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[docstudent]

I’m entering contract negotiations and my current salary is a base pay of $131,455 and a $5000 sign on bonus. This gives me a take home of $3300, and $3400 per month. I contribute $1400 per month to my 403b account.

Monthly Bills:
Mortgage $1482 ($155 extra on principle include in payment)
Car: $499, Insurance: $181
Phone: $62, Gym: $215
Utilities: $50
Netflix: $9.99, Apple Music: $10
Groceries: $360, Gas: $240
Entertainment: $350
Savings to Robinhood: $2000 per month

Debt:
Mortgage: $162,315, value $450,000
Car: $16,200

Savings:
Robinhood Savings Account: $39,292 (4.15% interest)
Credit Union Savings Account: $26,000 (5% interest)
Robinhood Stocks: $26, 700

403b#1, $80,000
403b#2, $22,000
403b #3, $20,000
403b #4, $10,000 (currently contributing $1400 per month
STRS, $150,000, tentative retirement Summer of 2030. Est monthly retirement $4500 to $5000.

Shifts:
Current base salary $131, 546, sign on bonus $5000
Tentative new salary $141, 756 base, and $3500 retention bonus (begins 23-24)

I will begin to max out my 403b in 23-24, but should I continue to build up my emergency fund? It’s hard to figure out how much you really need during this turbulent economy.

[LivingAlmostLarge]

Why do you need a bigger EF? You have a very stable job. I think you are doing great. Have you considered consolidating your 403b to make life easier?

[Jluke]

What is the interest rate on the car?

what is the interest rate on mortgage?

car insurance seems high. Can you get a discount if you pay yearly? I’m at 1650 for three cars and two drivers.

EF/cash savings of 60k to 70k seems reasonable.

any large purchases in the near future - roof, HVAC or other home improvements?

[docstudent]

The interest rate on the car is 2.4%, and my mortgage rate is 3.75%. I inquired and my rep informed me that two are making adequate gains in a very down market. She thought it would be best to look at things in 6 months. My other thought is to put the extra funds back into the stock market, thoughts?

[docstudent]

I thought my insurance premium was high as well. However, when I researched alternate options, it ended up being the cheapest option. I drive a luxury car…..

[Jluke]

The interest rate on the car is 2.4%, and my mortgage rate is 3.75%. I inquired and my rep informed me that two are making adequate gains in a very down market. She thought it would be best to look at things in 6 months. My other thought is to put the extra funds back into the stock market, thoughts?

So really no need to payoff the car loan since you earn more interest in savings. Assuming you keep your savings there.

if you want to move the cash to the stock market and decrease your cash then I would think about paying off the car. Or pay down half.

if you invest the money assume you can’t touch it for 5-10 years and expect a loss in the beginning.

do you pay your rep a fee?

[docstudent]

My current organization only works with one provider for the 403b option and my previous employer did not have any program in place. There are a variety of transfer rules that exist and I will think about it more as I navigate where I will be next year. I Vanguard plan was really good, but it’s not an option at my current workplace. However, there is a small fee, but that it’s typical for most 403b plans. Since we don’t have the 401k, it’s the best alternative.

[docstudent]

There are interesting things going on in Los Angeles….and I might see a considerable boost as I rethink my current offer. A local group is seeking a 20% raise and another group negotiated 30% over 3 years. As a result, it will cause others to increase their bottom line....