Klubbie
Recycles dryer sheets
Hi there. My name is Michael, from Ohio, and I'm 28 years old and new to the forums. I am looking forward to being active on these forums and taking in some great advice from everyone, and as time goes on, give back some of the knowledge I gain.
I know jyllbean83 posted a similar thread to mine just earlier this week, so I hate to be repetitive, but am curious on what others think about my personal situation. As I mentioned, I am 28 years old. I just graduated an MBA program in May. I was working as a contractor with a financial services firm and then brought on full time as of October 1. I currently have about 7K in a Roth IRA, another 4K invested in an index fund, about 500 in other securities. I am about to set up my 401K with my employer at a 10% contribution (they will match 5%), and I am also contributing about 1-2% of my salary towards company stock purchases (we purchase at a 5% discount).
My bank account is rather thin due to being a full time student the past two years. I also incurred debt as a student and have about 2K left on 14K in credit card debt I've been paying down. But that said, my goal is to pay the credit card debt I incurred before and during business school off so that I am no longer in credit card debt. I plan to stash away an emergency fund as soon as my credit card is completely gone (should be in about a month).
I do have around 100K in student loans at a 7% interest rate that isn't going away any time soon.
So, I am just curious what others think I could possibly be doing to prepare for retirement and save. I am always curious to hear about what others think based on their own experiences.
Thanks for any insight and I am excited to be a part of these forums!
I know jyllbean83 posted a similar thread to mine just earlier this week, so I hate to be repetitive, but am curious on what others think about my personal situation. As I mentioned, I am 28 years old. I just graduated an MBA program in May. I was working as a contractor with a financial services firm and then brought on full time as of October 1. I currently have about 7K in a Roth IRA, another 4K invested in an index fund, about 500 in other securities. I am about to set up my 401K with my employer at a 10% contribution (they will match 5%), and I am also contributing about 1-2% of my salary towards company stock purchases (we purchase at a 5% discount).
My bank account is rather thin due to being a full time student the past two years. I also incurred debt as a student and have about 2K left on 14K in credit card debt I've been paying down. But that said, my goal is to pay the credit card debt I incurred before and during business school off so that I am no longer in credit card debt. I plan to stash away an emergency fund as soon as my credit card is completely gone (should be in about a month).
I do have around 100K in student loans at a 7% interest rate that isn't going away any time soon.
So, I am just curious what others think I could possibly be doing to prepare for retirement and save. I am always curious to hear about what others think based on their own experiences.
Thanks for any insight and I am excited to be a part of these forums!