In the interest of being as simple as possible, it sounds like my priorities fall in this order:
- Maintain my 403(b) contribution up to my employer's match
- Save for a home downpayment of 20% in an online savings account, for the security of liquid funds and the highest possible interest rate for that security (Capital One 360, 0.75% variable APY)
- That will be all my spare income for a few years, and then once I've saved the 20%:
- Begin investing in a Roth IRA
- Max my 403(b) contributions
- Invest any extra income in Vanguard index funds
Since my income isn't high enough to do all those things yet, it *sounds* like I need to prioritize saving for that 20% home downpayment over additional 403(b) contributions, starting a Roth IRA, or beginning investment in index funds. I know my money would do more for me in those places, but if I don't have the downpayment yet...