The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: logangmarshall on September 23, 2017, 10:50:58 AM
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Hi everyone! I've been peripherally aware of FI for a year or so now, but only recently made it a focus and priority. I've been reading articles and listening to podcasts like a madman, but feel overwhelmed and unsure how to proceed. So I thought I'd post here and see what ya'll think...
My situation:
- 24 years old.
- No debt.
- $16,067 current net worth, most of it invested with Wealthfront.
- No degree. Finished 1.5 years of school at two separate colleges, then dropped out to travel because I didn't know what I wanted to do (still don't) and didn't want to go into debt.
- Earn ~$4k/month as a server at a high-end restaurant and a part-time farm worker (the farm job pays almost nothing and is something I do mostly for fun).
- Spend ~$1k/month allowing me to save ~$3k/monthy (75% saving rate).
Basically, here's what I'm trying to figure out:
1. How should I be investing this money given the fact that I don't have access to a 401k or an HSA eligible insurance plan? I maxed my Roth IRA for the year and have simply been putting the rest in a 'personal'/taxable account with Wealthfront. What else can I be doing to optimize?
2. How should I approach my career situation? I feel torn because I'm making decent money (for my standards) and saving a high-percentage of my income but, of course, I'm working low-skill jobs with little future. I can't say there is ANY career that I feel particularly motivated to pursue, and don't want to go into debt and dramatically postpose FI by going back to school, but I'm considering all options. What would you do?
Totally appreciate any thoughts and feedback. Thank you!