{ "media_type": "text", "post_content": "I’m 27 and a noob at investing. Make 100k salary, contribute 10% to 401k, max out on Roth IRA, and have $75,000 in savings. What should I do with my savings? Hire a financial advisor?", "post_id": "5d28e43a5ffbf7001be8fdb9", "reply_count": 29, "vote_count": 0, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

I’m 27 and a noob at investing. Make 100k salary, contribute 10% to 401k, max out on Roth IRA, and have $75,000 in savings. What should I do with my savings? Hire a financial advisor?

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Develop perspective. You're rich compared to most.

likeuplifting

Oh the joneses

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max out your 401k, you have $9k/year right now of tax advantaged savings you aren't using. make more money read about backdoor Roth IRA / mega backdoor Roth. soon you will be making enough and these will start to matter. for your savings, that is too much in Cash in my opinion. you need to be making like $300k+ in bay area to afford the mortgages. until that time, out your savings to work and invest in the market.

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You could try a global allocation diversified portfolio

I would max out 401k so you don’t leave money on the table. Then go for HSA and max that out too. Anything else, you will have to put into taxable accts. Buy half dozen ETFs (look up some names, you only need a few). Wash rinse repeat and watch out for life style inflation.

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Absolutely. It’s a versatile tool and highly tax efficient. Use it to your advantage.

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Max out roth/traditional IRA, max out 401K, contribute max to HSA, then do mega-backdoor roth and do a conversion ladder in your later years. In that order.

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A financial advisor is not necessarily a bad move once you have a very high net worth. Sub 250k investable assets you can go it alone

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I also live in SF and want to buy a house in the Bay Area. Any help would be appreciated!

move somewhere else.

likesmartfunny

buy some bitcoin

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