a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment by viceroy
viceroy  ·  2927 days ago  ·  link  ·    ·  parent  ·  post: What % of your take home pay do you invest?

I'm 17 but I'm saving up $3,000 to put in a VTSMX fund when I turn 18. I have about $600 saved and still have four months to go. Wish me luck. I make about $800/month by lifeguarding and waiting tables. Just finished paying my share of a trip to Europe that my parents were so kind to help me out with.

Any tips for where to go from here?





fzj80  ·  2926 days ago  ·  link  ·  

What are your living expenses?

Do you have a savings account?

viceroy  ·  2926 days ago  ·  link  ·  

Nothing, currently, besides paying for oil and some clothing. Yes, I have a savings account at a local bank.

fzj80  ·  2926 days ago  ·  link  ·  

Okay, honestly I'd try to guesstimate what your living expenses are going to be for the next year or so and make sure you have 6 months saved up.

Assuming you're an American afterwards I'd contribute to an IRA.

Check out /r/financialindependence