Advice on investing savings

[loss4words]

Hi Savers! I really need your advice

Here are my current investments and money allocations:

Savings account - 10K
403(b) - 8K (employer matches up to 5% + additional 5% non matching contribution) - VFIFX (Vanguard Target Retirement Fund 2050)
ROTH IRA - 11K - VFIFX (Vanguard Target Retirement Fund 2050)

Because I need to stay with parents to help them with rent I will have a chance to save up some money, approximately 30K, within the next 2 years. It is expected that after 2 years things will get better for my parents financially and I will be able to move out. I think these are my options:

1. Max out 403(b) + ROTH IRA - for the next 2 years I can max out 403(b) and ROTH IRA but this will leave me with almost no additional savings
2. Invest savings in taxable account at Vanguard. I will most likely invest in Total US Stock and Total International Stock mutual funds. Once I move out to be on my own continue to invest savings in this account after maximizing ROTH IRA and contributing to employer's match. Will most likely not withdraw from this account unless needed.
3. Leave savings in high yield savings account.

What do you guys think? My concern is that once I move out from my parent's home I will not be able to save too much, most likely around $300 a month after ROTH IRA and 5% for 403(b, so I'm looking at what would be the best way to invest money now.

Thank you!!

[disneysteve]

How much do you earn?

What are your current monthly expenses?

When you move out, do you have an estimate of what your monthly expenses will be at that point?

[loss4words]

1) 54k/year. $2900/month after contributing 5% to 403(b)
2) $1300-$1400/month
3) $2400/month but expecting my salary to increase by then

[rennigade]

What savings account do you use? Barclays is paying 1% interest which is pretty good right now.

[loss4words]

I'm with Capital One 360 with 0.75% interest rate.

[scfr]

Do you have any debt?
When you move out, do you plan to rent your own place or would you like to buy a home?
Any major expenditures expected in the near future (wedding, car purchase, etc)?

[loss4words]

Nope, no debt.

I will be renting. I live in a very high cost of living area and renting will be my only option for a while. No major purchases that I foresee.

[scfr]

Then I'd suggest upping the employer plan contributions (you have a good option with Vanguard), continue to max out Roth contributions, and increase savings with the goal of at least $15K in savings by the time you move out (maybe a bit more so that you can take care of apartment first/last/deposit and still have 6 months expenses in savings).

It sounds like you are in a great spot to sock away quite a bit in retirement savings while still young. Go for it. You will be glad you did later. Down the road, when "life happens," if you need to scale back retirement savings or put them on hold, you won't be off track for being able to retire when you want to.

[loss4words]

Thanks a lot for advice, it makes a lot of sense to me. I really appreciate it!