Investing Help - Starting Out
Incoming FT IB at BB so salary is $110k base and bonus anywhere from ~40-70?Main Q 1: that being said I'm very confused on how to invest my annual salary, looks like I'm already pass the Roth IRA income limit (but have looked into a back door Roth). Is the strategy to (1) put into 401(k) the amount that my bank will match, (2) back door Roth $6.5k, (3) dump rest into 401(k)Main Q 2: does it help to park invest some money now before I start? Sitting on ~20K in cashI know there are threads but was wondering if the equation changes with the recent increased base salaries. Feeling a bit nervous about fucking this up given that I'm the first in my family to have the privilege to have to think through these things and have 0 guidance
Following
Following
yolo everything in same day SPY puts.
Having solid emergency fund/liquid investments built up early on isn’t a bad thing. I was be hesitant for the first year or so to increase my 401k substantially beyond the match.
I figured, I’m going to be buying a home/Porsche 911 before I retire so need to have money for that first. May not be the most tax efficient but gives me a lot more flexibility and freedom before retirement on how I invest and spend my money.
Not an expert tho and run my finances all pretty basically. Just try to save a good portion and invest most of what I save and I figure that’s good enough for now.
Based 911 purchase
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