Hi All,
In 2019 I was 21 and posted on here, fresh out of college with about $70K of student debt. Since then, I've managed to pay off my student debts and take a job that pays less but is more fulfilling and has better work-life balance. ($80K+10K bonus down to $70K/year). I'm hoping for a gut-check on my saving and investing strategy.
Life Situation: Single, 24F, Oakland CA, working remotely. Leaving soon to "digital nomad" around the world while I work, and test out what it might be like to travel if I did FIRE.
Gross Salary/Wages: $70,000
401k: Maxed at $19,500 with 4% employee match
Roth IRA: Maxed at $6,000
Health Insurance: On parents insurance
Adjusted Gross Income: $55,000/year, $4,583/month
Taxes: Federal: $5,500
FICA: $5,300
State: $2,500
Current monthly expenses: Rent: $920/month
Groceries: $120/month
Eating Out: $120/month (I'm aware this is egregious)
Personal Care: $80/month (clothes, shoes, hygiene products, haircut, etc.)
Public Transit: $40/month
Going Out/Drinks: $40/month
Hobbies/Outdoor Activities: $30/month
Misc.: $130/month (Charity, Gifts, Household, Ubers, Medicine, Laundry, etc.)
Savings: Roth IRA: $500/month
401K: $1,625/month
Savings: $300/month
General Investing: $50/month
Excess: ~$600/month
Assets: Amount & description - include current asset allocation plan if you have one
Net Worth: $76,000Roth IRA (Betterment Core): $18,000
401k: $18,600
Trad IRA: $8,800 (rolled over from prior employer into Vanguard 2065 Retirement Fund)
Taxable Investment (Betterment SRI): $5,500
Taxable Investment (Folio, Azzad Ethical Fund): $7,200 - this was opened by my dad when I was a child
Savings (Betterment): $12,000
Checking: $6,500
Liabilities: None
Specific Question(s): Should I adjust the allocations of my investments? Should I move things from betterment to vanguard (this would result in tax implications, right?) What should I do with extra funds? Should I open another taxable retirement account in vanguard? Does my asset allocation and 401K allocation look okay (See below) ? General advice welcomed.
Overall Allocations
U.S. Stocks: 63%
Int. Stocks: 26.5%
U.S. Bonds: 4%
Int. Bonds: 1.75%
Retirement BreakdownVFTAX 60%
Vanguard FTSE Social Index Fund Admiral
VIMAX 10%
Vanguard Mid-Cap Index Fund Admiral Shares
VSMAX 10%
Vanguard Small-Cap Index Fund Admiral Shares
VTIAX 10%
Vanguard Total International Stock Index Fund Admiral Shares
VBILX 7%
Vanguard Intermediate-Term Bond Index Fund Admiral Shares
VGSLX 1%
Vanguard REIT Index Fund Admiral Shares
JESRX 2%
John Hancock Funds Multimanager 2060 Lifetime Portfolio Class R6
My 2019 case study, in case you are curious: https://forum.mrmoneymustache.com/case-studies/case-study-21-yo-f-with-eternal-student-loans/msg2462660/#msg2462660