27M in Houston, Texas. Working in oil and gas currently making 116k salary. I was working out of town but came back to Houston and returned to my previous employer. Luckily my dad works out of town (also in oil and gas) and basically asked me to live at his house to watch the house for him. That being said I don’t have many bills and my vehicle is paid off.
I plan to buy my own house in 2026 around the 3rd/4th quarter
Below are my finances and my plan for each account
- Chase checking and savings
\- Checking: I keep about 1,000 in my checking account for any bills or auto payments. I up the $ in this account if I have a bigger payment coming
\- Savings: $4,100 currently in this account. I basically drained this account and shifted all of my money toward some type of growth account. I have realized how badly you get screwed by letting your money just sit. I am rebuilding this as an emergency fund and putting about $1,000 in here per month
- Edward Jones Brokerage Account and Roth IRA
\-Brokerage account: I contribute $1,200 per month to this account and I don’t plan to touch anything in this account anytime soon. It’s currently at $19,100
\-Roth IRA: I contribute $550 per month to this account. Not touching anything in this account probably until retirement. Currently at $28,500
- Other (local) bank. CD and money market account
\-$2,500 in checking account (minimum amount for money market eligibility)
\-Money Market account: opened this account about 2 months ago with $46k. I’m contributing about $1,200 to this per month. I’m locked in at 3.4% interest payment per year so I’m adding money to get more interest. THIS IS GOING TO BE MY HOUSE DOWN PAYMENT MONEY I’m thinking about September 2026. I plan for this account to be around $55k by then
\-CD: $100,000 in this CD and it pays me $333 per month in interest. Idk what the % is I forgot honestly. I reinvest my interest payment into my Roth every month. When this CD matures in January 2026, I plan to move this $100k to a high growth account with either Chase or Edward Jones and basically forget about it until I’m about 60. By then it should be worth about $4-6 million assuming compounding of average 10% for that amount of time. I will also contribute to it not sure what amount
- 401k
\-contributing 10% employer matches 4%. Currently at $63k
I understand that I am in a very good financial position for my age. I am not trying to use this post as a flex or any type of brag. I am mainly wanting to see if there are older folks in this forum that can give me any advice on what I can do differently or if I am on a good path with what I’m doing. I don’t do any investing on my own because I don’t know enough about it and don’t have the passion to try to learn. So I’m just investing with professionals
27M wanting to get opinions/advice on my finances
byu/Plenty-Primary-2806 infinancialindependence
Posted by Plenty-Primary-2806
2 Comments
Checkout the flowchart on r/personalfinance. A couple things jump out:
1. You should be maxing out tax advantaged space. Seems like you still have room in your 401k
2. The CD is overly conservative for your age. As you stated this should be in something with higher growth potential.
3. Why Edward Jones? What are the funds you are buying? What are their expense ratios? You likely have better options with Vanguard or Fidelity.
It sounds like you are in a fantastic position to save right now and have some correct concepts, but you need to put in a little effort now to build your foundation.
Really spend some time really learning about investing basics. **This isn’t a passion, this is the alternative to working until you are 75.** The difference in your financial situation 20-30 years from now depends on the investment foundation you learn now. You can rely on professionals here, but you need to still understand expected returns and how their fees will compare to the market. Most financial advisors don’t beat the market after their fees are taken out.
If you have trusted successful adults in your life, start talking to them about investing and finance. Not all your numbers, but the concepts and their experience.
I liked this recent video which touches on a lot of what I think you are trying to ask. https://youtu.be/1Ob-hAYCnJE?si=Bk_jjv5hJ0Z0HsX9