Hello I am... starting young!
Hello forum members,
I am 22, live in Illinois, have a great job working in corporate finance, and still live with my parents!
Currently my only debts are student loans... $56,000 to be exact. $40 of this is wrapped up in variable interest private student loans which currently avg 6.5%. The remaining $16,000 are Federal Stafford loans which have a fixed interest of 5.15%.
I am fortunate enough to work 20 minutes from my home. My parents have graciously agreed to let me continue living with them until my younger brother completes high school which will be mid-year in 2010. My only real costs of living is gas for my father's extra vehicle (which I use for commuting), entertainment expenses (I am a very frugal 22 year old), and personal purchases. I am also helping my family with groceries and car insurance with approximately $250/month.
I joined this forum because my finance background has opened my eyes to the time value of money and early investing. My current financial priorities are as follows:
(1) Fund Roth 401-k up to the company match limit
(2) Fund Roth IRA to the max each year -- I started in 2008
(3) Fund my Health Savings Account to the max each year -- I started in 2009 (currently looking for a decent HSA custodian + stock broker)
(4) Help family with groceries + car insurance
(5) Pay off student loans with whatever is left -- always more than the 'minimum' payment due each month!
My goal is to be DEBT FREE in 2.5 - 3 years!
I am very finance-focused. I put together budgets and financial models for my parents and soon my girlfriend. It feels good knowing that you have helped loved ones get their finances in order and create a strategy for debts/investments/retirement. My goal someday is to become a fee-based personal financial planner at point in the future after this corporate gig.
That's really everything in a nut shell....