Living on half my cash salary
I am very new to the investment game and trying to save money for an eventual down payment of a house (somewhere with a lower COL and safe, probably in Texas or Arizona or even a lower cost area of California). I make about 165 as my base (and 35K as signing bonus for year 1 and 2 at Amazon). I also have a year 1 stock vest of roughly 50K which I will get in January. My yearly costs come out to about 60K, I pay for rent, a car, groceries and the rest of the stuff is handled by my girlfriend. I am planning to save up to 50K and put it in Vanguard ETFs and continue doing this from then on. I am hoping to change my job after my promo (arbitrary plans are for next June with current performance levels). Is this a solid plan?
Yeah, do it.
Join r/financialindependence Your "living expenses" will have a direct effect on how long you need to work before you retire. Please make sure to max out your retirement contributions, and activate the "self directed brokerage" in your 401k plan so you can invest in the broader market. A Roth 401k might be best at your TC. Additionally, enroll in an HDHP health plan when it's offered , max out your HSA and never use the HSA just let it grow. It's the only triple tax advantaged account that exists.
Can you please elaborate on why Roth is best for his TC?
What is the rest of the stuff handled by your GF?
Any running costs i.e. if we need a new lamp for example, or car insurance, etc. She is in law school so the little bit she makes in the summer is saved up and used for these costs. She is graduating in 2 years so after that, we will have some additional income to help us save
Sure, why not? The more you save the more you will have to buy big things that matter, and the more your wealth will compound itself.