Hi Bogleheads,
I have just finished reading the Bogleheads Guide to Investing, and I understand the main gist now. My plan is to go up to employ match for my 401k, and max out Roth IRA. I will do Vanguard target retirement fund 100% for 401k, and haven't decided for Roth yet. However, I do have a hefty amount of student debt (~100k in Parent Plus with 7-8% interest rate). I am already paying alot of it (half of my pay-check which is around ~2.6k) every month.
Therefore, I think I will be good for loans after 2-3 years of continuous payment, and rest will be dealt with help of my parents.
My question/concern is, I still have around 1k left a month spend on many things (after maxing out Roth), and I was thinking whether I should put all that money in paying of student loans first so that It can be quicker, or invest in a different things such as: maxing out remainder of 401k or ETF/Mutual funds. I already have emergency fund (~10k) saved up. I also live in my parents' house, so not much fixed cost per month. Right now, I spend about 500 dollars a month on food, hanging out, etc. So realistically, I have 500 dollars left to use on anything.
Any ideas or advice will be very thankful![:)]( "Smile")
I have just finished reading the Bogleheads Guide to Investing, and I understand the main gist now. My plan is to go up to employ match for my 401k, and max out Roth IRA. I will do Vanguard target retirement fund 100% for 401k, and haven't decided for Roth yet. However, I do have a hefty amount of student debt (~100k in Parent Plus with 7-8% interest rate). I am already paying alot of it (half of my pay-check which is around ~2.6k) every month.
Therefore, I think I will be good for loans after 2-3 years of continuous payment, and rest will be dealt with help of my parents.
My question/concern is, I still have around 1k left a month spend on many things (after maxing out Roth), and I was thinking whether I should put all that money in paying of student loans first so that It can be quicker, or invest in a different things such as: maxing out remainder of 401k or ETF/Mutual funds. I already have emergency fund (~10k) saved up. I also live in my parents' house, so not much fixed cost per month. Right now, I spend about 500 dollars a month on food, hanging out, etc. So realistically, I have 500 dollars left to use on anything.
Any ideas or advice will be very thankful
Statistics: Posted by john9970 — Mon Nov 18, 2024 8:09 pm — Replies 9 — Views 504