Hi! I’m 24F and currently make 65k a year. i’ve always been pretty good with my money as i had financial stress growing up, which is kind of what this post is about. I live at home and have been for a little over a year. It’s getting to a point where I am going insane and losing my mind. I need to get a promotion before I move out, at least in my mind that would make the most sense. I currently have 25k in my brokerage that i put $125 into, i have 12k in my roth that i started last year, and plan on maxing out. I also have 10k in my 401k that I contribute 15% to and get matched 6%, as I have no bills so why not. I love investing and feeling good about my situation but holy hell i NEED to move out. I also have about 16k in my HYSA. where I have my emergency fund and also my move out fund which i’m trying to hit at least 10k in before I make the decision to move out, so i can feel a little better about deposits and furnishing it a bit. By december it will be a year and a half at the company and I will be finishing my MBA. My boss always looks out for me and i HOPE I can get the promotion. My bank account loves that I live at home but my mental health doesn’t
Bank account and moving out
byu/Inside_Turnover3747 inpersonalfinance
Posted by Inside_Turnover3747
3 Comments
You are doing SO well for someone your age. You should be really proud of what you have accomplished. If I were in your situation, I’d wait til the masters is finished, then start seriously looking for my own place. Not much longer to wait, but it’ll be so worth it.
Good for you! Get out there on your own. Generically makes sense to maximize Roth 401k if available while relatively lower income and big runway. Use 401k up to match to create room there. Then can increase 401k as income increases for tax mix and HSA and taxable down the road as employer accounts are maxed.
It sounds like your living situation is really bad right now. You’re in a great spot financially… I say move out and just tighten the budget a little.
Your mental health is worth it!