Life Situation:
IRS Filling SINGLE, 0 Dependants.
Loaction: Florida - no state tax.
Gross Salary/Wages:
63,500.00 Annual (2645.83 gross bimonthly)
1762.00 After deductions bimonthly
Pre-tax Amounts:
Medical EE 32.50
Retirement EE 264.59
Taxes:
OASDI 162.03
Medicare 37.90
Federal Witholding 385.67
Current expenses:
Mortgage 184000 Financed for 30 years at 3.75% - Purchased home for 230,000 and put 20% down in October 2016.
$853 Total
(282 Principal + 570 Interest at moment)
$500 Tax + Insurance on Mortgage (1353 total monthly housing payment)
Electricity: $120 monthly avg
Utilities: $100 monthly avg
Home repairs/furnature: $125
Netflix: $9 monthly
Phone: $50 monthly
Auto Gas: $140 monthly
Auto Insurance: $90 per month
Food: $250 per month on groceries
Other: $150 (includes going out, and eating out- which I do quite often)
**Credit Cards: all food and gas paid on credit cards that are paid off at end of month. No revolving credit balance
Assets:
Car: Ford Ranger 2.3L Manual averaging roughly 25-27MPG. Commute is 35 miles away (45min - hour long) Paid off
House?
Investments
Employer 401k, I put 10% of paycheck in ($264.59) Employer match has dropped from 8% to 4% ($105.84) Monthly
Tia Cref 2050 Lifestyle Fund Total Current Amount:
$82,124.01
Schwab Investments
$250 per paycheck, $500 monthly contribution to Schwab account
Standard Contributory IRA
$3000 Invested in VOO (Vanguard SP500 ETF)
$2950 invested in VTSMX (Total Stock)
$5950 TOTAL Invested here
Roth IRA
$1550 Invested in VTI (Vanguard total)
$1000 Invested in GTLOX (Glenmede Large Cap)
$1600 Invested in SWANX (Schwab Core Equity Fund)
Personal
$7300 Invested in VTSMX (Total stock)
TOTAL
$22000 roughly invested throughout all
Cash
$26000 sitting in Bank of America Account (no interest)
Questions
I am truly looking for helpful advice on how to better manage my money. I am 31 years old, and I have been invested for quite awhile, but the new house purchase cashed most of that out (46k down). I consider myself decent at saving money, however I do tend to go out to grab beers with my buddies and dinner out with my girlfriend after work instead of staying in.
I am looking for better usage of investments, and my cash. I dont know of many interest saving/checking accounts, and am notoriously bad at picking and choosing funds to invest in. I have taking a few losses on sing stocks in the past that I have regained. My risk tolerance I would say is a little more than moderate. Reading the MMM Blog I found that VTSMX fund that I put invested a lot into. Looking through this, I am just trying to get help from you all. My goal would be to invest well enough, and hopefully retire early. Sooner the better lol.
