Not really sure how to handle money. I've been maxing my 401k (19.5k/yr) and putting a tidy amount in a checking account. Not sure whether I want to leave the states after a couple years (entirely possible) - also possible is a Masters degree. What's your advice? YOE = 1, TC = $100k #personalfinance #investments #money
Invest for sure and enjoy also. Investing early definitely compounds your money
Read about Boglehead. Then put 60% in VTI and 40% in VXUS. Then forget about the money.
SPY, QQQ and forget your money until 2050
Don't spend on prostitutes or OF.
Buy Bitcoin - that thing is eating real estate :)
ALWAYS save one paycheck. Maybe you have to rent it out with roommate or home cooked food. It goes long ways.
Haaa - thanks for all the comments guys. In all honesty, I was looking for a bit more specific guidance, including whether I should I max my 401k or keep it in a checking (or HYSA or Roth IRA, of which I know nothing about).
Max out 401K if you can afford it. Read about the affect of compounding interest. The earlier the better. Roth is nice, but there are limitations on how much you can put into. Put that money in a target fund. HSA is also good. Max it out and invest the money in there as well. When you're young, you don't need that money. So that investment will grow for now. You'll have a nice tax free money later for medical need. Keep 6 months worth of expense in checking. Keep your monthly cost, add some room to get you something nice every now and then. Rest of the paycheck goes to a reputable brokerage like Fidelity. Buy a mix of index funds if you don't want to actively invest.
Thanks KLA-Tencor - that is useful information
Why don’t you consult a financial advisor (robo or real)?
Thought that being on an F1 and potentially going home in a couple of years would make my case atypical
Ah, I am positive there are CFAs in the Bay that have advised folks in a similar position as you. Good luck
Invest all you can in good funds, that’s it
Too early to talk about these big things. Just enjoy life now