Hello there,
I am fairly new to Investing and I after trying to save up for years, I started investing 3 months ago.
Here is the big picture, and I would love to hear any advice from you seasoned MMMers :)
I graduated 1.5 year ago (January 2012) with a marketing degree. College was in NYC, my parents live in Canada.
I worked in NYC from December 2012 to July 2013, making net $2000/month. With expenses and rent sky high, I managed to save up $1200 in total (after splurging on a much needed mcbook - i do graphics)
From that amount, I opened a Betterment.com account starting with $500 (+$25 sign up bonus) and I add $100 monthly.
I now have:
Betterment: Allocation: 51% stocks 48% bonds
$735 invested amount
$15.91 earned (or 2.2% avg interested since July)
US account:
$500 waiting to be deposited monthly. ($100/month)
I have now moved back to Canada with my parents and I am looking for a stable job. I now have an in-between job which pays a bit over $1500/month.
($13.1/hr after taxes, usually 32hrs/week although there is many half days/off times when we aren't paid)
I do not have any expenses here besides a $45 phone bill, about $40-50 in gas and $150 misc.
I went to my bank TD and decided to allocate my money to mutual funds to get it working for me while I do not need it .
Allocation 50/50 bonds/stocks
TD Comfort Balanced portfolio Putting in $250 weekly until beginning of January.
Gross amount Net amount Unit Price Trans. Units
PPP Purchase $250.00 $250.00 $14.0500 17.794
TD Monthly income Putting in $100 bi-weekly indefinitely.
Gross amount Net amount Unit Price Trans. Units
PPP Purchase $100.00 $100.00 $17.6300 5.672
Am I putting in too much? Should I keep a sure safety net not in investments? (There are fees for taking out money before a 30 days notice in TD) Any recommendation about these accounts?
I also have loans to repay which I am doing a great job at ignoring...
Loans:
$28,000. I do not have to repay them until I get a proper stable job. (Interest rates are astronomical too. I do not have the exact number)
What should be my game plan? With and without the loans?
Any investing recommendations for a starter?
I am also planning to move countries in February and I cannot be sure of the pay (I will have an internship, with paid rent and transportation)... so I need a short-term and long-term plan (in case I do not leave in February).
Thanks!!