What should I Invest in?

26M - Currently living in Low/Mid COL. Coming out with 4.5k in monthly savings after all of my expenses are covered, maxed out 401k, maxed out Roth IRA, and 2/3 in HSA. 

I would like to leave $500 of that for self*, but need suggestions on what to do with the remaining 4k.

My ideal goal is to have 100k in 2/3 years (Current Savings Acct is at 4.2% APY, but that's only temporary). The reason for my goal is that I would like to attend an MBA in 2/3 years, and while most people take out loans, I see others with tons of cash to pay for majority of the MBA up-front and not worry about huge debt. 

I currently have my own place (savings are after expenses taken care of), and have ~50k in stocks/crypto

So at the moment, thinking about 3k in straight savings, and 1k in stocks, but please suggest!

 

Works at Booz Allen Hamilton, bummer your thread hasn't had a response yet. Sometimes bots are smarter than humans anyways:

More suggestions...

I hope those threads give you a bit more insight.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Most Helpful

Look into a 529 plan my man a few things here:

  • Depending on state, you could get a state tax break. For IL (chicago), you can get a 10k deduction on state taxes of roughly 5% ($500 benefit)
  • It functions like a Roth IRA, but the money needs to be used for education. gains are untaxed. You can make the account for yourself and if you don’t use it transfer the beneficiary to a child or sig other or sibling or cousin.

If you want to be more balanced, put 1k into the 529 in stocks and hold the rest as bonds in a brokerage. If you have kids, it’s doubtful you will regret a little money in a 529 compounding untaxed for 20 years and getting the tax benefit…

 

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