Greetings all,
I've been accused of displaying somewhat obsessive-compulsive attributes at times. So, for those who know me personally, it wouldn't be surprising to learn that I found Mr. Money Mustache's blog and read through all 40 pages of the archives in a single night. Needless to say, I thoroughly enjoyed the philosophy behind the blog as well as the storytelling within the blog.
Here's my current financial status, before I go into some background:
Age: 24
Job: Major Gifts Officer (Non-Profit)
Salary: $46,500/year
Debt: None
Vehicle: Gas-guzzling truck
Investments: $48,700 spread across index mutual funds (using a Bogleheadian approach)
Savings: $10,000 emergency fund
Current Savings Rate: 40%
I'm getting married in July. The good news is, she doesn't have any debt (although she doesn't have any savings either). But, I'm trying to decide what the "next steps" are for me financially, especially as I enter this new phase of my life (increased budget, somewhat increased earnings, etc.).
Right now, my plan is to sell the truck after we get married (she drives a Civic) to free up some money. Also, I'm hoping to either switch jobs or get a raise in the near future as my performance has been good.
With a decent amount in savings/my investment accounts, I've been advised by a few of my mentors to consider buying a house. I'm fascinated by real estate investing, but I'm also very wary of throwing my money at the altar of "equity" and becoming very cash poor very quickly.
Anyway, I would love some advice on if you all think I should just stay the course where I'm at or consider pivoting toward a different route.
Thanks for your time. I'm looking forward to becoming a part of this online community.