In search of some intermediate financial advice.
February 20, 2014 10:50 AM Subscribe
MeFites have always been pretty good at giving basic financial advice, like how to start saving, building a budget, getting out of debt, etc. I'm there already. I find myself in the surprising situation of being comfortable these days, and I'd like to know: what's next?
This is all pretty bewildering to me as I was broke as hell only two short years ago, with $500 bucks to my name and zero income. Thanks to now having a good job and a rabid desire to never be desperately broke again, I have ticked off all the boxes for getting my financial house in order.
Now that I have a good baseline, I'm interested in guidance, either from MeFites or repsected online/book resources, of what I should be doing next. Googling for this kind of thing brings up a lot of "Getting Started" stuff, which is great but not what I need. I don't feel I'm at the place where seeing an IRL financial planner is worth it. (And I'm the kind of person who really likes fussing over this kind of stuff, so I want GOALS.)
Here's where I currently stand:
Base salary: $50,000 (expected about $10K bonus on top of that)
Emergency savings: $12,000
Other savings: $1,500 (just opened this account, it's now getting regular direct deposit amounts from my paycheck)
Roth IRA: approx $6,700
I pay off my credit cards in full every month and have about $3,000 remaining in student loan debt that has an interest rate far lower than my savings accounts (so I'm happy to pay that off slowly). My savings accounts are all "high yield" between .85 and 1%. I have no other debt. I rent my apartment and own my car.
I also have another $13K in savings and $12K in a brokerage account that are technically mine but for family reasons I have promised not to touch.
My work doesn't have a 401k plan yet, but it's coming soon, and I intend to contribute 5% to get the employer match.
I live below my means in a large city. In the last 6 months I've finally gotten comfortable with spending money for nonessentials, but I'm a pretty low-need person. I'm single, have no plans in the near future for a family, have no desire to travel, and am happy renting for the forseeable future.
So I ask of you, hive mind: what should my next set of financial goals be?