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Learning, Sharing, and Teaching => Case Studies => Topic started by: jcassidy10 on January 29, 2018, 08:29:32 PM

Title: Case study: Just starting, got some interesting options
Post by: jcassidy10 on January 29, 2018, 08:29:32 PM

I've squandered my money for 5 years now, but a summer-long sabbatical, autumn-long regroup, and finally a steady job have me excited to save, save, save, then sabbatical again for the rest of my life.

Life Situation: Single, 26, North Carolina

Gross Salary/Wages: $43,515 salary

403b with no match: $210 (just started)
401k from previous employer: $3500
After tax thrift plan, which matches 25% of my first 6%
Employer contribution, zero employee contribution required, three-year vesting period: 7% base salary

Other Ordinary Income: $5000 freelance

Qualified Dividends & Long Term Capital Gains: N/A

Rental Income, Actual Expenses, and Depreciation: $1500/month total. This is everything.

Adjusted Gross Income: $8500 pre-tax investment, $17,082 after expenses take-home


How should I best maximize these retirement accounts and my surplus money? I can't find much information on this kind of thrift plan offering, though I think I could roll it into a Roth IRA should I ever leave the company. I would love some advice.

Title: Re: Case study: Just starting, got some interesting options
Post by: nurseart on February 02, 2018, 01:17:13 PM

+1 for reviewing the investment order.

I'd suggest capitalizing on this excitement about FIRE by minimizing expenses and maximizing savings.

Lots of creative ideas on this forum plus basics on the website http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

You might also find this thread motivating https://forum.mrmoneymustache.com/share-your-badassity/i-just-bought-2-days-per-year-of-free-life-indefinitely-363-to-go/