Advice for New Mustachian

[Joocebawks808]

Hello,

Quick background: I'm 29 years old, public school teacher, $76k gross salary, single, no kids, no debt.

Currently, I'm maxing my contributions to my Roth IRA which is entirely VTSAX. Is this a good idea? Originally I had a target date fund. If not, what should I do? I'm also contributing 8% to a pension plan. This is mandatory.

Additionally, I'm saving $2k per month and putting it towards a down payment for a house. I'm at $44k, aiming for $50.

When I have the house money saved, I'm going to have that $2k per month to invest and need some guidance. I could do a 403b but I've heard mixed reviews about my options going that route.

What would you do if you were in my shoes?

Thanks!

*Update*

Here is a list of all of the 403b providers that I can choose from in my state.

https://www.nbsbenefits.com/HawaiiDOE/providers.php

Many of my coworkers went through AXA, but they told me to stay away. It also appears that very few of these companies offer mutual funds. Do any of these financial institutions look like a good idea?

[RWD]

Welcome, sounds like you're on the right track. Here is some reading material if you haven't come across it already:
https://jlcollinsnh.com/stock-series/
https://www.madfientist.com/retire-even-earlier/
Investment Order

The 403b is definitely worth exploring at least. You'll want to know what funds are available and their expense ratios and any plan administration fees. If there is a match then you should at least contribute enough to take full advantage of that.

Once you have filled your tax advantaged buckets (or at least as much as makes sense, depending on funds/fees) you can open a brokerage account and invest there.

[Joocebawks808]

Welcome, sounds like you're on the right track. Here is some reading material if you haven't come across it already:
https://jlcollinsnh.com/stock-series/
https://www.madfientist.com/retire-even-earlier/
Investment Order

The 403b is definitely worth exploring at least. You'll want to know what funds are available and their expense ratios and any plan administration fees. If there is a match then you should at least contribute enough to take full advantage of that.

Once you have filled your tax advantaged buckets (or at least as much as makes sense, depending on funds/fees) you can open a brokerage account and invest there.

Thanks for the links! Got some reading to do :)

[nereo]

RWD hit the major background readings...

I'll add that at your salary and single-filing status you'd probably be better served investing in a traditional IRA instead of a Roth.
VTSAX is a fine choice for your age, but asset allocation (AA) is a personal decision each person needs to make.

The amount that you need for a downpayment directly corresponds to the purchase price.  What do homes cost in your area?  Typically you want enough to avoid PMI (generally 20%), but beyond that you are better off putting your excess money into your tax-advantaged accounts (e.g. your 403(b) - see Investment Order).

What are your goals? The broad advice here is to sock away as much as humanly possible while you are young so that you maximize your options down the road and become Financially Independent quickly, but do you have other things you want to save for or do?