Hi all -
I haven't had a chance to post in a while (or often for that matter) due to being an indentured servent in my career and going to school part time at night, but I'm evaluating 2008 goals and I had some questions. I'll post some details below, but if you can comment and answer two questions then I would greatly appreciate it. FYI, I'm 26 (for what it's worth) and I do everything on www.fidelity.com.
2008 Goals
- Continue to max out 401k, Roth IRA, and company stock options (10% of pretax income used to purchase company stock at a 15% discount every quarter).
- Continue to plow the balance into my personal portfolio. Strategy is aggressive growth stocks, both domestic and foreign. I will begin to trade options this year after spending time in a simulator for most of 2007, but won't be playing with too much money in the der. markets (I'm still a rookie).
- $17,095.00 sits in a lame escrow account - measly interest. This was earnest money used for a pre-construction condo that was going to be my first home, but after reviewing rents in the area, I will rent this out once it's completed in early 2009.
- Continue to work like a dog to beef up the raise
- Continue with classes at night; rock the CFA exam this June and get a nice bonus
- Remind myself daily that there is light at the end of the tunnel. It won't be this way forever!
Need advice
- I'd like to set up an emergency fund of roughly $5,000.00. I never set one up, and it's about time I did this. What is the best way to go? I was thinking of getting a money market account, but wasn't sure. Any suggestions? If money market is the way to go, is there one that you would recommend?
- Dumb question, but honestly, I don't know the answer to this! When they say you can contribute a max of X amount to a 401k or IRA for Y year, is the year on a cala or fiscal basis?
I can provide additional details, but decided to spare them. Please let me know if you would need to know anything else. Thanks!
I haven't had a chance to post in a while (or often for that matter) due to being an indentured servent in my career and going to school part time at night, but I'm evaluating 2008 goals and I had some questions. I'll post some details below, but if you can comment and answer two questions then I would greatly appreciate it. FYI, I'm 26 (for what it's worth) and I do everything on www.fidelity.com.
2008 Goals
- Continue to max out 401k, Roth IRA, and company stock options (10% of pretax income used to purchase company stock at a 15% discount every quarter).
- Continue to plow the balance into my personal portfolio. Strategy is aggressive growth stocks, both domestic and foreign. I will begin to trade options this year after spending time in a simulator for most of 2007, but won't be playing with too much money in the der. markets (I'm still a rookie).
- $17,095.00 sits in a lame escrow account - measly interest. This was earnest money used for a pre-construction condo that was going to be my first home, but after reviewing rents in the area, I will rent this out once it's completed in early 2009.
- Continue to work like a dog to beef up the raise
- Continue with classes at night; rock the CFA exam this June and get a nice bonus
- Remind myself daily that there is light at the end of the tunnel. It won't be this way forever!
Need advice
- I'd like to set up an emergency fund of roughly $5,000.00. I never set one up, and it's about time I did this. What is the best way to go? I was thinking of getting a money market account, but wasn't sure. Any suggestions? If money market is the way to go, is there one that you would recommend?
- Dumb question, but honestly, I don't know the answer to this! When they say you can contribute a max of X amount to a 401k or IRA for Y year, is the year on a cala or fiscal basis?
I can provide additional details, but decided to spare them. Please let me know if you would need to know anything else. Thanks!