So Much To Read!
Things I am Researching for life:
Home Financing
Credit
King County Home Market
King County Apt. Market
Banks
Stocks
Mutual Funds
401K and retirement shit
Taxes!
Car Market
Car Insurance
Health Insurance
I thought studying went out the window with graduation. It's a happy chore, to be sure, but like my freshman year I feel disillusioned about my level of preparedness. I've spent a good month or so in fairly continuous introspection and have come up with this:
1. I will not be selling joyce. I figure I'll just run her till she taps out. I love that car.
2. I will be buying a home within the next year and a half. Probably a condo or townhouse.
3. My bonii will sit in some higher returning state of low liquidity until I buy that house. CD most likely
4. My student loans will be paid from my check over time.
5. I will live in First Hill when I get to Seattle. It's supposedly rising in value and I want to experiment with it for at least 4 months.
6. I won't be maxing out my 401k contributions for a few years
7. Geico
8. The Land Buying dream is being pushed back to the five-year plan
9. Sony SXRD =-D.
10. I want to finish some formal training on DBA stuff.
Thats all I have for now. Now that it's written down I can stop thinking about it.
posted by Alfonso Lopez @ 8:20 PM
9 Comments
9 Comments:
Two things:
1 - CDs right now are a pretty crappy investment. They don't pay much above a high-interest savings (eg: emigrantdirect which pays a bit over 5%) and in a rising-rate market, the fixed rate and end up strongly lowering the rate you would have gotten.
2 - Try to put at least what you can get matched into your 401k, if at all possible (obvious advice)
If you need any help or want to bounce anything off me I am happy to help. Just drop me an email or call me up.
Shop insurance again when you buy a house. Often you can get massive discounts for auto+home.
1. I figured there was a better way to go than a CD. All I really need is a no-risker for a year. I might just do mutual fund. Basically I am not touching this money until the bonus clears.
2. Obvious. But that doesn't nearly reach the max I could technically put in.
Mike: That a fact? I'll keep that in mind. Though I turn 25 in a year so my insurance should be nice and low....relatively.
I have nothing productive to add but "where are you" :( I tried to call you and it says your phone is no longer a working number and this makes me sad. I just got some really good news and I want to tell you ...call me
Weird, my phone has been working all day. You must have called when I was in that expanse of Texas with now cell phone coverage.
I'll give you a ring for the good news.
...I was hoping for category theory. :/
With the kind of job you're getting, putting enough into your 401k to get the full match should be pretty easy.
Most "experts" then recommend funding a Roth IRA. Limits go up.. next year, I think, to $5,000/year. Again, it shouldn't be that big of a problem, and tax-exempt growth is a delightful thing. After that, it's back to the 401k. The max this year is $15,000, and that may go up next year, too. I don't recall.
If you're looking for a good primer on a lot of the stuff you mentioned in your list, pick up a copy of "The Wealthy Barber". It's a good general overview of retirement, investing, saving, insurance, real estate, etc.
Thanks! I'll pick that up tonight.
Michael is right. I added condo insurance (which is fairly similar to renter's insurance, since my building itself is covered by the association) and I think it added about 50 cents a month onto my premiums. The policy was like $11.50 and I got an $11 discount for multiple policies.
So just ask your car provider if they do renter's. If not, you might want to find one that does and compare total prices.
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