I'm an aspiring mustachian looking for some advice on what to do with my savings and investments.
I am currently 23 years old making $47,000 a year. I am married but my wife is still in school so we are living off of just my income for the next year (Once she starts working we will have about $30,000 extra dollars per year to put towards retirement. We currently have about $35,000 in the bank (savings and checking accounts), $5,000 in my work 401k and I just opened a Betterment account with $1,000 that I pulled from my savings. We have no debt, other than a mortgage, so anything we have left over each month can go into savings/retirement.
My work 401k matches 100% up to 6% so I have been contributing that for the past year but just upped my contributions to 10% today. I also feel that the amount I have in savings with my bank is far too much since I work for my dad's company which gives me pretty solid job security.
Anyways, I am contemplating dropping my emergency savings by about 10-12k and using that money to put into either my Betterment account or starting to max out a Roth IRA every year. Is that where I should be putting that money or would that be a mistake? Should I instead be putting more money into my work 401k?
I just wanted to make sure I was doing the right thing and that I am not missing something important. If anyone has any advice for me please let me know.
Thanks
Logan