saving for a down payment on a multi family apartment that I'll live in. How am I doing? My goal is to be FI and have the ability to retire early Edit: After my emergency fund reaches $2k, I'll continue to contribute to it, but not to such an extent that I sacrifice Roth IRA contributions. I do have family members I can rely on, but I prefer not to for the time being Changed "working" to "interning" I'm a junior in college [link] [comments]  |
| Posted: 28 Mar 2020 04:43 PM PDT Hello lovely savers, I've decided to use my boredom to do a lil good. I have had a rough stress. Have been homeless for the past two years due to family violence and have just landed an apartment that costs me $750 a month with a $36k salary. My current expenses are as followed: Rent: $750 Monthly Metro: $130 Phone/IPad Bill: $200 Food: Fluctuates I have a lot of debt because I was being financially abused and I would like to take care of this in a way that won't send me into a panic. I come from a poor immigrant family. But I'd like to do better for myself. I have a total of $48,000 debt due to getting my car repo'd when I was homeless, student loans from my undergrad and some masters, and hospital bills from when I was inpatient. How do you all suggest I manage this? My monthly income is about $1180 after taxes. [link] [comments]  |
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