Hey everyone! I am 23 and clueless.
I have no idea how to best allocate my money for the future.
I put 20% of my income away into my 401k
I’m just wondering how I should be best allocating my future revenue and current savings
401k: $33,436.10
Robinhood: $6,439 (all VOO)
Emergency savings: $8,750 (non-HYSA)
I know that I should be putting my savings into a HYSA but should I put all of that 9k into there?
And I should be putting that much into my 401k or cut back to 15% (which would free up about $100-$200 a month that I could be putting into HYSA)
What should I do with my money?
byu/Much-Commission1 inpersonalfinance
Posted by Much-Commission1
1 Comment
I would keep doing what you’re doing. 20% for retirement is incredible and if you enjoy your life as is with that, do it. Most people do like, 4%.
Move 6 months of expenses into a HYSA