Author Topic: I have low-income - Where do I put it?  (Read 11207 times)

Anti-ComplainyPants

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I have low-income - Where do I put it?
« on: October 15, 2013, 01:17:16 PM »
Man, I feel out of place here with a measly income of $32.5k... but I'm 26, so maybe someday that'll rise.

I have some student loans, but hopefully I'll be able to have those forgiven by the government for my line of work within the next year (mental health). For the sake of argument, let's assume that's happening.

With my low income, it is not possible for me to max out my 403(b) contributions and survive. I contribute 15% (with 5% employer match) and now I'm wondering what to do next. I rent a home, and hope to buy my own in 3-4 years. Everything I read on MMM pushes to INVEST, but I'm worries I'm not even there yet.

If I want to retire early, I can't put all my money in an account where I'm penalized for withdrawing before age 59.5 (403(b)). So should I lower my contribution and place some money elsewhere? If so, try to save as much as possible for a home down-payment in the future? Invest in an index fund? Both?

Thanks for any insight!

Paul der Krake

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Re: I have low-income - Where do I put it?
« Reply #1 on: October 15, 2013, 01:34:06 PM »
If you're going to buy a house in the next few years, do ensure that you save enough for a downpayment- it is usually recommended to have 20% of the home value in order to avoid PMI.

What are your expenses?

Anti-ComplainyPants

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Re: I have low-income - Where do I put it?
« Reply #2 on: October 23, 2013, 11:37:09 AM »
I feel I've done a decent job and cutting down my expenses - Slashed by electric bill following MMM's advise, cut my gas bill by turning my hot water heater to Low while I'm asleep or at work, called my car insurance and got that lowered, gas/cable down to $50/month (which is also the cheapest I can get cable only), grocery shop at the dollar store before I go to Walmart... my biggest regret is signing a $65/month cell phone contract in June. The second I can, I'm getting out of that for the $19/month plan featured in MMM's blog.

So to specifically answer your question:

$450 rent (my half)
$25 cable (again, my half, and let's just assume that for the next utilities)
$~40-50 Electric (I live in Mississippi, this is keeping the summer A/C at 82)
$20 Water
$10 Gas bill
$60 driving gas (sold my truck for an 04 Dodge Neon, win!)
$80 car and renter's insurance
$65 cell phone (*cringe*)
$100 groceries
$5 Netflix (my half)
$16 monthly haircut
$165 Parent Plus student loans that do not qualify for forgiveness mentioned on original post (Side note: this is technically in my father's name, although i'm ethically responsible for it. Also he's a bit older, and I'll probably spend the least making the minimal monthly payment knowing that the balance will be erased when he passes away, instead of coming up with $45k)

Right now my thoughts are to continue 5% retirement contribution (with 5% match) into my 403(b) and put 10% in a savings account for emergency money and building toward a 20% house downpayment about 3 years from now. I can live on the biweekly ~$800 that leaves me, but can I invest that savings somewhere other than a savings account where I can access it without penalty in such a short period of time?

Thanks for the guidance!

Watchmaker

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Re: I have low-income - Where do I put it?
« Reply #3 on: October 23, 2013, 11:56:05 AM »
There are ways of getting money out of a 401(k) earlier that avoid the 10% penalty (look up roth pipeline and 72(t)).  I believe these are both also applicable to 403(b) plans.  If they are, the 403(b) may be a better place than an taxable account for your savings.

You likely have a fairly low tax rate right now.  It might be a good time to be putting money into a roth IRA, which will allow early withdrawl of the principle without penalty, and eventually, withdrawal of everything without further taxes (roth contributions are after tax).

dorkus619

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Re: I have low-income - Where do I put it?
« Reply #4 on: October 23, 2013, 01:09:41 PM »
The second I can, I'm getting out of that for the $19/month plan featured in MMM's blog.
Off topic: Go to the tech superguide by I.P. Daley or talk to him. He will talk you out of this decision. Start analyzing how much you actually use your phone. Minutes, Data, Texts. (Remember to include nights and weekends, plus "free" mob-mob communication in your #s) Track it for a while, see if you can reduce it without feeling deprived. There is a whole WORLD of options based on your needs! I went with Ting, my bill will be $23+

$16 monthly haircut
DIY! MMM wrote an article about this :)

Right now my thoughts are to continue 5% retirement contribution (with 5% match) into my 403(b) and put 10% in a savings account for emergency money and building toward a 20% house downpayment about 3 years from now. I can live on the biweekly ~$800 that leaves me, but can I invest that savings somewhere other than a savings account where I can access it without penalty in such a short period of time?
Taxable investment account? Roth IRA (I believe you can withdraw on the principal penalty free)? Other retirement accounts (I believe you can withdraw for a 1st home downpayment penalty free)?

Good luck keep it up!

Edit: If anyone could help me, I have a request for advice here: http://www.mrmoneymustache.com/forum/investor-alley/newbie's-allocations-advice-please-)/    thank youuuu.

nawhite

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Re: I have low-income - Where do I put it?
« Reply #5 on: October 23, 2013, 02:33:34 PM »
You seem like an excellent example of a Roth IRA being a great idea. You're young so you have a long time for gains to accrue and you have a low income and thus are in a low tax bracket. I'd recommend the classic example of "where to put it" of:

1. 403b up to the amount required to maximize your employer match
2. Roth IRA up to the max ($5500/year)
3. other (probably finish out the 403b or put it into an account for a downpayment)

Some other things to keep in mind. With a 401k (not sure about 403b) you can make a withdrawal for the down payment for a first time home purchase (some people would call this "raiding" your 403b). I'm unsure of the tax penalties in this case, so be sure to do your research. You also can take out the contributions to the Roth tax and penalty free but you lose the chance for that money to grow for the rest of your life tax free.

Anti-ComplainyPants

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Re: I have low-income - Where do I put it?
« Reply #6 on: October 23, 2013, 02:59:27 PM »
Thanks so much for the feedback!

If withdrawing from my 403(b) incurs a penalty (which I think it would and will research further) I'd obviously like to avoid that. So it seems that the Roth IRA would be the best bet to save month for a first home down payment: It will have some of the best opportunities for growth, I'll be paying tax on it now while I'm in a low tax bracket (hopefully I'll be making more in 3-4 years, so may as well pay the tax on it now), and I should be able to access it penalty free when that time comes.

Since I make so little I'm pretty sure I'll fall short of the $5,500/year limit. This is, of course, separate from the 403(b) contribution I'll maintain up to the employer match.

Any other advice? How does this plan sound to the rest of us in our little boat?

nawhite

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Re: I have low-income - Where do I put it?
« Reply #7 on: October 23, 2013, 05:03:31 PM »
with the 401k you can make a withdrawal "penalty free" for a first time home purchase but I'm not sure about taxes and I'm not sure about 403b's so thats what you should double check. If at all possible it would be awesome if you didn't have to pull your contributions out of the Roth for the down payments but I guess that might be a better bet than keeping all of the money in a savings account or bond fund while you get together a down payment. There are a lot of threads on here about where to put that money that you should search for.

Stache In Training

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Re: I have low-income - Where do I put it?
« Reply #8 on: October 23, 2013, 10:43:49 PM »
Surely you don't need cable AND netflix.  Ditch the cable.  Well I'd ditch both.  But I see you have "half" which means you'll have to convince your roommate.  But I would assume you could convince him/her that a digital antenna for news/live events, and netflix will more than cover your TV needs.

Also, yes, DIY your hair: http://www.mrmoneymustache.com/2011/05/30/get-rich-with-the-universal-mens-grooming-device/

I'm liking the roth ideas, or maybe just a regular taxable account, in order to stay more liquid and never have to worry about penalties.  Just taxes, but that only happens if you make money, so big worries there.

Putting 10% towards emergency fund is a good idea.  though I'd probably go with more, and once you reach your 3 or 6 month (whichever you feel comfortable with) expenses amount, then you no longer have to worry about saving, which will free up that 10% for investing in whatever ways you choose. 
Have you gone the online bank route yet?  Just another thought to try and help your grow your emergency fund a bit faster.  I use capital one 360, which has savings rates at .75%, which is much better than my local credit union of around .1%.  Here's my refer a friend link: https://r.capitalone360.com/fvMaBF6sbX  If you open with 250, you'll get 20 and I'll get 20.  However, don't feel like I'm pushing you towards my link, at all.  In fact if you go on the MMM blog, you'll probably be able to find a better sign-up deal.  I'd make sure you do at least some sign up deal, 1) for the free money, and 2) because .75% is a really good interest rate for today's world.

Good luck!  And don't worry, your income will get better, but either way, remember it's not how much you make, it's how much you save!

ichangedmyname

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Re: I have low-income - Where do I put it?
« Reply #9 on: October 24, 2013, 12:11:05 AM »
I wanted to wish you luck. You're earning 32.5k and you're only 26, you will be a badass soon! Good luck and congrats for making this decision!

Anti-ComplainyPants

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Re: I have low-income - Where do I put it?
« Reply #10 on: October 24, 2013, 01:24:28 PM »
Thanks for the feedback! (And encouragement, Hotforbacon, which is the best name ever)

The only reason I have Netflix AND cable is because my internet/cable package is the exact same price as internet-only. The second having cable started costing more than having only internet, I'd drop it.

MMM has made me super eager to invest, but with my limited income and plans to purchase a home in 4-5 years, my priorities seem to be this:

- Maintain 403(b) contributions up to employer match
- Save for a downpayment on a house, until I reach 20%
     - I guess in an online savings account? It has the highest interest rate that includes the security of knowing my money will be there when the time comes to actually hand over the downpayment 4-5 years from now.

I suppose I could invest that money into a Roth IRA or Vanguard index fund now and HOPE it'll be there when house-buying time comes, but i'm not sure that's a good idea. Even then, if the money were there, I'd have to pull it out for that downpayment. Which, of course, I could replenish afterward. If nothing else, saving for that downpayment would keep me away from PMI, and allow me a lower monthly mortgage payment (which in turn frees up more of my available income for investing throughout the life of the mortgage).

Watchmaker

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Re: I have low-income - Where do I put it?
« Reply #11 on: October 24, 2013, 01:27:13 PM »
Sounds like a solid plan.  And you are right to worry about investing the the money you plan on using for a downpayment in the market.

Anti-ComplainyPants

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Re: I have low-income - Where do I put it?
« Reply #12 on: October 24, 2013, 03:01:41 PM »
Thanks for the vote of confidence, Watchmaker! Let me see if I can get some feedback on this:

I heard a lot of support for both a Roth IRA in my situation, and also for the security of a savings account. My situation being - Saving money for a first home downpayment in 4-5 years, until I get the 20%. Should I put that money:

- In a Roth IRA, allowing it room for additional growth and withdrawing the principle for the downpayment when the time comes? Or:
- In an online savings account, which has a 0.75% variable APY but will be very easy to access in 4-5 years?

For background, it's very unlikely that I'll be quite able to set aside more than $5500/year, and I'm already contributing to my 403(b) up to my employer match

nawhite

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Re: I have low-income - Where do I put it?
« Reply #13 on: October 24, 2013, 04:53:38 PM »
I have all sorts of other ideas (because I'm not crazy about either of the options you picked out). In no particular order:

1. CD Ladder. You know you wont be taking this money out for 4-5 years. How about some Certificates of Deposit every 3 months to get a higher interest rate?
2. I-bonds. Guaranteed to match inflation and sometimes more (assuming the federal government doesn't default)
3. Invest in REITs. Think of the money as the "real estate" portion of your asset allocation. Theoretically, as houses go up in price, so should REITs. And vice versa. So likely looking at 6-8% average return where a crash would also likely correspond to a crash in housing prices (assuming you went with a SFH REIT and not a business REIT)
4. Use the Roth but invest in a conservative fund. Could go with an income fund (depending on how you feel about bonds) or even as conservative as a money market fund. You'll likely get similar performance here compared to an online savings account (though it isn't FDIC insured)
5. Use a local credit union. I bet you can beat 0.75% on a savings account at a local credit union. (Also Ally is offering 0.84% right now)

Personally I like option 3 but I'm not very risk averse. I'd need to do a lot more research on REIT's first though. I'd also look into a local credit union and check their CD rates.

Stache In Training

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Re: I have low-income - Where do I put it?
« Reply #14 on: October 24, 2013, 09:28:45 PM »
Nawhite's ideas are good, but somethings to look at/ research on each one.

1. CD ladder may be great for the situation, that you have a set time-frame for needing the money.  However, the last time I checked CD rates through mint.com, my local credit union, and my online bank, all were lower than the interest rate I was getting on my 360 savings account.  So no reason to lock up my money for less return.  If you can find a CD that is higher, great!
2. I don't know much about, other than it may take a bit slower to get your money, than in a bank account. Research it first.
3. REIT's are very tax in-efficient.  so to make it worthwhile, you'd want it in a tax-sheltered (retirement) account.
4. Yes, a Roth is a good idea, if you track exactly how much you're putting in.  However, even in a conservative fund, if the market tanks (and you don't know when that will be), you might be at less than you started.  If it was just for retirement, it wouldn't matter, because you would have time to ride it out.  But if you're using it as a need in 4-5 years, that would be difficult.  A money market would solve that problem, but I know vanguards prime money market account is returning less than my 360 account.
5. I haven't seen that to be true, but maybe in nawhite's area it is.  Also, I know people on here have used ally before, I just don't have any experience with them.

But yes, by all means shop around to see if you can get better cd rates, I just haven't seen any recently that beat an online bank savings account.  And I'm of the mindset that watchmaker said, and like I explained above in #4.  Since you have a set-time period, you may want to stick to something a bit more guaranteed, if it is truly a "must have."  But maybe you want to be a bit more risky than us.  It'll all come down to personal choice.

Anti-ComplainyPants

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Re: I have low-income - Where do I put it?
« Reply #15 on: October 25, 2013, 08:05:11 AM »
Thanks for the advice guys!

CDs sounded like a great idea, and then I looked into it... unfortunately, I had the experience as StacheInTraining: the CD rates that I've seen in my local credit union and online bank failed to match up to my Capital One 360 savings account (unless I tied the money up for a full 5 years, which defeats the purpose).

I don't have any investments yet, so getting started still feels a little foreign to me. If REIT's are tax-inefficient, it sounds like I'd have a hard time putting them in a retirement account and accessing them in 4-5 years. I'd also REALLY like to avoid the risk of losing money in the market... but my logic is this: if the odds are in my favor, and I'd be alright in the worst-case scenario, go for it. If I can invest this savings in a place where i'm *likely* to get the returns i'm looking for, and if the market drops I'd still have most (if less) of my money, that's probably the direction I'd take. But if the worst-case is losing half my savings

I'd say my biggest confusion is everyone's promotion of Vanguard, while my employer is contracted through Valic. As a consequence my 403(b) is with Valic, and I don't know if I should set up a separate Vanguard account or see what Valic has to offer...

Paul der Krake

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Re: I have low-income - Where do I put it?
« Reply #16 on: October 25, 2013, 08:27:02 AM »
OP, you're far from being "low income", and your expenses, while they could be trimmed a little here and there, look great. You're saving 10k per year! In your shoes, I would go for a combination of 403b, Roth IRA, and a simple online savings account yielding .9% or so (Barclays, Ally, etc.)

Choose whichever allocation you want depending on your flexibility preference.


Anti-ComplainyPants

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Re: I have low-income - Where do I put it?
« Reply #17 on: October 25, 2013, 08:38:54 AM »
Thanks Paul!

Sadly, my savings isn't quite up to 10k/year... That 32.5k salary I referred to is gross income. So've I've only got 20k something to work with.

That being the case, there isn't enough to go around for 403(b), Roth, and Savings - I'm sticking to my 403(b) contributions, but my question has been whether the rest I can save should go into Roth OR Savings (or something else), since I hope to buy a home in 5 or so years and want to save for a downpayment. If I had 10 years, it'd be investing all the way; but with only 5ish years, combined with my general ignorance regarding what part of Roth contributions I could pull out and when, I find myself thinking that I should lean towards the security of liquid savings (0.75% variable APY) and invest after I accrue my downpayment.

dorkus619

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Re: I have low-income - Where do I put it?
« Reply #18 on: October 25, 2013, 09:44:13 AM »
simple online savings account yielding .9% or so (Barclays, Ally, etc.)

I opened a Barclays Savings acct at .9% a couple months ago! :)

fragglebock

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Re: I have low-income - Where do I put it?
« Reply #19 on: October 26, 2013, 09:29:14 AM »
Discover Roth IRA CD laddering!  https://www.discover.com/online-banking/ira-cd/#compare-rates

The online savings rate is competitive there, as you're building up to the minimum for CDs.

Just because it's in a Roth IRA doesn't mean it has to be invested in the market.  CDs are comparable to savings account rates, plus the interest income is not taxed.

At my credit union, I can get 2.75% on up to 10,000 in my checking account if I meet certain debit card usage requirements.

Anti-ComplainyPants

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Re: I have low-income - Where do I put it?
« Reply #20 on: October 31, 2013, 08:51:06 AM »
Beware: Anti-ComplainyPants is going to get just a little ComplainyPantsy (but not in a making-excuses way, in a let-me-know-if-I'm-wrong kind of way)

I just wish that I could start investing already (apart from my old-man 403(b) fund) and build compounded dividends to start toward early FI. But since I have low income and have not yet saved the 20% downpayment for a future house-purchase, I see my financial priorities as:

- Continue contributing into my old-man 403(b) up to employer contribution
- Save everything else in a safe high-interest online savings account, just until I save up enough for that downpayment. Which is sadly still a few years away (since I only bring home about $~23k after taxes on a $32.5k salary).

It just seems that I haven't yet earned the simplicity of:
- 403(b) up to contribution
- Max out Roth IRA
- Max out 403(b)
- Invest in Vanguard Index Funds

I'm grateful that I put away my ComplainyPants to make as much savings as I can with my embarrassing take-home pay, but I might have to get some bust-my-ass pants and get a part-time 2nd job to expedite the process and start saving some real money, already. I wish I could put SOMETHING into some Index funds so they could start compounding, without taking the risk for not having saved enough for a house downpayment when the time comes (5ish years away).

nawhite

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Re: I have low-income - Where do I put it?
« Reply #21 on: October 31, 2013, 09:25:21 AM »
I would think very carefully about whether or not buying a house is the right move for you. Its certainly possible it is (especially in Mississippi) but not a guarantee. You've identified that there are other very valuable things that you could do with your down payment money instead of putting it in a down payment on a house. The NYT rent vs buy calculator actually takes those returns into effect when you run the numbers (just be sure to adjust the advanced options to increase the "return on savings" option). In many situations buying makes no sense unless you plan on staying somewhere for more than 15 years simply because your down payment would make more money as an investment than your equity will increase through payments.

To say it another way, people say that renting is throwing away money because you aren't building equity. Well for many years the amount of equity you are adding per payment is very small. In some cases, that rate of equity increase is so small, that if you were investing the down payment instead, you would make more than the gains in equity. Note this doesn't happen much with interest rates so low but it is still possible.

For instance, if I had a 200k house where I put 40k down and got a 30 year mortgage, my monthly payment would be around $900 after taxes and insurance. I'd only be adding to my equity at around $250/month or $3000 per year. So effectively, my down payment of $40k is making $3000/year in equity (I know this simplifies things a lot). $3000/$40000 = 7.5% per year. If you can invest somewhere and get more than 7.5% per year, it wont be worth it to buy vs rent for a very long time.

charles_roberts

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Re: I have low-income - Where do I put it?
« Reply #22 on: October 31, 2013, 12:06:16 PM »
I guess it's a matter of whether you want to take any risks or not..
I decided to invest in margin forex trading a couple of years ago, and despite the ups and downs I've most certainly come out on top.
You don't need much experience to get into trading either- just a bit of practise (you can try the MetaTrader 4 Practice Account on Go Markets)
In terms of property, that's a guaranteed investment.. but like many have advised you should get at least 20% in your pocket- if not more.

Either way, I'm sure everything will work great for you buddy.. You're surrounded by some amazing advice!

ncornilsen

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Re: I have low-income - Where do I put it?
« Reply #23 on: November 01, 2013, 11:59:59 AM »
Smartypig.com pays 1% APY (not APR... APR is like .995) and is FDIC insured. I've been using it for 3.5 years now, happy as a clam with it!


ichangedmyname

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Re: I have low-income - Where do I put it?
« Reply #24 on: November 02, 2013, 07:57:09 AM »
Smartypig.com pays 1% APY (not APR... APR is like .995) and is FDIC insured. I've been using it for 3.5 years now, happy as a clam with it!

Cool site! Thanks! Great for planning vacations or Christmas presents. Love it.

zweipersona

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Re: I have low-income - Where do I put it?
« Reply #25 on: November 02, 2013, 08:14:29 AM »
First, quit beating yourself up over your income.  It's more than what you need, it will rise the older you get, and you're helping people.  As long as you enjoy the work you'll get where you want to go in time.

As for places to save, I'd look at.

Rent - That seems high for your state (considering you're sharing it).  I'm sure there's more inexpensive places to live.  You might not be able to change that atm but I'd certainly look into it.  Home ownership, as you suggested, is one avenue, if you're certain you want to live where you will buy a home for a long period of time.  (Plus, you could get the person living with you now to pay part of the mortgage)

Electricity.  You should be able to halve this number.  Check out http://michaelbluejay.com/electricity/  .  Replace all incandescent bulbs with CFL bulbs.  Use fans instead of AC.  (ceiling fans are the best but even a 20$ box fan will save a lot of money, and over mobility)  Make sure your computers go into sleep mode after a few minutes of inactivity (important if you've got a gaming desktop, less so with a standard laptop)  Make sure to turn off/have sleep mode for TVs and other electrics.

Car insurance - There's not much you can likely do here, other than remove collision/comp.  Doing so would likely reduce your insurance by half.  It's not for everyone, but if you have a cheap car where you don't mind if you may get a ding or dent somehow that you won't fix, it's an option to think about.  Also, with collision/comp, you still pay a deductible.  If your car gets dented by some careless individual in a parking lot, you'd still pay that entire repair out of your pocket, because it'll likely be under your deductible.

Cell phone - You already know that's high.  There's cheaper plans.  You should be able to halve this as well.  Plenty of explanations here for that already.

As everyone else says, savings accounts are risk free, and offer the least reward.  I'd suggest looking at Vanguard or betterment to increase the % you can get back annually; the increase in risk given diversification is rather low.  (but do realize it exists)

stevewisc

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Re: I have low-income - Where do I put it?
« Reply #26 on: November 03, 2013, 10:07:28 AM »
Great job so far!!

I'd have a tough time giving up the instant, tax free 33% return of you 403. 

CD rate of less then inflation seem like a waste. Bonds in you scenario seem like a close second to CDs. 

Stepping back :
You are young, seemingly pretty bright and disciplined.  Getting an extra 3k a year to invest will do a ton more then getting an extra 2% on you current 6k per year. ($60 per percent per year -ugh).

Could you learn the real estate fix and rent trade?  Find a seller that's not in a hurry and maintain the place for free for six months with an option to buy at the end with no money down?  (Probably too many moving parts )  Mr MM makes a good case for that.

(Please dont take this note as betting you up on your income - if that's the career you want and are happy there have at it!)

Good luck.


meadow lark

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Re: I have low-income - Where do I put it?
« Reply #27 on: November 03, 2013, 08:52:10 PM »
Had to comment on the idea that you should be able to halve a $40-50 electricity bill in Mississippi, in a rental.  You have a great electricity bill, and I am assuming you could only get that low by working on it!  I did really like the link though, educational.

Anti-ComplainyPants

  • 5 O'Clock Shadow
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  • Posts: 85
  • Age: 33
  • Location: Mississippi, USA
Re: I have low-income - Where do I put it?
« Reply #28 on: November 05, 2013, 12:41:07 PM »
First, quit beating yourself up over your income.  It's more than what you need, it will rise the older you get, and you're helping people.  As long as you enjoy the work you'll get where you want to go in time.

Thank you, I needed that.

I've opened that Electricity tab and am about to give it a read through, but I assure you - I slashed it quite a bit following MMM's advice, and keeping it in the $100 total range during the heat and humidity of Mississippi summers was an amazing accomplishment (it was around $180!). But there's never a reason to stop trying to improve.

I'd suggest looking at Vanguard or betterment to increase the % you can get back annually; the increase in risk given diversification is rather low.  (but do realize it exists)

This is what I'm thinking. I'm about to lump $5k in a Betterment account, with $200 monthly deposits that will put me on track (according to the site) to get up near $20k in 5 years for my future-house downpayment. That's a fair starting point; I don't intend to move into a house alone, so my then-wife will have some downpayment cash to contribute too (and we can always put off the purchase and save more as necessary).

After that, I'm thinking about saving enough money to maintain a small emergency fund and then buy some Vanguard VTSMX. Once I get the $3k to open it, I can toss extra dollars into it as they come along (as long as I maintain my 403(b), Bettermint Home-Downpayment account, and emergency fund).

Also, just bought my Republic Wireless $19/month unlimited everything account! (Woo!) So there's ~$40/month freed up (I just had to suck it up and pay my enormous ETF, knowing it's worth it in the long run).