ACanthony
Confused about dryer sheets
Hello- My name is Anthony. I was fortunate enough to win a poker tournament online last week and the Poker Site (yes it is legit) is sending me a check for $1600 that should arrive this week. I am very finicky with my money and am just trying to decide exactly where to allocate this $1600. I appreciate your advise as to where I should stick this money. Here's my situation:
Age: 24 years old, making a measley $35k a year. Don't have too much bills though, and am able to save about $400-700 a month
$7300 in a ROTH IRA at Vanguard and can contribute $1300 more in 2008
$1100 in my company 401k
$8600 in a Evergreen Omega Mutual Fund, this is a large cap fund I believe (I should probably know this shouldn't I)
$2800 in an ING savings account
Just a $100 or 2 in my checking.
minimal student loans. I believe my loans are down to $2000, and it's basically little interest and I'm in no hurry to pay it off.
Option 1: Stick the whole thing in my ROTH so I'm done for my contributions in 2008 and put the remaining $300 in my ING (I've been contributing pretty consistently to my ROTH so I should have no trouble reaching the MAX if I don't chose this option)
Option 2: Stick the whole thing in my ING. This ING account is basically towards my house fund which I plan on buying in oh, say about 5 years (The Evergreen Omega Mutual fund is for this purpose as well).
Option 3: Take the $1600 and also take out $1400 of my ING account and open up a taxable account at Vanguard (min. for Vanguard is $3,000 with the exception of the STAR fund which is $1k).
Which option would you lean towards and why? I'm very finicky with my money and like to see it go to good use. I'm trying to retire early and enjoy life to the fullest. I appreciate the help. Right now I'm leaning towards option #3. Thanks again! -Anthony
Age: 24 years old, making a measley $35k a year. Don't have too much bills though, and am able to save about $400-700 a month
$7300 in a ROTH IRA at Vanguard and can contribute $1300 more in 2008
$1100 in my company 401k
$8600 in a Evergreen Omega Mutual Fund, this is a large cap fund I believe (I should probably know this shouldn't I)
$2800 in an ING savings account
Just a $100 or 2 in my checking.
minimal student loans. I believe my loans are down to $2000, and it's basically little interest and I'm in no hurry to pay it off.
Option 1: Stick the whole thing in my ROTH so I'm done for my contributions in 2008 and put the remaining $300 in my ING (I've been contributing pretty consistently to my ROTH so I should have no trouble reaching the MAX if I don't chose this option)
Option 2: Stick the whole thing in my ING. This ING account is basically towards my house fund which I plan on buying in oh, say about 5 years (The Evergreen Omega Mutual fund is for this purpose as well).
Option 3: Take the $1600 and also take out $1400 of my ING account and open up a taxable account at Vanguard (min. for Vanguard is $3,000 with the exception of the STAR fund which is $1k).
Which option would you lean towards and why? I'm very finicky with my money and like to see it go to good use. I'm trying to retire early and enjoy life to the fullest. I appreciate the help. Right now I'm leaning towards option #3. Thanks again! -Anthony