|
$$$??? This poll is closed. |
|||
|---|---|---|---|
| Buy ten UHD QLED curved TVs |
|
2 | 13.33% |
| Put it in savings |
|
2 | 13.33% |
| 420 smuk weed all day |
|
5 | 33.33% |
| Goku |
|
6 | 40.00% |
| Total: | 15 votes | ||
|
I got my first real job a few months ago and I have saved up about $10k. What the gently caress should I do with it? My first thought was "buy ten TVs" but I squashed that quick. I have a credit union account with a decent interest rate. Should I just let it sit and collect interest? 10k represents a lot to me personally and probably not a lot in real world value. I'm still trying to wrap my head around the fact that it hasn't all fallen out of my pockets yet. DISCO KING fucked around with this message at 03:34 on Aug 18, 2018 |
#
?
Aug 18, 2018 03:31
|
|
|
|
| # ? May 9, 2024 18:16 |
|
|
10K is a pretty small emergency fund. You may just want to have it read in case of emergency unless you're young enough that your parents pay for healthcare and insurance. That said, you got a job that matches 401k contribs? If so are you maxing it out? If its a little money job (low enough to qualify) get a Roth IRA. You can do this by googling "set up roth IRA" Other relevant questions: Do you have any debt? How old are you?
|
|
#
?
Aug 18, 2018 04:02
|
|
|
Early 20's, no debt, high pay hourly job, no benefits, still on my parent's federal agency healthcare (gently caress yeah). I've heard of a 401k and I know it's a (good?) pit that swallows money until you're old or something. No permanent housing, no big ticket personal items, except the one I'm posting with. I could buy ten of those? I'm totally grasping at straws here. Maybe I should expand the question: To someone with a bit more life experience, when you think $10k, what does that mean to you?
|
|
#
?
Aug 18, 2018 05:07
|
|
|
6 months of emergency fund. 5500 in Roth IRA. The rest... Have fun with it.
|
|
#
?
Aug 18, 2018 09:52
|
|
|
DISCO KING posted:Early 20's, no debt, high pay hourly job, no benefits, still on my parent's federal agency healthcare (gently caress yeah). I've heard of a 401k and I know it's a (good?) pit that swallows money until you're old or something. No permanent housing, no big ticket personal items, except the one I'm posting with. I could buy ten of those? I'm totally grasping at straws here. A Roth IRA is a save for retirement account like a 401k but the money is post-income tax..i.e. right out of your bank account. When you don't make much money this is good because when you take it out later, you don't have to pay income taxes on it and it is very likely that DISCO KING age 65 is in a much higher tax bracket than DISCO KING's $20?/hr job. I'm with the above poster, figure out what you need to live off of for 6 months, put the rest in a Roth IRA. Youtube "401k vs Roth IRA", then google "how to set up a Roth IRA" setting one up is pretty easy and can be done online. The earlier you put even a little money in it, the more time interest has to compound. An erta year of compounding one something thats been compounding for 40 years is a very good chunk of money, usually.
|
|
#
?
Aug 18, 2018 13:46
|
|
|
Ale and whores. After establishing a six month emergency fund and maxing your Roth IRA, preferably in a Vanguard Target Retirement Fund, of course
|
|
#
?
Aug 18, 2018 17:01
|
|
|
Be smart 5500 Roth IRA at vanguard.com 3500 bank account savings for the ~future~ 1000 I wish I had done this when I was 18 (2002). My Roth would have grown to 22,000 by now from just that contribution!
|
|
#
?
Aug 18, 2018 21:10
|
|
|
I wish I had money... 
|
|
#
?
Aug 19, 2018 01:11
|
|
|
DISCO KING posted:Maybe I should expand the question:
|
|
#
?
Aug 19, 2018 01:24
|
|
|
inkajoo posted:I wish I had money... Don't spend any!
|
|
#
?
Aug 19, 2018 07:10
|
|
|
DISCO KING posted:Don't spend any! You don't really have any money though, you are just a bit less behind on creating your emergency fund than most people.
|
|
#
?
Aug 19, 2018 07:17
|
|
|
CarForumPoster posted:A Roth IRA This Roth IRA thing seems important and I'm checking it out. Do I get to take the money out whenever or only when I'm decrepit? It's also more like $45/hr with super spotty hours. When it rains it pours. A good emergency fund might be a good idea. I really want my next job to be more regular, even if it pays less.
|
|
#
?
Aug 19, 2018 07:28
|
|
|
You seem like a chump so I'm going to say bitcoin.
|
|
#
?
Aug 19, 2018 09:13
|
|
|
According to every loving 20 something I know you're allowed to cash in your retirement account whenever you see a sweet deal on some new skis or you just really want to see Australia, there are exceptions for that.
|
|
#
?
Aug 19, 2018 12:37
|
|
|
DISCO KING posted:This Roth IRA thing seems important and I'm checking it out. Do I get to take the money out whenever or only when I'm decrepit? There are laws around taking money out early, I’m sure there’s a lot of YouTubes on this that can explain them better than I. I don’t know much about Roth IRAs as I use a 401k because my employer makes it easy and I’m high enough tax bracket wise that pre tax deductions are a good deal.
|
|
#
?
Aug 19, 2018 13:00
|
|
|
Grem posted:You seem like a chump so I'm going to say bitcoin. Can I bet on your gravestone coming up before that pays off?
|
|
#
?
Aug 19, 2018 17:07
|
|
|
DISCO KING posted:This Roth IRA thing seems important and I'm checking it out. Do I get to take the money out whenever or only when I'm decrepit?
|
|
#
?
Aug 19, 2018 20:03
|
|
|
|
| # ? May 9, 2024 18:16 |
|
|
moana posted:I should lie to you so you don't take out contributions but you can take out contributions easily, just not gains. Don't take out contributions, though, or you'll miss the benefits of compounding. Don't do it. You can, but don't. ok. i won't. i promise. Thanks for all the help. You're all main goons to me.
|
|
#
?
Aug 19, 2018 20:14
|
|