Hi all, long time reader first time poster.
Bio
Single guy in 31 living in large american city. Work 2 miles from work.
Income:
85k gross
net paycheck: 2,081
net monthly: 4,508
Current Expenses:
1. Rent & Utilities: $650
2. Gym membership: $65
3. Taxi / Uber: $50-$250 (I know this is very bad, currently focusing on keeping it sub $100)
4. Public Transport: $25-$75, depending on #3
5. Food & Alcohol: $700 [guessing $250 is alcohol]
6. Travel: $100-$200
7. Entertainment:$100
8. Health Related: $100
9. Shopping: $100
Total: $1,790-$2,240
Cell phone bill paid by work @ $70 / month
After Tax Savings Rate: $2,500 / month or 55%
Pre Tax contribute 4% to 401k at work to get full match: ~280 / month
Assets
IRA: $45.7K
$32k in 2 stocks, one large cap and 1 small cap (don't want to say which ones since the small cap is small enough to identify me to my friends), but I know it's bad.
$6k in SPY
$7.7k in cash
Post Tax Stock Account:$37k
$30k in individual stocks, mostly large caps
$6.5k in SPY
Online savings account: $67k
Checking Account: $5k
Work 401k: $4-5k, just started working their this year never check it. 90% in SPY
Debt
None, pay off CC monthly
Net Worth: $109k after tax , 50k pre tax, ~160k combined
Thinking of opening up betterment/vanguard and start putting money into SPY consistently, but terrified that market is inflated, but I thought that in 2012 as well :/.
Questions
1. Comments on expenses (my low rent my end shoot up to $1500)
a. also expenses have been lower as I haven't been dating, they shoot up 300/month when I do
2. Trying to get comfortable with my investment strategy, looks like I missed out on a bunch of gains, but 2009 hurt me even though I didn't sell out.
3. Though it's semi easy to save, im scared that I will never retire because my investment suck and I can't see how i could ever generate even 4%
All of my friends spend like me and have 0% savings rate, so need someone to tell me I need to badassity up a bit more!
Lastly, would love to stop having to work at 36. Switch careers to something more rewarding but less lucrative.