Hello everyone!
I've been reading this forum on and off and have recently decided to commit myself 100% to ER now that I'm out of school and working full time. Here is my current financial situation:
1. 401k: $8k (will max out to about $24k w/employer contribution in 2015)
2. Roth IRA: $11.5k (maxed out for 2014/2015)
3. HSA $6.7k (maxed out for 2014/2015, $4.7k invested)
4. Brokerage: $10k
5. Savings: $10k (will increase to $15k by the end of 2015)
I make $94k/year and am single. My only major expense is rent which is around $800 month. I plan to max out all my tax-advantaged accounts as long as I can and contribute around $15-20k/yr to my brokerage, which is currently in Vanguard split 70/30 between the total stock market and total int'l mutual funds. I don't plan to own a house anytime soon mostly to make moving out-of-state for work easier if necessary in the future.
The only real thing that gets me down is that I'm 28. I recently finished a PhD in a STEM field and started working half-time last July and full-time last December. I didn't make much as a graduate student, but could have at least contributed $1-2k/year to a Roth IRA starting in 2009 ( !!) had I been smarter. I'm hoping to see salary growth in the next few years, and can probably make an extra $10-15k/yr if I adjunct teach at a university at some point.
I would LOVE to retire by my early 40s, which seems borderline feasible. Does anyone have any suggestions based on this information? Should I just continue to pump as much money into my brokerage account as possible while keeping expenses low? Should I consider branching out into other income-generating fields like real-estate (buying and renting out homes?) Would owning a home be advantageous at some point?
My dream would be to retire and spend most of my time traveling and living in other (and cheaper) countries.
Thanks for all your help, I'm glad to finally be on board!
I've been reading this forum on and off and have recently decided to commit myself 100% to ER now that I'm out of school and working full time. Here is my current financial situation:
1. 401k: $8k (will max out to about $24k w/employer contribution in 2015)
2. Roth IRA: $11.5k (maxed out for 2014/2015)
3. HSA $6.7k (maxed out for 2014/2015, $4.7k invested)
4. Brokerage: $10k
5. Savings: $10k (will increase to $15k by the end of 2015)
I make $94k/year and am single. My only major expense is rent which is around $800 month. I plan to max out all my tax-advantaged accounts as long as I can and contribute around $15-20k/yr to my brokerage, which is currently in Vanguard split 70/30 between the total stock market and total int'l mutual funds. I don't plan to own a house anytime soon mostly to make moving out-of-state for work easier if necessary in the future.
The only real thing that gets me down is that I'm 28. I recently finished a PhD in a STEM field and started working half-time last July and full-time last December. I didn't make much as a graduate student, but could have at least contributed $1-2k/year to a Roth IRA starting in 2009 ( !!) had I been smarter. I'm hoping to see salary growth in the next few years, and can probably make an extra $10-15k/yr if I adjunct teach at a university at some point.
I would LOVE to retire by my early 40s, which seems borderline feasible. Does anyone have any suggestions based on this information? Should I just continue to pump as much money into my brokerage account as possible while keeping expenses low? Should I consider branching out into other income-generating fields like real-estate (buying and renting out homes?) Would owning a home be advantageous at some point?
My dream would be to retire and spend most of my time traveling and living in other (and cheaper) countries.
Thanks for all your help, I'm glad to finally be on board!