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Hi everyone,
I am a 23 year old (soon to be 24) college senior. I graduate May 2012. I currently work for the Fed. Gov't (making about $500 after taxes/tsp each two weeks), but have a job lined up with one of the Big 4 accounting firms, with a starting salary of almost $60k.
My current fed gov't job matches 5% into a Thrift Savings Plan (like a 401k). However, I am planning on quitting in a couple weeks to finish my final semester. I also have been contributing $5,000 for the last 3-4 years in my Roth IRA.
My current situation is as follows:
Emergency funds = None currently.
Debt: Car Loan: $3,400 @ 3.99% APR Due May 2013. (Pay this off within the first month of new job) Student Loan: $5,500 @ 3.49% (Doesn't start until December 2012)
Tax Filing Status: Single
Tax Rate: 15% Federal 4.75% State - Maryland
Age: 23 (turning 24 soon)
Desired Asset allocation: 60% bonds; 40% stocks (or so)
Current portfolio (5 figures)
Taxable
8.70% Schwab U.S. Broad Market ETF (SCHB) (0.06)
8.36% Schwab U.S. Small-Cap ETF (SCHA) (0.13)
My Roth IRA
18.13% cash (Set to automatically split equally between my funds below every few months)
6.61% Manning & Napier World Opportunities Fund Class A (EXWAX) (1.12) (Getting rid of this soon)
13.52% Yacktman Fund (YACKX) (0.85)
12.74% RidgeWorth Total Return Bond Fund Class Institutional (SAMFX) (0.35)
12.74% RidgeWorth Core Bond Fund Class Institutional (STIGX) (0.35)
12.74% American Century Investments Government Bond Fund Investor Class (CPTNX) (0.48)
My Tax Free Account (Just started)
1.39% Schwab Tax-Free Bond (SWNTX) (0.49)
My TSP
Company Match: 5%
0.22% Life Cycle Funds 2050-2020 (0.025)
0.25% G Fund (0.025)
0.25% F Fund (0.025)
1.48% C Fund (0.025)
1.48% S Fund (0.025)
1.39% I Fund (0.025)
New annual Contributions:
1. $5,000 to my Roth IRA every year.
2. As far as my Tax Free & Taxable account goes, I put in money that I have available once in a while... nothing set to automatically invest just yet.
3. I am stopping TSP contributions since I am quitting in the next couple of weeks. However, when I start my new job in October I will be contributing 5% to get the .25% match (crappy, I know.)
My Questions:
1. How does my portfolio look so far? ... I am not looking to "aggressively" invest. I am happy with moderate returns, I do not need to risk some of my money in hopes of earning 12%.
2. Any changes I should make?
3. I am starting a new job in October, around $60k starting. I plan on saving aggressively in order to put 20% down on a house that I am able to rent out. (100-150k total house value) (any suggestions for accomplishing this?)
Thank you guys!
I am a 23 year old (soon to be 24) college senior. I graduate May 2012. I currently work for the Fed. Gov't (making about $500 after taxes/tsp each two weeks), but have a job lined up with one of the Big 4 accounting firms, with a starting salary of almost $60k.
My current fed gov't job matches 5% into a Thrift Savings Plan (like a 401k). However, I am planning on quitting in a couple weeks to finish my final semester. I also have been contributing $5,000 for the last 3-4 years in my Roth IRA.
My current situation is as follows:
Emergency funds = None currently.
Debt: Car Loan: $3,400 @ 3.99% APR Due May 2013. (Pay this off within the first month of new job) Student Loan: $5,500 @ 3.49% (Doesn't start until December 2012)
Tax Filing Status: Single
Tax Rate: 15% Federal 4.75% State - Maryland
Age: 23 (turning 24 soon)
Desired Asset allocation: 60% bonds; 40% stocks (or so)
Current portfolio (5 figures)
Taxable
8.70% Schwab U.S. Broad Market ETF (SCHB) (0.06)
8.36% Schwab U.S. Small-Cap ETF (SCHA) (0.13)
My Roth IRA
18.13% cash (Set to automatically split equally between my funds below every few months)
6.61% Manning & Napier World Opportunities Fund Class A (EXWAX) (1.12) (Getting rid of this soon)
13.52% Yacktman Fund (YACKX) (0.85)
12.74% RidgeWorth Total Return Bond Fund Class Institutional (SAMFX) (0.35)
12.74% RidgeWorth Core Bond Fund Class Institutional (STIGX) (0.35)
12.74% American Century Investments Government Bond Fund Investor Class (CPTNX) (0.48)
My Tax Free Account (Just started)
1.39% Schwab Tax-Free Bond (SWNTX) (0.49)
My TSP
Company Match: 5%
0.22% Life Cycle Funds 2050-2020 (0.025)
0.25% G Fund (0.025)
0.25% F Fund (0.025)
1.48% C Fund (0.025)
1.48% S Fund (0.025)
1.39% I Fund (0.025)
New annual Contributions:
1. $5,000 to my Roth IRA every year.
2. As far as my Tax Free & Taxable account goes, I put in money that I have available once in a while... nothing set to automatically invest just yet.
3. I am stopping TSP contributions since I am quitting in the next couple of weeks. However, when I start my new job in October I will be contributing 5% to get the .25% match (crappy, I know.)
My Questions:
1. How does my portfolio look so far? ... I am not looking to "aggressively" invest. I am happy with moderate returns, I do not need to risk some of my money in hopes of earning 12%.
2. Any changes I should make?
3. I am starting a new job in October, around $60k starting. I plan on saving aggressively in order to put 20% down on a house that I am able to rent out. (100-150k total house value) (any suggestions for accomplishing this?)
Thank you guys!