Hey guys, Im 25 and I have about 35k in the bank, 21k in retirement, 41k personal invested, 5k in crypto. No debt. Is it smart to invest more during this down market or save for a house/wedding or something else that’s smarter?

like
Posting as :
works at
You are currently posting as works at

Continue to dollar cost average into the market. If you want to buy a house in <5 yrs, consider saving that in a high yield savings account (look into I bonds as well - will allow your cash to keep up with inflation, but will be locked away for 1 yr and would lose 3 months of interest if withdrew within 5 years. )

likehelpful

Continue to invest the same as before

$35k is a lot of cash to sit on. If you want to buy a house in the next few years , keep it in cash but at least get some I-bonds. If not, I’d funding your IRA for the year and put a little more in taxable.

What does your monthly expense look like? As a single guy/gal, I wouldn’t keep more than 3 month expense in cash. Invest the rest.

Even In bearish market? Monthly it’s about $750

Related Posts

Are contributions to an HSA account made via employer incentives (e.g. $200 added to HSA for positive results on biometric screening) tax deductible? For example, w-2 states $3,350 from payroll contributions (employer and employee contributions), but the HSA was funded $3,550 due to the incentive. Thanks!

like

So the bonus letters are right around the corner, anytime by today evening, how you planned to spend them?

Can someone suggest a 529 plan for Washington state? Since there are no state taxes, there is no state tax benefit. Which plan should I go for? I have vanguard and fidelity accounts.

like

I am an engineer, but want to get another degree in biology. But even though it's my passion I'm worried that I won't be able to get a job quickly, I have a loan to study and I'm too young to declare bankruptcy. Any hope?

like

Best credit card with no foreign transaction fees? I already have the Amex Gold but its hardly accepted abroad. Also don’t want to pay another hefty annual fee (don’t mind under $100)

like

Just a quick question - to choose old tax regime I have to select "with exemption/deductions"

like

You would think I would understand personal finance better but I don't at all

like

Hi! I am in the interview process for a channel manager position internally with my company. Currently I am in outside sales and get a company vehicle that I use for personal use (gas, insurance and maintenance included with a small monthly fee). The new role would mean giving up the benefit. What % salary increase can I expect with the offer? I don't want to fall back financially. My rent has also increased 10%. I'd hate to think the added responsibilities would result in an income loss for me

likesmart

Does anybody have a financial advisor they trust and recommend in the city?

It’s been 1 year into my first job, I don’t contribute to the 401k plan & instead put the extra money into stocks (58% of pay) and I make 10-15% annual return. Is this a bad idea? I plan on retiring and going to a place like Nepal, India, Guatemala when I retire around 40

like

Is anyone here familiar with RSUs and stock options as part of divorce? My arbitrator was not and she asked us to hire an expert to get a valuation. She’s convinced I cannot take my portion in kind if we could not settle on the value and I don’t want to be forced to sell my half to Husband at whatever valuation expert provides today (RSUs and stock options are under Husband’s name). If they low ball I rather take the risk and take them in kind. Any advice would be helpful.

like

Hey guys, has anyone purchased a home after i140 was approved? If so, what was your experience? Looking for advice. I’m Indian so the backlog is real... but I would like to stop throwing money on rent and start building an asset in my name.

like

can anyone suggest me best plan to save tax. Currently Im in 30% tax deduction slab

like

Anyone else getting a mortgage through Wells fargo recently? Their under writing process has been a back and forth that has gone on for over a month now. our loan is a little trickier (jumbo loan, gift funds involved, non American borrowers). Is this normal or should I start fresh with another lender?

like

I've 3 lacs.
Expenses: (both on dad's name)
Pending Home loan: 43k emi
Personal loan: 1.7lacs emi-3k
Liabilities: 35k
Personal expense: 42k
I also want to buy a bike (1.7 L onroad)
Can anyone please suggest an optimal approach how to fulfill all incurring minimum loss or with a good balance/ financial crunch

I'm planning to clear the personal loan as I'm not benefitting in tax exemption

So please guide if possible.

like

Do any of you have successful side passive incomes?

I see people talk on Tik Tok all the time about selling templates on Etsy or selling journals on Amazon and I always wondered how easy it was to really do that and be successful

likeuplifting

Would you buy a house with a partner you’ve been with for <2 years?

like

Anyone have insight into Indexed Universal Life insurance as a tax free investment vehicle? My financial advisor is saying there is no downside risk and 5-7% return and tax free. Sounds either too good to be true, or is this how the wealthy avoid paying taxes??

likefunny

I am relocating to Canada shortly. Are there any income tax optimizations i need to know about or need to plan for?

like

More Posts

Do we have any vacancies related to oracle apps dba having 2+yrs of exp??

like

6/6 check in thread! What y’all up to?

like

How to save tax for the money from freelance work? As i already have a full time job.

like

Hey Deloitte 🐠 is it typical to not hear back from your recruiter a week after you complete your second round? I felt good about how the interviews went but have not heard back from the recruiter even after sending her 2 notes.

like

Found a car I’d like to buy on Carvana that is just outside our budget. Thought I saw on here that they have a referral discount. Anyone know more about this / willing to help?

like

Anyone have any insight on base salary for a Staff 2 in the BC group? Got an offer the other day and was wondering if it was on the lower or higher end. Thanks!

like

Best window ac suggestions?

like

Dating in toronto sucks. Romance is dead here 🥲

likefunny

Has anyone been able to make an internal transfer to any European country or US from India?

like

What's going on with SUNW. Been falling 8% everyday. Is it good buy at these levels

like

Should I reach back to the recruiter on decision after I started new job? Would that be a red flag or they see i really like their company? I would join that company if everything's equal but had to start on current role since the other company was dragging feet a but on getting resources for the role.
They might still be waiting for approvals for the role...should I just wait for them or keep talking? Last time HR did say to check back later.

like

What is the general CTC range at AM and DM level in Deloitte in Tax

like

Manager: I’ll take it up when A is done. A: You do it. B: lol why A: he will definitely mess it up

like

On average, what is the age analysts become promoted to be associates?

like

Any female fish interested in connecting? Male here, 29, NJ.

like

Chicago fam - any recommendation for a therapist expert in family issues (e.g., dealing with toxic relatives, etc.?). New to the city and the pandemic environment has taken a toll on my SO. TIA!

like

I’m a female who lives with my SO. We’ve been dating for years and we fight a lot so it’s possible a breakup is near. Do you think it would be difficult to date while living with my ex as roommates in a 2br/2ba? We have a lease that’s not even halfway done. In other words, would a man be uninterested in a woman who’s living with her ex (but of course being appropriate after the breakup)?

like

Anyone use a nuface? Does it actually do anything?

like

Additional Posts in FIRE Financial Independence Retire Early

Anybody had experience helping spouse or close friend get over the mental block of investing, due to their growing up poor/having to support their parents and thus being unnecessarily conservative with money? Caveat that they work in finance/investment so they understand fully that historically stock markets have done ~10% return on an annualized basis. But their excuse is since they work in investment, they’ve seen too many trades/funds blowing up etc.

like

First time home buyer -

1. looking for guidance on how to find credible mortgage lenders and how to shop/negotiate interest rates as well as the loan amount

2. Is it true that pledging your stock investments as collateral helps with getting a lower interest rate?

3. If I sell some stocks to go towards down payment, are there any strategies to minimize capital gain taxes on the stocks?

I’m in NJ and looking to buy a condo in north Jersey! TIA

like

Just switched jobs and base increased 30K (essentially gross 2K/month). Tempted to just automatically invest so I never see this (401 contribution is already maxed). Seems like the right move, but any other thoughts?

like

The hardest part I'm having w/my FIRE Journey is sticking to the plan & not quitting my job now. I'd be ok if I did, but I want better than ok, + a cushion. Plus, I have 2 kids to put thru college.

like

Through some company ending an ESOP, I have the ability to roll ~$1,000,000 into my 401k or an IRA. I don’t currently have an IRA and my 401k is around 140k. Leaning towards the majority in my 401k and 100k to an IRA, but I don’t have any idea if that’s good/bad/makes no difference. Suggestions?

like

How do I start building rental property portfolio so I can FIRE?

like

It’s been 1 year into my first job, I don’t contribute to the 401k plan & instead put the extra money into stocks (58% of pay) and I make 10-15% annual return. Is this a bad idea? I plan on retiring and going to a place like Nepal, India, Guatemala when I retire around 40

like

If my math is right the new ibonds rate will be 6.2%. this is right about where I thought it would be surprised "the market" was expecting lower.

Would you buy a house with a partner you’ve been with for <2 years?

like

Anyone have insight into Indexed Universal Life insurance as a tax free investment vehicle? My financial advisor is saying there is no downside risk and 5-7% return and tax free. Sounds either too good to be true, or is this how the wealthy avoid paying taxes??

likefunny

Is wealthfront allowed at Deloitte?

Hello Fb! I'm 30 yrs old. I'm trying to figure out and plan my life to set myself up for success in the future. I wish I had known things like enrolling in a high deductible health plan at 24 when I started work so that I could enroll in a HSA for the triple tax savings or the importance of maxing out a Roth IRA or maxing out a 401K and not just to the employer match. What are some things you wish you had known earlier or by age 30? In some ways, I feel like I'm late in the game. See more 👇🏻

likesmarthelpful

Trying to figure out which is better (long term) to do between the following options
1.) Max out Traditional 401k + do backdoor Roth versus 2.) Contributing to and maxing out Roth 401k (if employer plan allows)… not sure if from a tax and long term growth perspective, one of these options makes more sense to do (or is there another option to consider for maximizing retirement contributions ?)

like

Someone hit me with that HMBradley referral, my inflation hurts

funny

Hi FIRE fish, what are your asset allocations look like and your thoughts on target date funds?

like

Does anyone tutor as a side gig? What site do you recommend to sign up to be a tutor? Can be any subject..English, math, etc

like

Should I max my Roth 401k contribution before investing in Roth IRA? Currently I’m investing 8% in Roth 401K and about $3000 in Roth IRA per year

likesmart