I would look to contribute yearly max to a Roth IRA (5k). $500/month for 10 months would work.
Because we are late in year, use January-April contributions as prior year (until you hit 5k max).
I would also keep around 5-10k in a savings account or moderate investment of sorts. Liquidity is important. What if your car breaks down? What if parents kick you out? What if something unexpected happens?
I think 5k in a high yield savings account or laddered CDs makes sense. Then keep another 5k in a non retirement account for other reasons (larger car repair, something else).
Leave the Roth IRA alone (just add to it like a good habit).
Use the taxable account to fund intermediate goals. Maybe get a condo in a year, then rent out rooms to other students while in school (to help pay the bills).
Use these next two years to get cash heavy. Once you are cash heavy you will have more choices.
__________________
*Light travels faster than sound. That is why some people appear bright until you hear them speak.
*One person's stupidity is another person's job security.
[URL]http://jim.savingadvice.com/[/URL]
[URL]http://www.quotationspage.com/quotes/Calvin_Coolidge/[/URL]
|