Blaineatk
Dryer sheet aficionado
Hey all, I am 28 years old since the beginning of this month and I am trying to get as many passive income streams as possible and wanting to insure that with my retirement I am following a good path.
Currently, I put 12% of my income into 401(k) any my employer recently stopped all matching due to the downturn in the oil markets. I work for an oilfield company so I assume that it will come back once the oil prices return, hopefully! They were originally matching 50% up to 6%. I currently have about 12k into this account without any matching. I began contributing this year. I have this invested in a target date fund which I believe is a Vanguard fund.
I also max out an IRA and have about 14k in this account. I have been contributing to this for a little more than two years and it is in a mutual fund CWGIX. I do not know enough about mutual funds to even begin to estimate whether this is an appropriate fund for me or my goals. I use a financial adviser through my bank.
I have some cash that I can play with in checking but I try not to touch my savings as I view this as an emergency fund.
I dabble with real estate but have not done anything impressive as of yet but I hold a piece of property that I intend on building a home on in the near future. I am looking to purchase a couple rental houses sometime soon as I think I would like to obtain the residual income from these and have them as a source of income in the future.
I make a decent amount of money for my age, I believe. I work 6 months a year on ships and make about 120k (Pre tax) give or take due to crew changes and holidays. I would like to maximize the potential of this income, not for my current lifestyle but for future living so I dont end up working until lunch time on the day of my funeral.
I have lots of time to read and I know very little about investing. I have read on here about investing in Index funds and it seems that they are fairly popular. I recently made an E*trade account but havent done anything with it due to fear of the unknown and my lack of knowledge at this point.
Any direction that I could receive or experience you would like to share is greatly appreciated.
Any input on the funds or how I should go about researching where I should be looking or heading would be appreciated as well. I feel as though when I am going through an adviser for my investing that there is always the potential that they may have someone elses best interest in mind. I would like to learn how to know what is best for me or at least be able to have a knowledgeable standpoint on the topic.
So, my current situation looks like this:
IRA CWGIX: 14k
401(k) Vanguard target date fund: 12k (No current employer matching)
monthly bills: 1,843 (housing, utilities, IRA contr, car+Ins, phone, land)
Any books that anyone would recommend so that I can learn the basics and improve from there?
Thanks everyone!
Currently, I put 12% of my income into 401(k) any my employer recently stopped all matching due to the downturn in the oil markets. I work for an oilfield company so I assume that it will come back once the oil prices return, hopefully! They were originally matching 50% up to 6%. I currently have about 12k into this account without any matching. I began contributing this year. I have this invested in a target date fund which I believe is a Vanguard fund.
I also max out an IRA and have about 14k in this account. I have been contributing to this for a little more than two years and it is in a mutual fund CWGIX. I do not know enough about mutual funds to even begin to estimate whether this is an appropriate fund for me or my goals. I use a financial adviser through my bank.
I have some cash that I can play with in checking but I try not to touch my savings as I view this as an emergency fund.
I dabble with real estate but have not done anything impressive as of yet but I hold a piece of property that I intend on building a home on in the near future. I am looking to purchase a couple rental houses sometime soon as I think I would like to obtain the residual income from these and have them as a source of income in the future.
I make a decent amount of money for my age, I believe. I work 6 months a year on ships and make about 120k (Pre tax) give or take due to crew changes and holidays. I would like to maximize the potential of this income, not for my current lifestyle but for future living so I dont end up working until lunch time on the day of my funeral.
I have lots of time to read and I know very little about investing. I have read on here about investing in Index funds and it seems that they are fairly popular. I recently made an E*trade account but havent done anything with it due to fear of the unknown and my lack of knowledge at this point.
Any direction that I could receive or experience you would like to share is greatly appreciated.
Any input on the funds or how I should go about researching where I should be looking or heading would be appreciated as well. I feel as though when I am going through an adviser for my investing that there is always the potential that they may have someone elses best interest in mind. I would like to learn how to know what is best for me or at least be able to have a knowledgeable standpoint on the topic.
So, my current situation looks like this:
IRA CWGIX: 14k
401(k) Vanguard target date fund: 12k (No current employer matching)
monthly bills: 1,843 (housing, utilities, IRA contr, car+Ins, phone, land)
Any books that anyone would recommend so that I can learn the basics and improve from there?
Thanks everyone!