Hello all,
I am very new to the investing and frugality world. I am curious about my current investments and hoping y'all could clarify somethings for me. I am 23yo with zero debt! Here is my current layout
Maxed my 457b
Maxed my Roth
Throwing my leftover money into VTSAX (roughly 18k)
I just learned about the HSA and am still looking into that. I am just wondering if I should be dumping so much money into the taxable "non-retirement" account at Vanguard.
G-man, welcome to the forum.
Need more info from you.
See How To: Write a "Case Study" Topic and post your case study in that board. Good luck!
Thank you, I am very excited to be apart of the FI lifestyle.
Topic Title: Current investment order
Life Situation: 23yo living in the PNW with zero dependents
Gross Salary/Wages: 85k
Individual amounts of each Pre-tax deductions 457b – Maxed out, Roth IRA – Maxed out (vtsax) HSA – Looking into
Currently living with a buddy, $400 a month in rent with no current plans of buying a house.
Taxes AND Dues: $1,400 a month in Fed W/H, L&I, Union Dues, LEOFF-2
Current expenses: I live a semi boring/frugal life
$400 Rent
$200 Food
$120 Gas
$65 Phone
$40 Internet (just cut cable, reduced $120 a month)
$25 Gym
Expected ER expenses: I do travel a lot (Currently looking in ChooseFI travel rewards) so I set aside $450 every other month for airfare/travel expenses.
Assets: Only real asset I have is my $500 Toyota Camry, no share in the house I’m renting in. Do not carry more than 3-5k in my account at any time. (Roth would be my emergency fund)
Liabilities: I have none!
Specific Question(s):
I am very new to the investing and frugality world. I am curious about my current investments and hoping y'all could clarify somethings for me. I am 23yo with zero debt! Here is my current layout
Maxed my 457b
Maxed my Roth
Throwing my leftover money into VTSAX (roughly 18-20k a year)
I just learned about the HSA and am still looking into that. I am just wondering if I should be dumping so much money into the taxable "non-retirement" account at Vanguard. I am not in dire need of any purchases, so I am not worried about the lesser amount of cash on hand.
I guess my concern is this a “tax efficient” strategy? I am very much still trying to understand the world of taxes.