Advice needed
Hey everyone! I was just wondering if maybe someone could get me started on a plan towards my goals. I want to open up a Roth IRA, save for a downpayment on a home, and keep an emergency fund.
Age:24
Savings: $6,000
401k: $3,600 (I contribute up to the max match which is 50% of 5%)
NO CC DEBT!
Net Monthly Income: Around $1,700
Bills
Car Payment: $260 (I owe $13,000 on a 2006 Honda Civic with 30,000 miles)
Car Insurance: $111 (I heard it goes down after I turn 25)
Phone: $20
Gym: $30
Gas: $110
I will be moving out into an apartment within about 3 months and expect to be paying out somewhere around $600 extra towards rent/food/etc.
By April or May I am on track to having around $8,000-$8,500 in savings. I know I can fully fund my 2009 IRA until April, but is that a good idea? What would be my best route here? Thanks for any info!
|