Hello,
I live and work in West Los Angeles doing IT work.
Income:
Base: 80k
Bonuses: 18k
Project based bonuses: ~0k to ~20k depending on as of yet unknown factors. Will see what happens.
Income is expected to continue to rise. I could likely go and make ~110k base + bonuses if I left this current company (which I might..)
Expenses: (monthly)
Rent: 1950 (includes garage and utilities)
Food: ~600 (this includes eating out, alcohol, etc)
Insurance: 75
Gas: ~50
Cell phone: 0 (paid for by company)
Health insurance: 0 (paid for by company)
Travel (pleasure and holiday traveling): ~200
Misc: ~100
Savings:
401k: 18,000 year
Roth: 5,500 a year (but am waiting to see what bonuses will be this year before I contribute, otherwise it's earmarked for taxable savings)
Typically will shuffle any 'extra' money (bonuses etc) into savings or investing.
Assets: (no debt, paid off ~35k of student loans in a couple years after graduation)
Emergency / slush fund: ~9k
401k: 21k 90/10 between VTI and BND
Roth: 16k in VFIFX
Rollover IRA: 14k in VFIFX
Since I have a significant bonus coming at the end of the year (expect anywhere from 10k to 20k after taxes), I was contemplating what to do with the 'windfall'
Options:
1. Down payment on a condo here via FHA loan (or traditional 5% down) (but is buying real estate worthwhile?)
2. Invest the windfall in a taxable account in my normal allocation. Likely would just put it into VTSAX
3. ?? Anything I'm missing?
Upcoming expenses:
N/A unless I move jobs and suddenly need to use my car for transit to work. But it probably has another couple years of heavy use of life left in it. I don't mind buying another cheap car when this one dies.
I live and work in West Los Angeles doing IT work.
Income:
Base: 80k
Bonuses: 18k
Project based bonuses: ~0k to ~20k depending on as of yet unknown factors. Will see what happens.
Income is expected to continue to rise. I could likely go and make ~110k base + bonuses if I left this current company (which I might..)
Expenses: (monthly)
Rent: 1950 (includes garage and utilities)
Food: ~600 (this includes eating out, alcohol, etc)
Insurance: 75
Gas: ~50
Cell phone: 0 (paid for by company)
Health insurance: 0 (paid for by company)
Travel (pleasure and holiday traveling): ~200
Misc: ~100
Savings:
401k: 18,000 year
Roth: 5,500 a year (but am waiting to see what bonuses will be this year before I contribute, otherwise it's earmarked for taxable savings)
Typically will shuffle any 'extra' money (bonuses etc) into savings or investing.
Assets: (no debt, paid off ~35k of student loans in a couple years after graduation)
Emergency / slush fund: ~9k
401k: 21k 90/10 between VTI and BND
Roth: 16k in VFIFX
Rollover IRA: 14k in VFIFX
Since I have a significant bonus coming at the end of the year (expect anywhere from 10k to 20k after taxes), I was contemplating what to do with the 'windfall'
Options:
1. Down payment on a condo here via FHA loan (or traditional 5% down) (but is buying real estate worthwhile?)
2. Invest the windfall in a taxable account in my normal allocation. Likely would just put it into VTSAX
3. ?? Anything I'm missing?
Upcoming expenses:
N/A unless I move jobs and suddenly need to use my car for transit to work. But it probably has another couple years of heavy use of life left in it. I don't mind buying another cheap car when this one dies.