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You're in a good place here. Your expenses are extremely low, and your income is good enough. Where you go from here depends on what you want, really. The first thing I'd consider is a budget. You have to ask yourself if your expenses have been low because you had no money, or if your expenses are low because you don't really want to buy anything. If you think you can avoid lifestyle creep without a budget (you have cheap/free hobbies, don't go out much, and don't see that changing), you might be able to do without. But be careful with that approach, plenty of people have gone that way and found themselves spending more as their income goes up. If you need help with a budget, feel free to ask here, or there's a budget thread in BFC also. Next, your emergency fund. You had a good intuition to do this, so good on you. You should be able to finish that off in a few months (if not, maybe reconsider having a budget). After you're done with that, I'd still contribute some smaller amount (say, $100/mo or so) to deal with inflation of expenses and such. Even if you're the cheapest person on the planet, $600/mo isn't going to cover your expenses forever. After that, it's time to think about retirement. A great place to start is "If You Can" which was linked in that long term thread posted earlier. Here's a direct link to the PDF: https://www.etf.com/docs/IfYouCan.pdf . It's short, and gives a good overview of some set it and forget it retirement strategies. If you find yourself interested in learning more, there are also some really good books linked there. After that, you're in a good place, and you'll also probably know more about where you want to go next. A house fund would happen here (don't stop contributing to retirement!), or whatever priorities your life brings you. Good luck! Sounds like you have a decent head on your shoulders. The easier/more automatic you can make doing the right thing, the more likely it is going to happen. EDIT: oops, didn't realize this thread hadn't been posted in in 2 weeks.. Grumpwagon fucked around with this message at 13:42 on Aug 26, 2017 |
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Aug 26, 2017 13:40
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| # ¿ May 21, 2024 11:57 |
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