Finally paid off all CCs and my one vehicle and want to really make a good start toward FI out of the gate, retiring ASAP. I was so close to paying off my motorcycle that I (probably unwisely) just drained my emergency fund to do so. At least I can start building back up now.
Reading through some old posts, MMM suggests"just pay off all your debts, than start throwing it all into the Vanguard index fund." Once I get the minimum $3,000 to invest in VFINX, I plan to do so. I contribute to my 401k up to my employer's match of 4% (aggressively allocated). I need to save an emergency fund and would like some cash to leverage on a vehicle for when I sell my paid-off motorcycle. One thing to take into account is that I do not own a home, I rent, so I consider this a necessary future debt that I'd like to save up a down payment for. I am eligible for a VA loan, so I don't think the down payment is even necessary, not sure but I should look into that... I won't be buying a home for at least 5 years due to needing to move around (professional and personal life reasons), so I have time to save with a relatively good income.
What % of your savings would you put where? How should I disperse my savings for my future long- and short-term savings goals? Should I max my 401k? If so, before or after I have one or all of these short-term goals met?
I'm currently 32, have $7700 in my 401k and only a motorcycle as my primary asset (year-round driving here, but will sell and purchase a car due to moving to a less hospitable climate). If you need specific numbers, I can list them out, but just some general guidance would be much appreciated. Thanks!