Hey Guys,
New to the forum but I have been lurking for a month now. I know ultimately I need to decide what the right asset management path is for me but I would love the opinion of anyone that is willing to share it.
Here is my profile…
Assets:
Home:
Debt:
Credit Card Debt: $0
Student Loans: $0
Car Loans $0
(outside of my mortgage I literally have no debt)
Notes: My wedding is already paid in full so I have no foreseen near term (5 years+) needs for the savings. She has zero debt – a good, secure job – minimal savings (less than $5K) but contributes to it regularly.
This is my opinion. I am doing better than high percentage of 27 year olds in the US and I still live well below my means. My cash savings position is too high on both my checking and High Yield Savings accounts I should invest in stocks. If I just keep the path I am going I will be in good shape.
Any advice or suggestions for me to consider as build out my retire early investment strategy.
Thank you in advance,
Nick D.
New to the forum but I have been lurking for a month now. I know ultimately I need to decide what the right asset management path is for me but I would love the opinion of anyone that is willing to share it.
Here is my profile…
- Age: 27
- Occupation: Sales
- Income: Between $100K to $250K a year
- Job Security: Very High
- Average Monthly ‘Take Home’: $4k
- Monthly Living Expenses: $3K (Fiancé also pays me $1K per month so net cost is $2K)
Assets:
- Cash High Yield Savings: $125,000
- Sleep at night ‘Emergency Funds’ Money Market Savings: $10,000
- Checking Account: $5,000
- Brokerage: $15,500 (100% stocks)
- 401K: $68K (maxed out the last two years)
- 100% invested into S&P 500 Index Fund
Home:
- Home Value: $409,000
- Home Equity: $76,000
- Loan: $333,000 – 30 Year fixed at 5.5% Interest.
- I am also making 1 extra payment to my principal per year.
Debt:
Credit Card Debt: $0
Student Loans: $0
Car Loans $0
(outside of my mortgage I literally have no debt)
Notes: My wedding is already paid in full so I have no foreseen near term (5 years+) needs for the savings. She has zero debt – a good, secure job – minimal savings (less than $5K) but contributes to it regularly.
This is my opinion. I am doing better than high percentage of 27 year olds in the US and I still live well below my means. My cash savings position is too high on both my checking and High Yield Savings accounts I should invest in stocks. If I just keep the path I am going I will be in good shape.
Any advice or suggestions for me to consider as build out my retire early investment strategy.
Thank you in advance,
Nick D.